12A:2-103 Definitions and index of definitions.
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/nj/title-12a/chapter-2/12a-2-103A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Definitions and index of definitions.
(1)In this chapter unless the context otherwise requires:
(a)"Buyer" means a person who buys or contracts to buy goods.
(b)"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.
(c)"Receipt" of goods means taking physical possession of them.
(d)"Seller" means a person who sells or contracts to sell goods.
(2)Other definitions applying to this Chapter or to specified Subchapters thereof, and the sections in which they appear are:
"Acceptance" 12A:2-606.
"Banker's credit" 12A:2-325.
"Between merchants" 12A:2-104.
"Cancellation" 12A:2-106(4).
"Commercial unit" 12A:2-105.
"Confirmed credit" 12A:2-325.
"Conforming to contract" 12A:2-106.
"Contract for sale" 12A:2-106.
"Cover" 12A:2-712.
"Entrusting" 12A:2-403.
"Financing agency" 12A:2-104.
"Future goods" 12A:2-105.
"Goods" 12A:2-105.
"Identification" 12A:2-501.
"Installment contract" 12A:2-612.
"Letter of Credit" 12A:2-325.
"Lot" 12A:2-105.
"Merchant" 12A:2-104.
"Overseas" 12A:2-323.
"Person in position of seller" 12A:2-707.
"Present sale" 12A:2-106.
"Sale" 12A:2-106.
"Sale on approval" 12A:2-326.
"Sale or return" 12A:2-326.
"Termination" 12A:2-106.
(3)The following definitions in other Chapters apply to this Chapter:
"Check" 12A:3-104.
"Consignee" 12A:7-102.
"Consignor" 12A:7-102.
"Consumer goods" 12A:9-102.
"Control" 12A:7-106.
"Dishonor" 12A:3-502.
"Draft" 12A:3-104.
(4)In addition Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this Chapter.
amended 1995, c.28, s.5; 2001, c.117, s.5; 2013, c.65, s.31.