New Jersey Statutes
§ 12A:2-103 — Definitions and index of definitions.
New Jersey·Title 12A COMMERCIAL TRANSACTIONS
12A:2-103. Definitions and index of definitions.
(1)In this chapter unless the context otherwise requires:
(a)"Buyer" means a person who buys or contracts to buy goods.
(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.
(c)"Receipt" of goods means taking physical possession of them.
(d)"Seller" means a person who sells or contracts to sell goods.
(2)Other definitions applying to this Chapter or to specified Subchapters thereof, and the sections in which they appear are: "Acceptance" 12A:2-606. "Banker's credit" 12A:2-325. "Between merchants" 12A:2-104. "Cancellation" 12A:2-106(4). "Commercial unit" 12A:2-105. "Confirmed credit" 12A:2-325. "Conforming to contract" 12A:2-106. "Contract for
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Nearby Sections
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§ 12A:2-101
Short title§ 12A:2-103
Definitions and index of definitions.§ 12A:2-107
Goods to be severed from realty: recording§ 12A:2-201
Formal requirements; statute of frauds§ 12A:2-203
Seals inoperative§ 12A:2-204
Formation in general§ 12A:2-205
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