Sale of Manufactured Goods
Connor Clark sold industrial equipment to a buyer on credit. The buyer owes a fixed sum for the equipment delivered last month. That right to payment qualifies as an account because it arises from property sold.
Also known as: Charter of Rights and Freedoms · Canadian Charter · Charter · CCRF
Written by attorneys · grounded in primary & secondary sources — see below
A right to payment of a monetary obligation, whether or not earned by performance, for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, for services rendered or to be rendered, for a policy of insurance issued or to be issued, for a secondary obligation incurred or to be incurred, for energy provided or to be provided, for the use or hire of a vessel under a charter or other contract, arising out of the use of a credit or charge card or information contained on or for use with the card, or as winnings in a lottery or other game of chance operated or sponsored by a State, governmental unit of a State, or person licensed or authorized to operate the game by a State or governmental unit of a State. The term includes health-care-insurance receivables but does not include chattel paper, commercial tort claims, deposit accounts, investment property, letter-of-credit rights or letters of credit, rights to payment for money or funds advanced or sold other than rights arising out of the use of a credit or charge card or information contained on or for use with the card, or rights to payment evidenced by an instrument.
Connor Clark sold industrial equipment to a buyer on credit. The buyer owes a fixed sum for the equipment delivered last month. That right to payment qualifies as an account because it arises from property sold.
Cody Callahan provided vessel charter services to a client who now owes payment for the completed voyage. The receivable is an account because it stems from services rendered under a charter contract.
Select any source to read its text and confirm it supports the definition.
Carmen Choi issued a liability insurance policy to a policyholder who owes the first premium installment. The right to that premium payment constitutes an account because it arises from an insurance policy issued.
Christopher Collins used his credit card to purchase supplies. The issuer holds a right to payment from the cardholder for those charges. That right is an account because it arises from use of a credit card.
Chloe Chen won a state lottery prize to be paid in installments. The state's obligation to make those payments is an account because it constitutes winnings in a game of chance sponsored by a State.
Cameron Cruz contracted to supply electricity to a commercial customer who now owes for power delivered. The receivable qualifies as an account because it arises from energy provided under the supply agreement.
Rights to payment for sold property, rendered services, issued insurance policies, secondary obligations, supplied energy, vessel charters, credit card use, and state-sponsored lottery winnings all qualify. Health-care-insurance receivables are expressly included.
Supporting sources
Chattel paper, commercial tort claims, deposit accounts, investment property, letter-of-credit rights, rights to payment for money advanced or sold (except credit card rights), and rights evidenced by an instrument are all excluded.
Supporting sources
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