Tennessee § 47-2-103 - Definitions and index of definitions.

§ 47-2-103. Definitions and index of definitions.

In this chapter unless the context otherwise requires: “Buyer” means a person who buys or contracts to buy goods. “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. “Receipt” of goods means taking physical possession of them. “Seller” means a person who sells or contracts to sell goods. “Acceptance.” § 47-2-606 . “Banker's credit.” § 47-2-325 . “Between merchants.” § 47-2-104 . “Cancellation.” § 47-2-106(4) . “Commercial unit.” § 47-2-105 . “Confirmed credit.” § 47-2-325 . “Conforming to contract.” § 47-2-106 . “Contract for sale.” § 47-2-106 . “Cover.” § 47-2-712 . “Entrusting.” § 47-2-403 . “Financing agency.” § 47-2-104 . “Future goods.” § 47-2-105 . “Goods.” § 47-2-105 . “Identification.” § 47-2-501 . “Installment contract.” § 47-2-612 . “Letter of credit.” § 47-2-325 . “Lot.” § 47-2-105 . “Merchant.” § 47-2-104 . “Overseas.” § 47-2-323 . “Person in position of seller.” § 47-2-707 . “Present sale.” § 47-2-106 . “Sale.” § 47-2-106 . “Sale on approval.” § 47-2-326 . “Sale or return.” § 47-2-326 . “Termination.” § 47-2-106 . “Check.” § 47-3-104 . “Consignee.” § 47-7-102 . “Consignor.” § 47-7-102 . “Consumer goods.” § 47-9-102 . “Dishonor.” § 47-3-502 . “Draft.” § 47-3-104 . Other definitions applying to this chapter or to specified parts thereof, and the sections in which they appear are: “Control” as provided in § 47-7-106 and the following definitions in other chapters apply to this chapter: In addition chapter 1 of this title contains general definitions and principles of construction and interpretation applicable throughout this chapter. Acts 1963, ch. 81, § 1 (2-103); Acts 2000, ch. 846, § 4; 2008, ch. 814, § 3. Amendments. The 2008 amendment added “‘Control’ as provided in § 47-7-106 and” to the beginning of (3). Effective Dates. Acts 2008, ch. 814, § 40. July 1, 2008. Prior Tennessee Law: § 47-1276. Textbooks. Tennessee Jurisprudence, 6 Tenn. Juris., Commercial Law, §§ 3, 10-22. Law Reviews. 1985 Tennessee Survey: Selected Developments in Tennessee Law, 53 Tenn. L. Rev. 415 (1986). Cited: Misco, Inc. v. United States Steel Corp., 784 F.2d 198, 1986 U.S. App. LEXIS 22403 (6th Cir. Tenn. 1986); Patton v. McHone, 822 S.W.2d 608, 1991 Tenn. App. LEXIS 564 (Tenn. Ct. App. 1991); Watts v. Mercedes-Benz United States, 254 S.W.3d 422, 2007 Tenn. App. LEXIS 580 (Tenn. Ct. App. Sept. 17, 2007); In re Music City RV, LLC, 304 S.W.3d 806, 2010 Tenn. LEXIS 86 (Tenn. Feb. 12, 2010).