Current as of January 01, 2020 | Updated by FindLaw Staff
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1. In this Article 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 Article or to specified Parts thereof, and the sections in which they appear are:
a. “Acceptance” Section 554.2606
b. “Banker’s credit” Section 554.2325
c. “Between merchants” Section 554.2104
d. “Cancellation” Section 554.2106(4)
e. “Commercial unit” Section 554.2105
f. “Confirmed credit” Section 554.2325
g. “Conforming to contract” Section 554.2106
h. “Contract for sale” Section 554.2106
i. “Cover” Section 554.2712
j. “Entrusting” Section 554.2403
k. “Financing agency” Section 554.2104
l. “Future goods” Section 554.2105
m. “Goods” Section 554.2105
n. “Identification” Section 554.2501
o. “Installment contract” Section 554.2612
p. “Letter of credit” Section 554.2325
q. “Lot” Section 554.2105
r. “Merchant” Section 554.2104
s. “Overseas” Section 554.2323
t. “Person in position of seller” Section 554.2707
u. “Present sale” Section 554.2106
v. “Sale” Section 554.2106
w. “Sale on approval” Section 554.2326
x. “Sale or return” Section 554.2326
y. “Termination” Section 554.2106
3. The following definitions in other Articles apply to this Article:
a. “Check” Section 554.3104
b. “Consignee” Section 554.7102
c. “Consignor” Section 554.7102
d. “Consumer goods” Section 554.9102
e. “Control” Section 554.7106
f. “Dishonor” Section 554.3502
g. “Draft” Section 554.3104
4. In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
Cite this article: FindLaw.com - Iowa Code Title XIII. Commerce [Chs. 505-554D] § 554.2103. Definitions and index of definitions - last updated January 01, 2020 | https://codes.findlaw.com/ia/title-xiii-commerce-chs-505-554d/ia-code-sect-554-2103/
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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