Current through L. 2024, ch. 259
Section 47-2103 - Definitions and index of definitionsA. In this chapter, unless the context otherwise requires: 1. "Buyer" means a person who buys or contracts to buy goods.2. "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.3. "Receipt" of goods means taking physical possession of them.4. "Seller" means a person who sells or contracts to sell goods.B. Other definitions applying to this chapter, and the sections in which they appear, are: 1. "Acceptance". Section 47-2606.2. "Banker's credit". Section 47-2325.3. "Between merchants". Section 47-2104.4. "Cancellation". Subsection D of section 47-2106.5. "Commercial unit". Section 47-2105.6. "Confirmed credit". Section 47-2325.7. "Conforming to contract". Section 47-2106.8. "Contract for sale". Section 47-2106.9. "Cover". Section 47-2712.10. "Entrusting". Section 47-2403.11. "Financing agency". Section 47-2104.12. "Future goods". Section 47-2105.13. "Goods". Section 47-2105.14. "Identification". Section 47-2501.15. "Installment contract". Section 47-2612.16. "Letter of credit". Section 47-2325.17. "Lot". Section 47-2105.18. "Merchant". Section 47-2104.19. "Overseas". Section 47-2323.20. "Person in position of seller". Section 47-2707.21. "Present sale". Section 47-2106.22. "Sale". Section 47-2106.23. "Sale on approval". Section 47-2326.24. "Sale or return". Section 47-2326.25. "Termination". Section 47-2106.C. "Control" as provided in section 47-7106 and the following definitions in other chapters apply to this chapter: 1. "Check". Section 47-3104.2. "Consignee". Section 47-7102.3. "Consignor". Section 47-7102.4. "Consumer goods". Section 47-9102.5. "Dishonor". Section 47-3502.6. "Draft". Section 47-3104.D. In addition, chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.