§ 30-2-103

30-2-103. Definitions and index of definitions. (1) In this chapter, unless the context otherwise requires, the following definitions apply: (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 parts thereof and the sections in which they appear are: 'Acceptance'. 30-2-606. 'Banker's credit'. 30-2-325. 'Between merchants'. 30-2-104. 'Cancellation'. 30-2-106(4). 'Commercial unit'. 30-2-105. 'Confirmed credit'. 30-2-325. 'Conforming to contract'. 30-2-106. 'Contract for sale'. 30-2-106. 'Cover'. 30-2-712. 'Entrusting'. 30-2-403. 'Financing agency'. 30-2-104. 'Future goods'. 30-2-105. 'Goods'. 30-2-105. 'Identification'. 30-2-501. 'Installment contract'. 30-2-612. 'Letter of credit'. 30-2-325. 'Lot'. 30-2-105. 'Merchant'. 30-2-104. 'Overseas'. 30-2-323. 'Person in position of seller'. 30-2-707. 'Present sale'. 30-2-106. 'Sale'.

Installment contract'. 30-2-612. 'Letter of credit'. 30-2-325. 'Lot'. 30-2-105. 'Merchant'. 30-2-104. 'Overseas'. 30-2-323. 'Person in position of seller'. 30-2-707. 'Present sale'. 30-2-106. 'Sale'. 30-2-106. 'Sale on approval'. 30-2-326. 'Sale or return'. 30-2-326. 'Termination'. 30-2-106. (3) The following definitions in other chapters apply to this chapter: 'Check'. 30-3-104. 'Consignee'. 30-7-102. 'Consignor'. 30-7-102. 'Consumer goods'. 30-9A-102. 'Dishonor'. 30-3-512. 'Draft'. 30-3-104. (4) In addition, chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this chapter. History: En. Sec. 2-103, Ch. 264, L. 1963; R.C.M. 1947, 87A-2-103; amd. Sec. 4, Ch. 410, L. 1991; amd. Sec. 132, Ch. 305, L. 1999.