§ 355-2-103

355.2 -103 Definitions and index of definitions. (1) In this article unless the context otherwise requires: (a) 'Buyer' means a person who buys or contracts to buy goods; (b) (Reserved) (c) 'Receipt' of goods means taking physical possession of them; and (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: (a) 'Acceptance.' KRS 355.2 -606; (b) 'Banker's credit.' KRS 355.2 -325; (c) 'Between merchants.' KRS 355.2 -104; (d) 'Cancell ation.' KRS 355.2 -106 (4); (e) 'Commercial unit.' KRS 355.2 -105; (f) 'Confirmed credit.' KRS 355.2 -325; (g) 'Conforming to contract.' KRS 355.2 -106; (h) 'Contract for sale.' KRS 355.2 -106; (i) 'Cover.' KRS 355.2 -712; (j) 'Entrusting.' KRS 355.2 -403; (k) 'Financing agency.' KRS 355.2 -104; (l) 'Future goods.' KRS 355.2 -105; (m) 'Goods.' KRS 355.2 -105; (n) 'Identification.' KRS 355.2 -501; (o) 'Installment contract.' KRS 355.2 -612; (p) 'Letter of credit.' KRS 355.2 -325; (q) 'Lot.' KRS 355.2 -105; (r) 'Merchant .' KRS 355.2 -104; (s) 'Overseas.' KRS 355.2 -323; (t) 'Person in position of seller.' KRS 355.2 -707;

KRS 355.2 -612; (p) 'Letter of credit.' KRS 355.2 -325; (q) 'Lot.' KRS 355.2 -105; (r) 'Merchant .' KRS 355.2 -104; (s) 'Overseas.' KRS 355.2 -323; (t) 'Person in position of seller.' KRS 355.2 -707; (u) 'Present sale.' KRS 355.2 -106; (v) 'Sale.' KRS 355.2 -106; (w) 'Sale on approval.' KRS 355.2 -326; (x) 'Sale or return.' KRS 355.2 -326; and (y) 'Terminati on.' KRS 355.2 -106. (3) The following definitions in other articles apply to this article: (a) 'Check.' KRS 355.3 -104; (b) 'Consignee.' KRS 355.7 -102; (c) 'Consignor.' KRS 355.7 -102; (d) 'Consumer goods.' KRS 355.9 -102; (e) 'Control.' KRS 355.7 -106; (f) 'Dishonor.' KRS 355.3 -502; and (g) 'Draft.' KRS 355.3 -104. (4) In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article. Effective: July 12, 2012 History: Amended 2012 Ky. Acts ch. 132, sec. 45, effective July 12, 2012. -- Amended 2006 Ky. Acts ch. 242, sec. 25, effective July 12, 2006. -- Amended 2000 Ky. Acts ch. 408, sec. 158, effective July 1, 2001. -- Created 1958 Ky. Acts ch. 77, sec. 2 -103, effective July 1, 1960. Legislative Research Commission Note (7/12/2006).

y 12, 2006. -- Amended 2000 Ky. Acts ch. 408, sec. 158, effective July 1, 2001. -- Created 1958 Ky. Acts ch. 77, sec. 2 -103, effective July 1, 1960. Legislative Research Commission Note (7/12/2006). Under the authority of KRS 7.136(1), the Reviser of Statutes has added paragraph headings [(a), (b), etc.] before terms referenced in subsections (2) and (3) of this statute that are defined in other statutes. The words in the text were not changed.