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

   1. (a) Buyer means a person who buys or contracts to buy goods.
   2. (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.
   3. (c) Receipt of goods means taking physical possession of them.
   4. (d) Seller means a person who sells or contracts to sell goods.

2. (2) Other definitions applying to this article or to specified portions thereof, and the sections in which they appear are:

   Acceptance. Section 4-2-606.

   Banker's credit. Section 4-2-325.

   Between merchants. Section 4-2-104.

   Cancellation. Section 4-2-106 (4).

   Commercial unit. Section 4-2-105.

   Confirmed credit. Section 4-2-325.

   Conforming to contract. Section 4-2-106.

   Contract for sale. Section 4-2-106.

   Cover. Section 4-2-712.

   Entrusting. Section 4-2-403.

   Financing agency. Section 4-2-104.

   Future goods. Section 4-2-105.

   Goods. Section 4-2-105.

   Identification. Section 4-2-501.

   Installment contract. Section 4-2-612.

   Letter of credit. Section 4-2-325.

   Lot. Section 4-2-105.

   Merchant. Section 4-2-104.

   Overseas. Section 4-2-323.

   Person in position of seller. Section 4-2-707.

   Present sale. Section 4-2-106.

   Sale. Section 4-2-106.

   Sale on approval. Section 4-2-326.

   Sale or return. Section 4-2-326.

   Termination. Section 4-2-106.

3. (3) Control as provided in section 4-7-106 and the following definitions in other articles apply to this article:

   Check. Section 4-3-104.

   Consignee. Section 4-7-102.

   Consignor. Section 4-7-102.

   Consumer goods. Section 4-9-102.

   Dishonor. Section 4-3-502.

   Draft. Section 4-3-104.

4. (4) In addition, article 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this article.

Source: L. 65: p. 1298, § 1. C.R.S. 1963: § 155-2-103. L. 99: (3) amended, p. 616, § 2, effective August 4. L. 2001: (3) amended, p. 1436, § 18, effective July 1. L. 2006: (3) amended, p. 490, § 3, effective September 1. L. 2007: (3) amended, p. 374, § 27, effective August 3.

Cross references: For the delegation of performance and assignment of rights, see § 4-2-210.