goods(redirected from Good (economics and accounting))
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Items; chattels; things; any Personal Property.
Goods is a term of flexible context and meaning and extends to all tangible items.
n. items held for sale in the regular course of business, as in a retail store.
GOODS, property. For some purposes this term includes money, valuable
securities, and other mere personal effects. The term. goods and chattels,
includes not only personal property in possession, but also choses in
action. 12 Co. 1; 1 Atk. 182. The term chattels is more comprehensive than
that of goods, and will include all animate as well as inanimate property,
and also a chattel real, as a lease for years of house or land. Co. Litt.
118; 1 Russ. Rep. 376. The word goods simply and without qualification, will
pass the whole personal estate when used in a will, including even stocks in
the funds. But in general it will be limited by the context of the will.
Vide 2 Supp. to Ves. jr. 289; 1 Chit. Pr. 89, 90; 1. Ves. jr. 63; Hamm. on
Parties, 182; 3 Ves. 212; 1 Yeates, 101; 2 Dall. 142; Ayl. Pand. 296; Wesk.
Ins. 260; 1 Rop. on Leg. 189; 1 Bro. C. C. 128; Sugd. Vend. 493, 497; and
the articles Biens; Chattels; Furniture.
2. Goods are said to be of different kinds, as adventitious, such as are given or arise otherwise than by succession; dotal goods, or those which accrue from a dowry, or marriage portion; vacant goods, those which are abandoned or left at large.