Go to Previous Versions of this Section
  1. 2024 Tennessee Code (here)
  2. 2023 Tennessee Code
  3. 2021 Tennessee Code
  4. View All Versions

2024 Tennessee Code
Title 47 - COMMERCIAL INSTRUMENTS AND TRANSACTIONS (§§ 47-1-101 — 47-50-121)
Chapter 2 - SALES (§§ 47-2-101 — 47-2-725)
Part 1 - SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER (§§ 47-2-101 — 47-2-107)
Section 47-2-103 - Definitions and index of definitions

Universal Citation:
TN Code § 47-2-103 (2024)
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.
Previous Next

  • (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 parts thereof, and the sections in which they appear are:

    "Acceptance." § 47-2-606.

    "Banker's credit." § 47-2-325.

    "Between merchants." § 47-2-104.

    "Cancellation." § 47-2-106(4).

    "Commercial unit." § 47-2-105.

    "Confirmed credit." § 47-2-325.

    "Conforming to contract." § 47-2-106.

    "Contract for sale." § 47-2-106.

    "Cover." § 47-2-712.

    "Entrusting." § 47-2-403.

    "Financing agency." § 47-2-104.

    "Future goods." § 47-2-105.

    "Goods." § 47-2-105.

    "Identification." § 47-2-501.

    "Installment contract." § 47-2-612.

    "Letter of credit." § 47-2-325.

    "Lot." § 47-2-105.

    "Merchant." § 47-2-104.

    "Overseas." § 47-2-323.

    "Person in position of seller." § 47-2-707.

    "Present sale." § 47-2-106.

    "Sale." § 47-2-106.

    "Sale on approval." § 47-2-326.

    "Sale or return." § 47-2-326.

    "Termination." § 47-2-106.

  • (3) "Control" as provided in § 47-7-106 and the following definitions in other chapters apply to this chapter:

    "Check." § 47-3-104.

    "Consignee." § 47-7-102.

    "Consignor." § 47-7-102.

    "Consumer goods." § 47-9-102.

    "Dishonor." § 47-3-502.

    "Draft." § 47-3-104.

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

Acts 1963, ch. 81, § 1 (2-103); Acts 2000, ch. 846, § 4; 2008 , ch. 814, § 3.

Previous Next
Disclaimer: These codes may not be the most recent version. Tennessee may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.