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Current as of March 28, 2024 | Updated by FindLaw Staff
(1) In this chapter 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.
(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”. Section 4-2-606.
“Banker's credit”.Section 4-2-325.
“Between merchants”.Section 4-2-104.
“Cancellation”. Section 4-2-106(4).
“Commercial unit”.Section 4-2-105.
“Confirmed credit”.Section 4-2-325.
“Conforming to contract”.Section 4-2-106.
“Contract for sale”.Section 4-2-106.
“Cover”. Section 4-2-712.
“Entrusting”. Section 4-2-403.
“Financing agency”.Section 4-2-104.
“Future goods”.Section 4-2-105.
“Goods”. Section 4-2-105.
“Identification”. Section 4-2-501.
“Installment contract”.Section 4-2-612.
“Letter of credit”.Section 4-2-325.
“Lot”. Section 4-2-105.
“Merchant”. Section 4-2-104.
“Overseas”. Section 4-2-323.
“Person in position of seller”.Section 4-2-707.
“Present sale”.Section 4-2-106.
“Sale”. Section 4-2-106.
“Sale on approval”.Section 4-2-326.
“Sale or return”.Section 4-2-326.
“Termination”. Section 4-2-106.
(3) “Control” as provided in § 4-7-106 and the following definitions in other chapters apply to this chapter:
“Check”. Section 4-3-104.
“Consignee”. Section 4-7-102.
“Consignor”. Section 4-7-102.
“Consumer goods”.Section 4-9-102.
“Dishonor”. Section 4-3-502.
“Draft”. Section 4-3-104.
(4) In addition, Chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter.
Cite this article: FindLaw.com - Arkansas Code Title 4. Business and Commercial Law § 4-2-103. Definitions and index of definitions - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-4-business-and-commercial-law/ar-code-sect-4-2-103/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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