2018 New Mexico Statutes
Chapter 55 - Uniform Commercial Code
Article 2 - Sales
Section 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:

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

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

History: 1953 Comp., § 50A-2-103, enacted by Laws 1961, ch. 96, § 2-103; 1993, ch. 214, § 2; 2001, ch. 139, § 128; 2005, ch. 144, § 25.

OFFICIAL COMMENTS

UCC Official Comments by ALI & the NCCUSL. Reproduced with permission of the PEB for the UCC. All rights reserved.

Prior uniform statutory provision. — Subsection (1): Section 76, Uniform Sales Act.

Changes. — The definitions of "buyer" and "seller" have been slightly rephrased, the reference in Section 76 of the prior act to "any legal successor in interest of such person" being omitted. The definition of "receipt" is new.

1. The phrase "any legal successor in interest of such person" has been eliminated since Section 2-210 [55-2-210 NMSA 1978] of this article, which limits some types of delegation of performance on assignment of a sales contract, makes it clear that not every such successor can be safely included in the definition. In every ordinary case, however, such successors are as of course included.

2. "Receipt" must be distinguished from delivery particularly in regard to the problems arising out of shipment of goods, whether or not the contract calls for making delivery by way of documents of title, since the seller may frequently fulfill his obligations to "deliver" even though the buyer may never "receive" the goods. Delivery with respect to documents of title is defined in Article 1 and requires transfer of physical delivery of a tangible document of title and transfer of control of an electronic document of title. Otherwise the many divergent incidents of delivery are handled incident by incident.

Point 1: See Section 2-210 and Comment thereon.

Point 2: Section 1-201.

Definitional cross reference. — "Person". Section 1-201 [55-1-201 NMSA 1978].

The 2005 amendment, effective January 1, 2006, deleted the definition of "good faith" in Subsection (1)(b) and defined "control" in Subsection (3) to include the meaning of "control" as provided in Section 55-7-106 NMSA 1978.

The 2001 amendment, effective July 1, 2001, substituted "Chapter 55, Article 1 NMSA 1978" for "Article 1" in Subsection (4).

The 1993 amendment, effective July 1, 1993, made a stylistic change in Subsection (1), substituted NMSA 1978 citations for Uniform Commercial Code citations throughout Subsections (2) and (3), and substituted "consumer goods" for "consumer of goods" in Subsection (3).

Law reviews. — For article, "Buyers and Sellers of Goods in Bankruptcy," see 1 N.M. L. Rev. 435 (1971).

Am. Jur. 2d, A.L.R. and C.J.S. references. — 15A Am. Jur. 2d Commercial Code § 39.

77A C.J.S. Sales § 1 et seq.; 82 C.J.S. Statutes § 315.