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Identifying Fungible Goods Under The Ucc Through A Contextual Lens, Chunlin Leonhard, John M. Wunderlich

Chunlin Leonhard

Economic downturn causes warehouses to fill up with goods. Many of these goods are fungible products. Some have been purchased, some not. But how these fungible goods are identified in these warehouses – separated and segregated out – for particular customers is of vital importance in certain circumstances. This article seeks to clarify one of those elusive legal concepts under the Uniform Commercial Code (“UCC”) as it pertains to sales contracts: the identification of fungible goods. Under UCC Article 2, parties’ rights and obligations sometimes depend on whether the goods have been identified to the contract. A survey of the …