Ala. Code § 7-2-103 (1975) Definitions and Index of Definitions

• Library: Alabama Statutes
• Edition: 2023
• Currency: Current with legislation from the 2023 Regular and Special Sessions.
• Year: 2023
• Citation: Ala. Code § 7-2-103 (1975)

(1) In this article unless the context otherwise requires:

(a) "Buyer" means a person who buys or contracts to buy goods.

(b) "Good faith" in the case of a merchant means honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.

(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:

"Acceptance." Section 7-2-606.

"Banker's credit." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Letter of credit" term; "confirmed credit."">7-2-325</codecitation>.</para>

"Between merchants." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Merchant"; "between merchants"; "financing agency."">7-2-104</codecitation>.</para>

"Cancellation." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation."">7-2-106</codecitation> (4).</para>

"Commercial unit." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Transferability"; "goods"; "future goods"; "lot"; "commercial unit."">7-2-105</codecitation>.</para>

"Confirmed credit." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Letter of credit" term; "confirmed credit."">7-2-325</codecitation>.</para> <para>"Conforming to contract." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation.""><codesec>7-2-106</codesec></codecitation>.</para> <para>"Contract for sale." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation.""><codesec>7-2-106</codesec></codecitation>.</para> <para>" Cover. " Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Cover"; buyer's procurement of substitute goods"><codesec>7-2-712</codesec></codecitation>.</para> <para>"Entrusting." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Power to transfer; good faith purchase of goods; "entrusting.""><codesec>7-2-403</codesec></codecitation>.</para> <para>"Financing agency." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Merchant"; "between merchants"; "financing agency.""><codesec>7-2-104</codesec></codecitation>.</para> <para>"Future goods." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Transferability"; "goods"; "future goods"; "lot"; "commercial unit.""><codesec>7-2-105</codesec></codecitation>.</para> <para>" Goods. " Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Transferability"; "goods"; "future goods"; "lot"; "commercial unit.""><codesec>7-2-105</codesec></codecitation>.</para> <para>"Identification." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Insurable interest in goods; manner of identification of goods"><codesec>7-2-501</codesec></codecitation>.</para> <para>"Installment contract." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Installment contract"; breach"><codesec>7-2-612</codesec></codecitation>.</para> <para>"Letter of credit." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Letter of credit" term; "confirmed credit.""><codesec>7-2-325</codesec></codecitation>.</para> <para>"Lot." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Transferability"; "goods"; "future goods"; "lot"; "commercial unit.""><codesec>7-2-105</codesec></codecitation>.</para> <para>"Merchant." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Merchant"; "between merchants"; "financing agency.""><codesec>7-2-104</codesec></codecitation>.</para> <para>"Overseas." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Form of bill of lading required in overseas shipment; "overseas.""><codesec>7-2-323</codesec></codecitation>.</para> <para>"Person in position of seller." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline=""Person in the position of a seller.""><codesec>7-2-707</codesec></codecitation>.</para> <para>"Present sale." Section <codecitation statecd="AL" sessionyear="2023" datatype="S" title="7" catchline="Definitions: "Contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation.""><codesec>7-2-106</codesec></codecitation>.</para...