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North Carolina General Statutes Chapter 25. Uniform Commercial Code § 25-2-103. Definitions and index of definitions

Current as of January 01, 2023 | Updated by Findlaw Staff

(a) In this Article, the following definitions apply:

(1) Acceptance.--Defined in G.S. 25-2-606.

(2) Banker's credit.--Defined in G.S. 25-2-325.

(3) Between merchants.--Defined in G.S. 25-2-104.

(4) Buyer.--A person that buys or contracts to buy goods.

(5) Cancellation.--Defined in G.S. 25-2-106.

(6) Check.--Defined in G.S. 25-3-104.

(7) Commercial unit.--Defined in G.S. 25-2-105.

(8) Confirmed credit.--Defined in G.S. 25-2-325.

(9) Conforming to contract.--Defined in G.S. 25-2-106.

(10) Consignee.--Defined in G.S. 25-7-102.

(11) Consignor.--Defined in G.S. 25-7-102.

(12) Consumer goods.--Defined in G.S. 25-9-102.

(13) Contract for sale.--Defined in G.S. 25-2-106.

(14) Control.--Defined in G.S. 25-7-106.

(15) Cover.--Defined in G.S. 25-2-712.

(16) Dishonor.--Defined in G.S. 25-3-502.

(17) Draft.--Defined in G.S. 25-3-104.

(18) Entrusting.--Defined in G.S. 25-2-403.

(19) Financing agency.--Defined in G.S. 25-2-104.

(20) Future goods.--Defined in G.S. 25-2-105.

(21) Goods.--Defined in G.S. 25-2-105.

(22) Identification.--Defined in G.S. 25-2-501.

(23) Installment contract.--Defined in G.S. 25-2-612.

(24) Letter of credit.--Defined in G.S. 25-2-325.

(25) Lot.--Defined in G.S. 25-2-105.

(26) Merchant.--Defined in G.S. 25-2-104.

(27) Overseas.--Defined in G.S. 25-2-323.

(28) Person in position of seller.--Defined in G.S. 25-2-707.

(29) Present sale.--Defined in G.S. 25-2-106.

(30) Receipt.--With respect to goods, means taking physical possession of the goods.

(31) Sale.--Defined in G.S. 25-2-106.

(32) Sale on approval.--Defined in G.S. 25-2-326.

(33) Sale or return.--Defined in G.S. 25-2-326.

(34) Seller.--A person that sells or contracts to sell goods.  Any manufacturer of self-propelled motor vehicles, as defined in G.S. 20-4.01, is also a “seller” with respect to buyers of its product to which it makes an express warranty, notwithstanding any lack of privity between them, for purposes of all rights and remedies available to buyers under this Article.

(35) Termination.--Defined in G.S. 25-2-106.

(b) In addition, Article 1 of this Chapter contains general definitions and principles of construction and interpretation applicable throughout this Article.

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Cite this article: FindLaw.com - North Carolina General Statutes Chapter 25. Uniform Commercial Code § 25-2-103. Definitions and index of definitions - last updated January 01, 2023 | https://codes.findlaw.com/nc/chapter-25-uniform-commercial-code/nc-gen-st-sect-25-2-103/

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