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Simple English definitions for legal terms
goods
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A quick definition of goods:
Goods: Goods are things that can be moved and are owned by someone. This includes crops, things that are attached to buildings, trees that will be cut down, houses that can be moved, and unborn baby animals. However, things that are not physical, like ideas or patents, are not considered goods.
A more thorough explanation:
Definition: Goods are items that can be moved and are subject to a security interest under Article 9 of the Uniform Commercial Code (UCC). This includes crops, fixtures, timber that will be cut and removed, manufactured homes, and unborn animals. However, general intangibles are not considered goods.
- Crops: Corn, wheat, and soybeans are examples of crops that can be considered goods.
- Fixtures: A light fixture attached to a ceiling would be considered a fixture and therefore a good.
- Timber: Trees that are going to be cut down and removed for use would be considered goods.
- Manufactured homes: A mobile home or trailer would be considered a good.
- Unborn animals: The young of animals that are not yet born, such as a calf in a pregnant cow, are considered goods.
These examples illustrate that goods are tangible items that can be moved and are subject to a security interest. They are physical objects that can be bought, sold, and traded.