Section 2(1) in The West Bengal Jute Goods Act, 1950
(1)"contract relating to jute goods" means a contract relating to the sale or purchase of jute goods made on a forward basis-(a)providing for the payment or receipt, as the case may be, of margin in such manner and on such dates as may be specified in the contract, or(b)by or with any person not being a person who-(i)habitually deals in the sale or purchase of jute goods involving the actual delivery of possession thereof, or(ii)possesses, or has control over, a godown and other means and equipments necessary for the storage and supply of jute goods;[Explanation. - Actual delivery of possession shall be deemed to include the transfer of any delivery order or railway receipt or dock receipt or mate's receipt or godown warrant.] ['Explanation' inserted by W.B. Act 3 of 1953.]
