§ 41-02-04 — (2-104) Between merchants, financing agency, and merchant defined

North Dakota § 41-02-04

• Jurisdiction: North Dakota
• Title 41: Uniform Commercial Code
• Ch. 41-02: Sales

Text

1. "Between merchants" means in any transaction with respect to which both parties are
chargeable with the knowledge or skill of merchants.
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 (section 41-02-86).
3. "Merchant" means a person who deals in goods of the kind or otherwise by the
person's occupation holds 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 the person's employment of an agent or broker or other intermediary who by the
employed person's occupation holds out as having such knowledge or skill.