8.2-105 - Definitions: Transferability; "goods"; "future" goods; lot"; "commercial unit.". - Virginia Statutes

§ 8.2-105. Definitions: Transferability; "goods"; "future" goods;"lot"; "commercial unit.".

(1) "Goods" means all things (including specially manufactured goods) whichare movable at the time of identification to the contract for sale other thanthe money in which the price is to be paid, investment securities (Title8.8A) and things in action. "Goods" also includes the unborn young ofanimals and growing crops and other identified things attached to realty asdescribed in the section on goods to be severed from realty (§ 8.2-107).

(2) Goods must be both existing and identified before any interest in themcan pass. Goods which are not both existing and identified are "future"goods. A purported present sale of future goods or of any interest thereinoperates 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 issufficiently identified to be sold although the quantity of the bulk is notdetermined. Any agreed proportion of such a bulk or any quantity thereofagreed upon by number, weight or other measure may to the extent of theseller's interest in the bulk be sold to the buyer who then becomes an ownerin common.

(5) "Lot" means a parcel or a single article which is the subject matter ofa separate sale or delivery, whether or not it is sufficient to perform thecontract.

(6) "Commercial unit" means such a unit of goods as by commercial usage isa single whole for purposes of sale and division of which materially impairsits character or value on the market or in use. A commercial unit may be asingle article (as a machine) or a set of articles (as a suite of furnitureor an assortment of sizes) or a quantity (as a bale, gross, or carload) orany other unit treated in use or in the relevant market as a single whole.

(1964, c. 219.)