47-2103. Definitions and index of definitions

273 words·~1 min read·/az/title-47/47-2103

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. In this chapter, unless the context otherwise requires:

1. "Buyer" means a person who buys or contracts to buy goods.

2. "Good faith" in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

3. "Receipt" of goods means taking physical possession of them.

4. "Seller" means a person who sells or contracts to sell goods.

B. Other definitions applying to this chapter, and the sections in which they appear, are:

1. "Acceptance". Section 47-2606.

2. "Banker's credit". Section 47-2325.

3. "Between merchants". Section 47-2104.

4. "Cancellation". Subsection D of section 47-2106.

5. "Commercial unit". Section 47-2105.

6. "Confirmed credit". Section 47-2325.

7. "Conforming to contract". Section 47-2106.

8. "Contract for sale". Section 47-2106.

9. "Cover". Section 47-2712.

10. "Entrusting". Section 47-2403.

11. "Financing agency". Section 47-2104.

12. "Future goods". Section 47-2105.

13. "Goods". Section 47-2105.

14. "Identification". Section 47-2501.

15. "Installment contract". Section 47-2612.

16. "Letter of credit". Section 47-2325.

17. "Lot". Section 47-2105.

18. "Merchant". Section 47-2104.

19. "Overseas". Section 47-2323.

20. "Person in position of seller". Section 47-2707.

21. "Present sale". Section 47-2106.

22. "Sale". Section 47-2106.

23. "Sale on approval". Section 47-2326.

24. "Sale or return". Section 47-2326.

25. "Termination". Section 47-2106.

C. "Control" as provided in section 47-7106 and the following definitions in other chapters apply to this chapter:

1. "Check". Section 47-3104.

2. "Consignee". Section 47-7102.

3. "Consignor". Section 47-7102.

4. "Consumer goods". Section 47-9102.

5. "Dishonor". Section 47-3502.

6. "Draft". Section 47-3104.

D. In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.