§§ 400.2-103, RSMo

Current with changes from the 2024 Legislative Session

Section 400.2-103 - 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)"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 article or to specified parts thereof, and the sections in which they appear are:

"Acceptance".	Section 400.2-606.
"Banker's credit".	Section 400.2-325.
"Between merchants".	Section 400.2-104.
"Cancellation".	Section 400.2-106(4).
"Commercial unit".	Section 400.2-105.
"Confirmed credit".	Section 400.2-325.
"Conforming to contract".	Section 400.2-106.
"Contract for sale".	Section 400.2-106.
"Cover".	Section 400. 2-712.
"Entrusting".	Section 400.2-403.
"Financing agency".	Section 400.2-104.
"Future goods".	Section 400.2-105.
"Goods".	Section 400.2-105.
"Identification".	Section 400.2-501.
"Installment contract".	Section 400.2-612.
"Letter of credit".	Section 400.2-325.
"Lot".	Section 400.2-105.
"Merchant".	Section 400.2-104.
"Overseas".	Section 400.2-323.
"Person in position of seller".	Section 400.2-707.
"Present sale".	Section 400.2-106.
"Sale".	Section 400.2-106.
"Sale on approval".	Section 400.2-326.
"Sale or return".	Section 400.2-326.
"Termination".	Section 400.2-106.

(3) The following definitions in other articles apply to this article:

"Check".	Section 400.3-104.
"Consignee".	Section 400.7-102.
"Consignor".	Section 400.7-102.
"Consumer goods".	Section 400.9-102.
"Dishonor".	Section 400.3-502.
"Draft".	Section 400.3-104.

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

§§ 400.2-103, RSMo

L. 1963 p. 503 § 2-103, A.L. 2001 S.B. 288
Effective 7/1/2001