GOODS
goods. 1. Tangible or movable personal property other than money; esp., articles of trade or
items of merchandise <goods and services>. • The sale of goods is governed by Article 2 of the
UCC. [Cases: Sales 10. C.J.S. Sales §§ 12–16.] 2. Things that have value, whether tangible or
not <the importance of social goods varies from society to society>.
“ ‘Goods’ means all things (including specially manufactured goods) which are movable at
the time of identifi-cation to the contract for sale other than the money in which the price is to be
paid, investment securities (Article 8) and things in action. ‘Goods’ also includes the unborn
young of animals and growing crops and other identified things attached to realty as described in
the section on goods to be severed from realty (Section 2-107).” UCC § 2-105(1).
bulky goods.Goods that are obviously difficult to move because of their nature, their number,
or their location.
capital goods.Goods (such as equipment and machinery) used for the production of other
goods or services. — Also termed industrial goods.
consumer goods.Goods bought or used primarily for personal, family, or household purposes,
and not for resale or for producing other goods. UCC § 9-102(a)(23). [Cases: Secured
Transactions 15. C.J.S. Secured Transactions § 14.]
customers’ goods.Insurance. Goods belonging to the customers of a casualty-insurance
policyholder; goods held by a policyholder as a bailee.
distressed goods.Goods sold at unusually low prices or at a loss.
durable goods.Consumer goods that are designed to be used repeatedly over a long period,
such as automobiles and personal computers. — Also termed durables; hard goods.
fungible goods (f<<schwa>>n-j<<schwa>>-b<<schwa>>l). Goods that are interchangeable
with one another; goods that, by nature or trade usage, are the equivalent of any other like unit,
such as coffee or grain. UCC § 1-201(b)(18). future goods.Goods that will come into being, such as those yet to be manufactured; goods
that are not both existing and identified. • A purported present sale of future goods or any interest
in them operates as a contract to sell. UCC § 2-105(2).
gray-market goods.See PARALLEL IMPORTS.
hard goods.See durable goods.
household goods.Goods that are used in connection with a home. • This term usu. arises when
a warehouser claims a lien on what he or she asserts are “household” goods. According to the
UCC, a warehouser may claim a lien on a depositor’s furniture, furnishings, and personal effects
that are used in a dwelling. UCC § 7-209(3)(b).
industrial goods.See capital goods.
mobile goods.Goods that are normally used in more than one jurisdiction (such as shipping
containers and road-construction machinery) and that are held by the debtor as equipment or
leased by the debtor to others. • Under previous drafts of the Uniform Commercial Code, the
procedure for perfecting a security interest in mobile goods was generally defined by the law of
the state where the debtor is located. The current UCC does not dis-tinguish mobile goods.
nonconforming goods.Goods that fail to meet contractual specifications, allowing the buyer
to reject the tender of the goods or to revoke their acceptance. UCC §§ 2-601, 2-608. See
PERFECT-TENDER RULE. [Cases: Sales 119, 166(1). C.J.S. Sales §§ 176, 182, 194,
199–202.]
ordinary goods.Goods that are anything other than mobile goods, minerals, or goods covered
by a certificate of title. • The current UCC does not distinguish between ordinary and mobile
goods. [Cases: Secured Transactions 14. C.J.S. Secured Transactions § 13.]
prize goods.Goods captured at sea during wartime.
soft goods.Consumer goods (such as clothing) that are not durable goods. [Blacks Law 8th]