Arkansas Code of 1987 (2023)
Title 4 - BUSINESS AND COMMERCIAL LAW (§§ 4-1-101 — 4-119-105)
Subtitle 1 - UNIFORM COMMERCIAL CODE (§§ 4-1-101 — 4-11-106)
Chapter 2 - SALES (§§ 4-2-101 — 4-2-725)
Part 1 - SHORT TITLE, GENERAL CONSTRUCTION, AND SUBJECT MATTER (§§ 4-2-101 — 4-2-107)
Section 4-2-103 - Definitions and index of definitions

Universal Citation:
AR Code § 4-2-103 (2023)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

  • (1) In this chapter unless the context otherwise requires:
    • (a) "Buyer" means a person who buys or contracts to buy goods.
    • (b) [Reserved.]
    • (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". Section 4-2-606.

    "Banker's credit". Section 4-2-325.

    "Between merchants". Section 4-2-104.

    "Cancellation". Section 4-2-106(4).

    "Commercial unit". Section 4-2-105.

    "Confirmed credit". Section 4-2-325.

    "Conforming to contract". Section 4-2-106.

    "Contract for sale". Section 4-2-106.

    "Cover". Section 4-2-712.

    "Entrusting". Section 4-2-403.

    "Financing agency". Section 4-2-104.

    "Future goods". Section 4-2-105.

    "Goods". Section 4-2-105.

    "Identification". Section 4-2-501.

    "Installment contract". Section 4-2-612.

    "Letter of credit". Section 4-2-325.

    "Lot". Section 4-2-105.

    "Merchant". Section 4-2-104.

    "Overseas". Section 4-2-323.

    "Person in position of seller". Section 4-2-707.

    "Present sale". Section 4-2-106.

    "Sale". Section 4-2-106.

    "Sale on approval". Section 4-2-326.

    "Sale or return". Section 4-2-326.

    "Termination". Section 4-2-106.

  • (3) "Control" as provided in § 4-7-106 and the following definitions in other chapters apply to this chapter:

    "Check". Section 4-3-104.

    "Consignee". Section 4-7-102.

    "Consignor". Section 4-7-102.

    "Consumer goods". Section 4-9-102.

    "Dishonor". Section 4-3-502.

    "Draft". Section 4-3-104.

  • (4) In addition, Chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.

Acts 1961, No. 185, § 2-103; A.S.A. 1947, § 85-2-103; 2001, No. 1439, § 4; 2005, No. 856, § 17; 2007, No. 342, § 8.


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