Section 5. Existing and Future Goods.—
The goods which form the subject of a contract to sell may be either existing goods, owned or possessed by the seller, or goods to be manufactured or acquired by the seller after the making of the contract to sell, in this act called "future goods."
There may be a contract to sell goods, the acquisition of which by the seller depends upon a contingency which may or may not happen.
Where the parties purport to effect a present sale of future goods, the agreement operates as a contract to sell the goods.