Used Good Law and Legal Definition

A used good is one that is being bought by or otherwise transferred to a later end user. A used good means a good that is not in the same condition as it was when it was first transferred to the current end user. Used goods can be transferred either for money by sale or informally between friends and family for free. Sometimes governments mandate the sale of used goods through regulated markets. For example, government often requires the sale of used firearms or cars. For the sale of some high-value used goods government licensing bodies requires certification and registration of the sale so as to prevent the sale of stolen, unregistered, or unsafe goods. It is also called second hand goods.