If at the time of entering into a contract unbeknown to the purchaser or the seller, the subject matter did not exists, the contract is
A) voidable at the option of the court.
B) void, according to the Sale of Goods Act as well as under the Common Law.
C) a mistake in terms of fact and not assumption.
D) subject to the tort of deceit.
E) valid, the purchaser stands the loss.

Question

Quizplus · Accepted Answer

According to the Sale of Goods Act as well as under the Common Law, a contract for the sale of non-existent goods is considered void. This means that the contract is not legally binding and both parties are released from their obligations under the agreement.

If at the Time of Entering into a Contract Unbeknown