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The Uniform Commercial Code and its Applicability

How does the UCC define a good? How does the UCC define a merchant? How are the UCC requirements different for a merchant versus a nonmerchant? Provide examples.

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How does the U.C.C. define a good?

Goods: All things which are moveable at the time of identification. 'Goods' also includes unborn animals, crops, or other things attached to realty that will be severed (2-105). (1)

Article 2 of the U.C.C. applies to all ―transactions in goods‖ (new or used). A ―good‖ generally means all things that are movable at the time of identification to the contract of sale. Common law SIR subjects (services, intangibles, and real estate) are not goods. The sale requirement under article 2 also excludes bailment for use, such as leases of personal property in which title does not transfer. The unborn young of animals, as well as, ...

Solution Summary

The solution explains how the UCC defines a good, merchant and its requirements for merchants and nonmerchants.