Current with changes through 2024
Section 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) "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) "Control" as provided in section 7-106 and 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 9-102. |
"Dishonor". | Section 3-502. |
"Draft". | Section 3-104. |
(4) In addition article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.Laws 1963, c. 544, Art. II, § 2-103, p. 1706; Laws 1991, LB 161, § 3; Laws 1999, LB 550, § 54; Laws 2005, LB 570, § 30.