Asked by Lucas Castro on Jun 11, 2024
Verified
Which of the following do not meet the Uniform Commercial Code definition of a good?
A) Real estate
B) Corporate stocks
C) Copyrights
D) Real estate,corporate stocks,and copyrights do not meet the definition of a good
E) Real estate and corporate stocks do not meet the definition of a good,but copyrights do meet the definition of a good as a type of intellectual property.
Intellectual Property
Intangible property that is the product of one’s mind and not one’s hands.
Corporate Stocks
Equity investments representing ownership in a corporation, allowing shareholders to claim on assets and earnings.
Real Estate
Property consisting of land and the buildings on it, along with its natural resources.
- Draw a distinction between goods and non-goods as per the UCC's stipulations and pinpoint what entails a sale of goods transaction.
Verified Answer
EF
Eseta FinauJun 14, 2024
Final Answer :
D
Explanation :
Section 2-105 of the Uniform Commercial Code defines goods as "all [tangible] things ...which are movable at the time of identification to the contract for sale." Items are tangible if they exist physically.Corporate stocks and copyrights are not tangible,so they are not goods,and real estate cannot be moved,so it is not a good.
Learning Objectives
- Draw a distinction between goods and non-goods as per the UCC's stipulations and pinpoint what entails a sale of goods transaction.
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