2006 New Mexico Statutes - 55-2-103 — Definitions and index of definitions.

55-2-103. 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)     [reserved]; 

(c)     "receipt" of goods means taking physical possession of them; and 

(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 55-2-606 NMSA 1978;       "banker's credit".  . . . . . . . . . . . . . .  Section 55-2-325 NMSA 1978;       "between merchants".  . . . . . . . .  Section 55-2-104 NMSA 1978;       "cancellation".  . . . . . . . . . . . Section 55-2-106 NMSA 1978;       "commercial unit".  . . . . . . . . . Section 55-2-105 NMSA 1978;       "confirmed credit".  . . . . . . . . .  Section 55-2-325 NMSA 1978;       "conforming to contract".  . . . . . . Section 55-2-106 NMSA 1978;       "contract for sale".  . . . . . . . .  Section 55-2-106 NMSA 1978;       "cover".  . . . . . . . . . . . . . .  Section 55-2-712 NMSA 1978;       "entrusting".  . . . . . . . . . . . . Section 55-2-403 NMSA 1978;       "financing agency".  . . . . . . . . . Section 55-2-104 NMSA 1978;       "future goods".  . . . . . . . . . .  Section 55-2-105 NMSA 1978;       "goods".  . . . . . . . . . . . . . .  Section 55-2-105 NMSA 1978;       "identification".  . . . . . . . . . . Section 55-2-501 NMSA 1978;       "installment contract".  . . . . . . . Section 55-2-612 NMSA 1978;       "letter of credit".  . . . . . . . .  Section 55-2-325 NMSA 1978;       "lot".  . . . . . . . . . . . . . . . Section 55-2-105 NMSA 1978;       "merchant".  . . . . . . . . . . . . . Section 55-2-104 NMSA 1978;       "overseas".  . . . . . . . . . . . . . Section 55-2-323 NMSA 1978;       "person in the position of a  seller". . . . . . . .  Section 55-2-707 NMSA 1978;       "present sale".  . . . . . . . . . . . Section 55-2-106 NMSA 1978;       "sale".  . . . . . . . . . . . . . . . Section 55-2-106 NMSA 1978;       "sale on approval".  . . . . . . . . .  Section 55-2-326 NMSA 1978;       "sale or return".  . . . . . . . . . . Section 55-2-326 NMSA 1978; and        "termination".  . . . . . . . . . . .  Section 55-2-106 NMSA 1978.   

(3)     "Control", as provided in Section 55-7-106 NMSA 1978, and the following definitions in other articles apply to this article: 

       "check".  . . . . . . . . . . . . . . Section 55-3-104 NMSA 1978;       "consignee".  . . . . . . . . . . . .  Section 55-7-102 NMSA 1978;       "consignor".  . . . . . . . . . . . .  Section 55-7-102 NMSA 1978;       "consumer goods".  . . . . . . . . .   Section  55-9-102 NMSA 1978;       "dishonor".  . . . . . . . . . . . . . Section 55-3-502 NMSA 1978; and        "draft".  . . . . . . . . . . . . . .  Section 55-3-104 NMSA 1978.   

(4)     In addition, Chapter 55, Article 1 NMSA 1978 contains general definitions and principles of construction and interpretation applicable throughout this article.