New Mexico § 55-2-103 Definitions and index of definitions

New Mexico Statutes

§ 55-2-103 — Definitions and index of definitions

New Mexico § 55-2-103

Ch. 55Uniform Commercial Code

Art. 2Sales

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Bluebook

N.M. Stat. Ann. § 55-2-103 (2026).

Text

(1)In this article, unless the context otherwise requires:

(a)"buyer" means a person who buys or contracts to buy goods;

(b)[reserved];

(c)"receipt" of goods means taking physical possession of them; and (d) "seller" means a person who sells or contracts to sell goods.

(2)Other definitions applying to this article, or to specified parts thereof, and the sections in which they appear are: "acceptance" Section 55-2-606 NMSA 1978; "banker's credit" Section 55-2-325 NMSA 1978; "between merchants" Section 55-2-104 NMSA 1978; "cancellation" Section 55-2-106 NMSA 1978; "commercial unit" Section 55-2-105 NMSA 1978; "confirmed credit" Section 55-2-325 NMSA 1978; "conforming to contract" Section 55-2-106 NMSA 1978; "contract for sale" Section 55-2-106 NMSA 1978; "cover" Section 55-2-712 NMSA 19

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(1) In this article, unless the context otherwise requires: (a) "buyer" means a person who buys or contracts to buy goods; (b) [reserved]; (c) "receipt" of goods means taking physical possession of them; and (d) "seller" means a person who sells or contracts to sell goods. (2) Other definitions applying to this article, or to specified parts thereof, and the sections in which they appear are: "acceptance" Section 55-2-606 NMSA 1978; "banker's credit" Section 55-2-325 NMSA 1978; "between merchants" Section 55-2-104 NMSA 1978; "cancellation" Section 55-2-106 NMSA 1978; "commercial unit" Section 55-2-105 NMSA 1978; "confirmed credit" Section 55-2-325 NMSA 1978; "conforming to contract" Section 55-2-106 NMSA 1978; "contract for sale" Section 55-2-106 NMSA 1978; "cover" Section 55-2-712 NMSA 1978; "entrusting" Section 55-2-403 NMSA 1978; "financing agency" Section 55-2-104 NMSA 1978; "future goods" Section 55-2-105 NMSA 1978; "goods" Section 55-2-105 NMSA 1978; "identification" Section 55-2-501 NMSA 1978; "installment contract" Section 55-2-612 NMSA 1978; "letter of credit" Section 55-2-325 NMSA 1978; "lot" Section 55-2-105 NMSA 1978; "merchant" Section 55-2-104 NMSA 1978; "overseas" Section 55-2-323 NMSA 1978; "person in the position of a seller" Section 55-2-707 NMSA 1978; "present sale" Section 55-2-106 NMSA 1978; "sale" Section 55-2-106 NMSA 1978; "sale on approval" Section 55-2-326 NMSA 1978; "sale or return" Section 55-2-326 NMSA 1978; and "termination" Section 55-2-106 NMSA 1978. (3) "Control", as provided in Section 55-7-106 NMSA 1978, and the following definitions in other articles apply to this article: "check". Section 55-3-104 NMSA 1978; "consignee". Section 55-7-102 NMSA 1978; "consignor". Section 55-7-102 NMSA 1978; "consumer goods". Section 55-9-102 NMSA 1978; "dishonor". Section 55-3-502 NMSA 1978; and "draft". Section 55-3-104 NMSA 1978. (4) In addition, Chapter 55, Article 1 NMSA 1978 contains general definitions and principles of construction and interpretation applicable throughout this article.