Marketable - Definition - Law Dictionary Home Dictionary Definition marketable

Definition :

Marketable, such things as may be sold; those for which a buyer may be found. See FAIRS.

By marketable it does not mean that the goods must be actually bought and sold in the market. But the goods must be capable of being bought or sold in the market. The law also is that goods which are in the crude or unstable form and which require a further processing before they can be marketed, cannot be considered to be marketable goods merely because they fall within the Schedule to the Excise Act, Cadila Laboratories Pvt. Ltd. v. C.C.E., (2003) 4 SCC 12: AIR 2003 SC 1700 (1703). [Central Excise Act (1 of 1944), s. 3]