§ 26-1-2-104 — "Merchant"; "between merchants"; "financing agency"

Indiana § 26-1-2-104

• Jurisdiction: Indiana
• Title 26: COMMERCIAL LAW
• Art. 1: UNIFORM COMMERCIAL CODE
• Ch. 2: Sales

Text

(1) "Merchant" means a person who deals
in goods of the kind or otherwise by his occupation holds himself out
as having knowledge or skill peculiar to the practices or goods involved
in the transaction or to whom such knowledge or skill may be attributed
by his employment of an agent or broker or other intermediary who by
his occupation holds himself out as having such knowledge or skill.
(2) "Financing agency" means a bank, finance company, or other
person who in the ordinary course of business makes advances against
goods or documents of title or who by arrangement with either the
seller or the buyer intervenes in ordinary course to make or collect
payment due or claimed under the contract for sale, as by purchasing
or paying the seller's draft or making advances against it or by merely
taking it for collection whether or not documents of title accompany or
are associated with the draft. "Financing agency" includes also a bank
or other person who similarly intervenes between persons who are in
the position of seller and buyer in respect to the goods (IC 26-1-2-707).
(3) "Between merchants" means in any transaction with respect to
which both parties are chargeable with the knowledge or skill of
merchants.
Formerly: Acts 1963, c.317, s.2-104. As amended by
P.L.152-1986, SEC.122; P.L.143-2007, SEC.8.