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 parts thereof, and the sections in which they appear are:

   "Acceptance". Section 2-606 of this title.

   "Banker's credit". Section 2-325 of this title.

   "Between merchants". Section 2-104 of this title.

   "Cancellation". Section 2-106 (4) of this title.

   "Commercial unit". Section 2-105 of this title.

   "Confirmed credit". Section 2-325 of this title.

   "Conforming to contract". Section 2-106 of this title.

   "Contract for sale". Section 2-106 of this title.

   "Cover". Section 2-712 of this title.

   "Entrusting". Section 2-403 of this title.

   "Financing agency". Section 2-104 of this title.

   "Future goods". Section 2-105 of this title.

   "Goods". Section 2-105 of this title.

   "Identification". Section 2-501 of this title.

   "Installment contract". Section 2-612 of this title.

   "Letter of credit". Section 2-325 of this title.

   "Lot". Section 2-105 of this title.

   "Merchant". Section 2-104 of this title.

   "Overseas". Section 2-323 of this title.

   "Person in position of seller". Section 2-707 of this title.

   "Present sale". Section 2-106 of this title.

   "Sale". Section 2-106 of this title.

   "Sale on approval". Section 2-326 of this title.

   "Sale or return". Section 2-326 of this title.

   "Termination". Section 2-106 of this title.

3. (3) The following definitions in other articles apply to this article:

   "Check". Section 3-104 of this title.

   "Consignee". Section 7-102 of this title.

   "Consignor". Section 7-102 of this title.

   "Consumer goods". Section 9-102 of this title.

   "Dishonor". Section 3-502 of this title.

   "Draft". Section 3-104 of this title.

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

Laws 1961, SB 36, p. 74, § 2-103; Amended by Laws 1994, c. 46, § 2, eff. September 1, 1994; Amended by Laws 2000, SB 1519, c. 371, § 148, eff. July 1, 2001 (superseded document available ).

Uniform Commercial Code Comment

The Uniform Commercial Code was developed by The American Law Institute and the National Conference of Commissioners on Uniform State Laws. These organizations hold the copyright on the official comments to the Uniform Commercial Code. The Oklahoma Supreme Court attempted but was unable to obtain permission to reproduce the Official Comments here. For more information on these organizations, click on the links above. To email your comments, click on one of the links below.

The American Law Institute
4025 Chestnut Street
Philadelphia, PA 19104
Phone: (215) 243-1600
FAX: (215) 243-1664
Email

National Conference of Commissioners on Uniform State Laws
676 N. St. Clair Street, Suite 1700
Chicago, Illinois 60611
(312) 915-0195
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