Business and Personal Finance Dictionary

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• ACCOUNTS
  
  A category of personal property defined by Article 9 of the UCC. Under the pre-2000 version of Article 9, an account is a right to receive payment for goods sold or leased, or for services rendered, where these rights are not evidenced by an instrument or by chattel paper. Under the revised Article 9, the definition of accounts is much broader. The revised definition covers a much wider variety of payment obligations, whether or not earned by performance, including license fees payable for the use of software, credit card receivables, and healthcare insurance receivables.
  
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