Iowa Code § 554.2103

Current through bills signed by governor as of 5/17/2024

Section 554.2103 - 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. 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.

Iowa Code § 554.2103

C24, 27, 31, 35, 39, §10005; C46, 50, 54, 58, 62, §554.77; C66, 71, 73, 75, 77, 79, 81, §554.2103 94 Acts, ch 1167, §8, 122; 2000 Acts, ch 1149, §140, 187; 2007 Acts, ch 30, §45, 46, 48; 2007 Acts, ch 41, §23; 2012 Acts, ch 1023, §144, 157

Referred to in §554.7102, 554.13103

Section not amended; editorial change applied