A Dream UCC Article 2 Hypo
According to UCC, § 2-105(1), a good is anything “which are movable at the time of identification to the contract for sale.” So here, my friends, courtesy of The New York Times, is the hypo of a lifetime.
According to The Times, the developer of a 46-story building hoisted the Beaux Arts Palace Theater (above, in 1913) 30 feet in the air in order to make room for three floors of shopping space. The repurposing of the space is a much more cost-effective use of the property, which is on Times Square.
The hypo runs as follows. First we have to ask the question: how do you move a 14 million pound, 1700 seat, landmark protected theater? The answer: very slowly. It took months to complete the process. So imagine if, during that time, the theater had been sold. Would that sale be governed by Article 2?
Don’t like my hypo? How about the earlier case of the Empire Theater (above, in 1912), which in 1998 was placed on rollers and moved 170 feet up the street? A good?