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.