Jurisdiction(s):
United Kingdom

Key definition

Goods definition

What does Goods mean? In legal practice, goods are tangible, movable items that are bought, sold, supplied or hired under commercial or consumer contracts. Across the UK and Ireland, legislation defines the term: the Sale of Goods Act 1979 (England & Wales and Scotland), the Sale of Goods Act (Northern Ireland) 1979, and in Ireland the Sale of Goods Act 1893 as amended by the 1980 Act. Broadly, goods comprise all personal chattels (in Scotland, all corporeal moveables) other than money and things in action. The statutory definition includes emblements and industrial growing crops, and items attached to or forming part of land...

Goods mortgages: key drafting and enforcement provisions under the proposed Goods Mortgages Bill, including qualifying goods, secured obligations, warnings, declarations, execution and registration (England and Wales) [Archived]

Published by a LexisNexis Banking & Finance expert

Practice notes

ARCHIVED:

What is the proposed Goods mortgage?

On 14 May 2018, HM Treasury (HMT) released its conclusions after reviewing responses to its 22 September 2017 consultation on reforming the Bills of Sale Acts. In light of the concerns identified, the small and shrinking market, and wider work on high‑cost credit, the government confirmed it does not intend to bring forward legislation at this time. For further details, see News: Goods Mortgages Bill: HM Treasury’s response to consultation—LNB News 14/05/2018 28. Accordingly, this Practice Note is retained for background information only. On 23 November 2017, the Law Commission published its report on the Goods Mortgages Bill, containing the final version of the Bill together with its Recommendations. Jacqueline Cook, a member of the Lexis®PSL Banking & Finance consulting editorial board and senior professional support lawyer in the finance practice at Stephenson Harwood LLP, London, sets out an overview of key provisions that will need to be included in, or assessed when drafting, a goods mortgage to align with the new legislation when it comes into force...

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Jacqueline Cook

Sullivan & Worcester UK LLP

Jacqueline is an active member of several networks on law reform and practice, including the Secured Transactions Law Reform Project and keeps the Finance team up-to-date on law and practice often advising on elements of finance transactions and feeding this back into training and practice. She provides specialist finance and skills training as well as drafting precedent documentation. Jacqueline specialises in banking, syndicated lending, acquisition finance, real estate and structured finance and has a wide range of international experience. She has experience in legal training, precedent drafting, current awareness and knowledge management. She has more recently worked in asset finance and has published an article on the Williams Rail Review on reform of the rail industry. She has also been involved with the Cape Town Convention Academic Project. During her time with Lexis Nexis, she penned several 'Legal Ease' articles in the Journal of...

Web page updated on 21/05/2026

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