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". 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.