2000 Minnesota Statutes

     336.2-103 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 336.2-606. 

    "Banker's credit," section 336.2-325. 

    "Between merchants," section 336.2-104. 

    "Cancellation," section 336.2-106(4). 

    "Commercial unit," section 336.2-105. 

    "Confirmed credit," section 336.2-325. 

    "Conforming to contract," section 336.2-106. 

    "Contract for sale," section 336.2-106. 

    "Cover," section 336.2-712. 

    "Entrusting," section 336.2-403. 

    "Financing agency," section 336.2-104. 

    "Future goods," section 336.2-105. 

    "Goods," section 336.2-105. 

    "Identification," section 336.2-501. 

    "Installment contract," section 336.2-612. 

    "Letter of credit," section 336.2-325. 

    "Lot," section 336.2-105. 

    "Merchant," section 336.2-104. 

    "Overseas," section 336.2-323. 

    "Person in position of seller," section 336.2-707. 

    "Present sale," section 336.2-106. 

    "Sale," section 336.2-106. 

    "Sale on approval," section 336.2-326. 

    "Sale or return," section 336.2-326. 

    "Termination," section 336.2-106. 

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

    "Check," section 336.3-104. 

    "Consignee," section 336.7-102. 

    "Consignor," section 336.7-102. 

    "Consumer goods," section 336.9-102. 

    "Dishonor," section 336.3-502. 

    "Draft," section 336.3-104. 

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

    HIST: 1965 c 811 s 336.2-103; 1992 c 565 s 113; 2000 c 399 art 
 2 s 3 

*   NOTE:  The amendment to this section by Laws 2000, chapter 
*399, article 2, section 3, is effective July 1, 2001.  Laws 
*2000, chapter 399, article 1, section 130.