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

   1. (a) “Buyer” means a person who buys or contracts to buy goods.
   2. (b) “Livestock” means equines, cattle, sheep, goats, llamas, alpacas and swine.
   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 chapter, and the sections in which they appear are:

   1. (a) “Acceptance,” as defined in ORS 72.6060.
   2. (b) “Banker’s credit,” as defined in ORS 72.3250.
   3. (c) “Between merchants,” as defined in ORS 72.1040.
   4. (d) “Cancellation,” as defined in ORS 72.1060 (4).
   5. (e) “Commercial unit,” as defined in ORS 72.1050.
   6. (f) “Confirmed credit,” as defined in ORS 72.3250.
   7. (g) “Conforming to contract,” as defined in ORS 72.1060.
   8. (h) “Contract for sale,” as defined in ORS 72.1060.
   9. (i) “Cover,” as defined in ORS 72.7120.
   10. (j) “Entrusting,” as defined in ORS 72.4030.
   11. (k) “Financing agency,” as defined in ORS 72.1040.
   12. (L) “Future goods,” as defined in ORS 72.1050.
   13. (m) “Goods,” as defined in ORS 72.1050.
   14. (n) “Hybrid transaction,” as defined in ORS 72.1060.
   15. (o) “Identification,” as defined in ORS 72.5010.
   16. (p) “Installment contract,” as defined in ORS 72.6120.
   17. (q) “Letter of credit,” as defined in ORS 72.3250.
   18. (r) “Lot,” as defined in ORS 72.1050.
   19. (s) “Merchant,” as defined in ORS 72.1040.
   20. (t) “Overseas,” as defined in ORS 72.3230.
   21. (u) “Person in position of seller,” as defined in ORS 72.7070.
   22. (v) “Present sale,” as defined in ORS 72.1060.
   23. (w) “Sale,” as defined in ORS 72.1060.
   24. (x) “Sale on approval,” as defined in ORS 72.3260.
   25. (y) “Sale or return,” as defined in ORS 72.3260.
   26. (z) “Termination,” as defined in ORS 72.1060.

3. (3) “Control” as provided in ORS 77.1060 and the following definitions in other series of sections apply to this chapter:

   1. (a) “Check,” as defined in ORS 73.0104.
   2. (b) “Consignee,” as defined in ORS 77.1020.
   3. (c) “Consignor,” as defined in ORS 77.1020.
   4. (d) “Consumer goods,” as defined in ORS 79A.1020.
   5. (e) “Dishonor,” as defined in ORS 73.0502.
   6. (f) “Draft,” as defined in ORS 73.0104.
4. (4) In addition, ORS chapter 71 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

[1961 c.726 §72.1030; 1979 c.636 §1; 1993 c.545 §116; 1995 c.320 §1; 2001 c.445 §132; 2009 c.181 §24; 2025 c.33 §7]