Alaska Statutes 45.02.105 – Definitions: transferability; “goods”; “future” goods; “lot”; “commercial unit.”

(a) “Goods” means all things, including specially manufactured goods, that 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 (Alaska Stat. Chapter 45.08), 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 (Alaska Stat. § 45.02.107).

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Terms Used In Alaska Statutes 45.02.105

action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
buyer: means a person who buys or contracts to buy goods. See Alaska Statutes 45.02.103
Contract: A legal written agreement that becomes binding when signed.
present sale: means a sale that is accomplished by the making of the contract. See Alaska Statutes 45.02.106
seller: means a person who sells or contracts to sell goods. See Alaska Statutes 45.02.103

(b) Goods must be both existing and identified before an interest in them can pass. Goods that are not both existing and identified are “future” goods. A purported present sale of future goods or of an interest in future goods operates as a contract to sell.

(c) There may be a sale of a part interest in existing identified goods.

(d) 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 the bulk or a quantity of the bulk 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.

(e) “Lot” means a parcel or a single article that is the subject matter of a separate sale or delivery, whether or not it is sufficient to perform the contract.

(f) “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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