What is an Account in the context of UCC Article 9?

In the context of UCC Article 9, an Account refers specifically to a right to payment for goods sold or services rendered that is not evidenced by an instrument or a chattel paper. This definition encompasses a promise to pay the debtor later on a monetary obligation, which accurately summarizes the nature of an Account. In essence, it covers any form of receivable, where the debtor owes money to the creditor for transactions that have already taken place.

The other choices provided do not accurately define what an Account is within UCC Article 9. A right to a physical asset pertains more to tangible personal property rather than receivables, which the definition of an Account covers. A type of bank account is too narrow because it refers specifically to a financial institution's account rather than the broader concept of what constitutes an Account under UCC regulations. Lastly, a legal claim against the federal government is unrelated to the nature of Accounts, which focus on the rights to payments for goods or services rather than claims against government entities. Understanding the precise definition of Accounts is crucial in recognizing how secured transactions operate under UCC Article 9.