Asked by Raabiah Azeez on Jul 12, 2024
Verified
"Goods" for purposes of the Code are essentially defined as tangible, movable, personal property.
Tangible
Refers to physical objects or assets that can be seen, touched, and quantified, as opposed to intangible items like rights or patents.
Movable
Personal property or assets that can be physically relocated from one place to another, as opposed to immovable property like land or buildings.
- Understand the meaning and categorization of "goods" within the Uniform Commercial Code and its influence on the relevance of the UCC.
Verified Answer
DR
Demetris RobertsonJul 17, 2024
Final Answer :
True
Explanation :
Under the Uniform Commercial Code (UCC), "goods" are indeed defined as tangible, movable items of personal property. This definition excludes real estate and intangible items like stocks or bonds.
Learning Objectives
- Understand the meaning and categorization of "goods" within the Uniform Commercial Code and its influence on the relevance of the UCC.
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