§2-105. Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit"

Link to law: http://legislature.vermont.gov/statutes/section/09A/002/00105
Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

002

:
Sales











 

§

2-105. Definitions: transferability; "goods"; "future"

goods; "lot"; "commercial unit"

(1)

"Goods" means all things (including specially manufactured goods)

which are movable at the time of identification 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 (§ 2-107).

(2) Goods must

be both existing and identified before any interest in them can pass. Goods

which are not both existing and identified are "future" goods. A

purported present sale of future goods or of any interest therein operates as a

contract to sell.

(3) There may be

a sale of a part interest in existing identified goods.

(4) An undivided

share in an identified bulk of fungible goods is sufficiently identified to be

sold although the quantity of the bulk is not determined. Any agreed proportion

of such a bulk or any quantity thereof agreed upon by number, weight or other

measure may to the extent of the seller's interest in the bulk be sold to the

buyer who then becomes an owner in common.

(5)

"Lot" means a parcel or a single article which is the subject matter

of a separate sale or delivery, whether or not it is sufficient to perform the

contract.

(6)

"Commercial unit" means such a unit of goods as by commercial usage

is a single whole for purposes of sale and division of which materially impairs

its character or value on the market or in use. A commercial unit may be a

single article (as a machine) or a set of articles (as a suite of furniture or

an assortment of sizes) or a quantity (as a bale, gross, or carload) or any

other unit treated in use or in the relevant market as a single whole.
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