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Current as of January 01, 2025 | Updated by Findlaw Staff
(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; and
(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.” KRS 355.2-606;
(b) “Banker's credit.” KRS 355.2-325;
(c) “Between merchants.” KRS 355.2-104;
(d) “Cancellation.” KRS 355.2-106 (4);
(e) “Commercial unit.” KRS 355.2-105;
(f) “Confirmed credit.” KRS 355.2-325;
(g) “Conforming to contract.” KRS 355.2-106;
(h) “Contract for sale.” KRS 355.2-106;
(i) “Cover.” KRS 355.2-712;
(j) “Entrusting.” KRS 355.2-403;
(k) “Financing agency.” KRS 355.2-104;
(l) “Future goods.” KRS 355.2-105;
(m) “Goods.” KRS 355.2-105;
(n) “Identification.” KRS 355.2-501;
(o) “Installment contract.” KRS 355.2-612;
(p) “Letter of credit.” KRS 355.2-325;
(q) “Lot.” KRS 355.2-105;
(r) “Merchant.” KRS 355.2-104;
(s) “Overseas.” KRS 355.2-323;
(t) “Person in position of seller.” KRS 355.2-707;
(u) “Present sale.” KRS 355.2-106;
(v) “Sale.” KRS 355.2-106;
(w) “Sale on approval.” KRS 355.2-326;
(x) “Sale or return.” KRS 355.2-326; and
(y) “Termination.” KRS 355.2-106.
(3) The following definitions in other articles apply to this article:
(a) “Check.” KRS 355.3-104;
(b) “Consignee.” KRS 355.7-102;
(c) “Consignor.” KRS 355.7-102;
(d) “Consumer goods.” KRS 355.9-102;
(e) “Control.” KRS 355.7-106;
(f) “Dishonor.” KRS 355.3-502; and
(g) “Draft.” KRS 355.3-104.
(4) In addition, Article 1 contains general definitions and principles of construction and interpretation applicable throughout this article.
Cite this article: FindLaw.com - Kentucky Revised Statutes Title XXIX. Commerce and Trade § 355.2-103.Definitions and index of definitions - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xxix-commerce-and-trade/ky-rev-st-sect-355-2-103/
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 before relying on it for your legal needs.
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