554.2104 Definitions: 'merchant' — 'between merchants' — 'financing agency'. 1. 'Merchant' means a person who deals in goods of the kind or otherwise by the person’s occupation holds that person out as having knowledge or skill peculiar to the practices orgoods involved in the transaction or to whom such knowledge or skill may be attributed by theperson’s employment of an agent or broker or other intermediary who by the intermediary’soccupation holds the intermediary out as having such knowledge or skill. 2. 'Financing agency' means a bank, finance company or other person who in the ordinary course of business makes advances against goods or documents of title or who byarrangement with either the seller or the buyer intervenes in ordinary course to make orcollect payment due or claimed under the contract for sale, as by purchasing or paying theseller’s draft or making advances against it or by merely taking it for collection whetheror not documents of title accompany or are associated with the draft. 'Financing agency'includes also a bank or other person who similarly intervenes between persons who are inthe position of seller and buyer in respect to the goods (section 554.2707). with the draft. 'Financing agency'includes also a bank or other person who similarly intervenes between persons who are inthe position of seller and buyer in respect to the goods (section 554.2707). 3. 'Between merchants' means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants. [S13, §3138-b34, -b36; C24, 27, 31, 35, 39, §8279, 8281; C46, 50, 54, 58, 62, §487.35, 487.37; C66, 71, 73, 75, 77, 79, 81, §554.2104] 2007 Acts, ch 30, §45, 46, 49Referred to in §546A.1, 554.2103, 554.9102, 554.13103 Sat Dec 23 01:49:24 2023 Iowa Code 2024, Section 554.2104 (24, 0)
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