2016 New Jersey Revised Statutes
Title 12a - Commercial Transactions
Section 12A:2-103 - Definitions And Index Of Definitions.

12A:2-103 Definitions and index of definitions.

12A:2-103. Definitions and index of definitions.

(1)In this chapter 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 Chapter or to specified Subchapters thereof, and the sections in which they appear are:

"Acceptance"12A:2-606.
"Banker's credit"12A:2-325.
"Between merchants"12A:2-104.
"Cancellation"12A:2-106(4).
"Commercial unit"12A:2-105.
"Confirmed credit"12A:2-325.
"Conforming to contract"12A:2-106.
"Contract for sale"12A:2-106.
"Cover"12A:2-712.
"Entrusting"12A:2-403.
"Financing agency"12A:2-104.
"Future goods"12A:2-105.
"Goods"12A:2-105.
"Identification"12A:2-501.
"Installment contract"12A:2-612.
"Letter of Credit"12A:2-325.
"Lot"12A:2-105.
"Merchant"12A:2-104.
"Overseas"12A:2-323.
"Person in position of seller"12A:2-707.
"Present sale"12A:2-106.
"Sale"12A:2-106.
"Sale on approval"12A:2-326.
"Sale or return"12A:2-326.
"Termination"12A:2-106.

(3)The following definitions in other Chapters apply to this Chapter:

"Check"12A:3-104.
"Consignee"12A:7-102.
"Consignor"12A:7-102.
"Consumer goods"12A:9-102.
"Control" 12A:7-106.
"Dishonor"12A:3-502.
"Draft"12A:3-104.

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

amended 1995, c.28, s.5; 2001, c.117, s.5; 2013, c.65, s.31.