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2020 Oklahoma Statutes
Title 12A. Commercial Code
§12A-2-103. Definitions and Index of Definitions.

Universal Citation: 12A OK Stat § 12A-2-103 (2020)
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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)“Receipt” of goods means taking physical possession of them.
  • (c)“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 2-606 of this title.

“Banker's credit”. Section 2-325 of this title.

“Between merchants”. Section 2-104 of this title.

“Cancellation”. Section 2-106(4) of this title.

“Commercial unit”. Section 2-105 of this title.

“Confirmed credit”. Section 2-325 of this title.

“Conforming to contract”. Section 2-106 of this title.

“Contract for sale”. Section 2-106 of this title.

“Cover”. Section 2-712 of this title.

“Entrusting”. Section 2-403 of this title.

“Financing agency”. Section 2-104 of this title.

“Future goods”. Section 2-105 of this title.

“Goods”. Section 2-105 of this title.

“Identification”. Section 2-501 of this title.

“Installment contract”. Section 2-612 of this title.

“Letter of credit”. Section 2-325 of this title.

“Lot”. Section 2-105 of this title.

“Merchant”. Section 2-104 of this title.

“Overseas”. Section 2-323 of this title.

“Person in position of seller”. Section 2-707 of this title.

“Present sale”. Section 2-106 of this title.

“Sale”. Section 2-106 of this title.

“Sale on approval”. Section 2-326 of this title.

“Sale or return”. Section 2-326 of this title.

“Termination”. Section 2-106 of this title.

(3) “Control” as provided in Section 7-106 of this title and the following definitions in other articles apply to this article:

“Check”. Section 3-104 of this title.

“Consignee”. Section 7-102 of this title.

“Consignor”. Section 7-102 of this title.

“Consumer goods”. Section 1-9-102 of this title.

“Dishonor”. Section 3-502 of this title.

“Draft”. Section 3-104 of this title.

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

Added by Laws 1961, p. 74, § 2-103. Amended by Laws 1994, c. 46, § 2, eff. Sept. 1, 1994; Laws 2000, c. 371, § 148, eff. July 1, 2001; Laws 2005, c. 140, § 42, eff. Jan. 1, 2006; Laws 2005, c. 473, § 1, emerg. eff. June 9, 2005.

NOTE: Laws 2005, c. 139, § 24 repealed by Laws 2005, c. 473, § 3, emerg. eff. June 9, 2005.

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