GroundRules
← Search the law
Kentucky · Snapshot 09/05/2026

KRS 355.2-105: Definitions: transferability -- "Goods" -- "Future" goods -- "Lot" --

Read at publisher ↗
Where this section sits in the code

    "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 mo ney 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 (KRS 355.2-107).

    (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 determi ned. 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 divisio n 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.

    Collected 2026-09-05T20:58:41Z. Source file · JSON

    Browse this collection