general intangible

general intangible
general intangible n: any personal property that is not an account, chattel paper, document, instrument, goods, or money esp. as identified by section 9-106 of the Uniform Commercial Code

Merriam-Webster’s Dictionary of Law. . 1996.

general intangible
USA
Defined in the UCC as any personal property, including things in action, other than:
• commercial tort claims.
• deposit accounts.
• goods.
• letter-of-credit rights.
• money.
• Oil, gas, or other minerals before extraction.
The term includes payment intangibles and software (UCC §9-102(a)(42)). A general intangible is an asset type over which an entity can grant a security interest under Article 9 of the UCC.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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