When it comes to contracts of sale, it`s important to understand what can and cannot be sold. While most assets can be sold, there are certain things that may not be the object of a contract of sale. In this article, we`ll take a closer look at what these things are.

1. Illegal or prohibited items

Perhaps the most obvious thing that cannot be the object of a contract of sale is an illegal or prohibited item. This includes items that are outlawed by federal or state law, such as drugs, firearms, and stolen property. Additionally, certain items may be prohibited by contract, such as a non-compete agreement that prohibits the sale of confidential information to a competitor.

2. Intangible goods

While intangible goods, such as intellectual property, can be sold, they must meet certain criteria. For example, copyright and trademark rights can be sold, but the sale must be in writing and signed by the owner. On the other hand, patents cannot be sold in the same way, as they are considered to be personal property and must be transferred through an assignment of rights.

3. Personal services

Services cannot be sold in the same way as physical products or assets. While a contract can be drawn up to govern the terms of a service agreement, such as payment and delivery, the services themselves cannot be sold outright. This is because services are typically provided on a one-time basis and cannot be transferred to another party.

4. Real property

Real property, such as land and buildings, can be sold, but the process is different from that of personal property. In order to sell real property, a deed must be executed and recorded with the appropriate government agency. The sale must also comply with zoning and land use regulations.

5. Future goods

Future goods are those that do not exist yet, or do not yet belong to the seller. For example, a farmer cannot sell a crop that has not yet been harvested, as it is not yet in his possession. Similarly, a manufacturer cannot sell a product that is still in production. In order to be the object of a contract of sale, a good must exist and be in the possession of the seller.

In conclusion, while most assets and goods can be sold, there are certain things that may not be the object of a contract of sale. These include illegal or prohibited items, intangible goods that do not meet certain criteria, personal services, real property, and future goods that do not yet exist or belong to the seller. As always, it`s important to consult with an attorney or experienced copy editor who specializes in contracts and sales before entering into any agreement.