Asked by
Logan Burkhart
on Dec 20, 2024
Verified
Goods must be both existing and identified to the contract before any interest in them can pass.
Identified
Singled out or recognized from among others.
Existing
Currently present or in existence.
Interest
The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid over a specified period.
- Differentiate between existing, future, and fungible goods under the UCC.
Verified Answer
MM
Learning Objectives
- Differentiate between existing, future, and fungible goods under the UCC.