§ 2-103. Definitions and Index of Definitions

244 words·~1 min read·/us/ucc/a2/s2-103

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(1)In this Article 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 Article or to specified Parts thereof, and the sections in which they appear are: "Acceptance". Section 2-606. "Banker's credit". Section 2-325. "Between Merchants". Section 2-104. "Cancellation". Section 2-106(4).) "Commercial unit". Section 2-105. "Confirmed credit". Section 2-325. "Conforming to contract". Section 2-106. "Contract for sale". Section 2-106. "Cover". Section 2-712. "Entrusting". Section 2-403. "Financing agency". Section 2-104. "Future Goods". Section 2-105. "Goods". Section 2-105. "Identification". Section 2-501. "Installment contract". Section 2-612. "Letter of Credit". Section 2-325. "Lot". Section 2-105. "Merchant". Section 2-104. "Overseas". Section 2-323. "Person in position of Seller". Section 2-707. "Present sale". Section 2-106. "Sale". Section 2-106. "Sale on approval". Section 2-326. "Sale or return". Section 2-326. "Termination". Section 2-106.

(3)The following definitions in other Articles apply to this Article: "Check". Section 3-104. "Consignee". Section 7-102. "Consignor". Section 7-102. "Consumer Goods". Section 9-109. "Dishonor". Section 3-507. "Draft". Section 3-104.

(4)In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.