{"data":{"id":"us-ky/krs-355.2-106","jurisdiction":"us-ky","citation":"KRS 355.2-106","heading":"Definitions -- \"Contract\" -- \"Agreement\" -- \"Contract for sale\" --","body":"\"Sale\" -- \"Present sale\" -- \"Conforming\" to contract -- \"Termination\" --\n\"Cancellation\" -- \"Hybrid transaction.\"\n(1) In this article, unless the context otherwise requires:\n(a) \"Contract\" and \"agreement\" are limited to those relating to the present or\nfuture sale of goods;\n(b) \"Contract for sale\" includes both a present sale of goods and a contract to sell\ngoods at a future time;\n(c) A \"sale\" consists in the passing of title from the seller to the buyer for a price\n(KRS 355.2-401); and\n(d) A \"present sale\" means a sale which is accomplished by the making of the\ncontract.\n(2) Goods or conduct, including any part of a performance, are \"conforming\" or\nconform to the contract when they are in accordance with the obligations under the\ncontract.\n(3) (a) \"Termination\" occurs when either party, pursuant to a power created by\nagreement or law, puts an end to the contract otherwise than for its breach.\n(b) On \"termination,\" all obl igations which are still executory on both sides are\ndischarged, but any right based on prior breach or performance survives.\n(4) \"Cancellation\" occurs when either party puts an end to the contract for breach by\nthe other and its effect is the same as that of \"termination,\" except that the canceling\nparty also retains any remedy for breach of the whole contract or any unperformed\nbalance.\n(5) \"Hybrid transaction\" means a single transaction involving a sale of goods and:\n(a) The provision of services;\n(b) A lease of other goods; or\n(c) A sale, lease, or license of property other than goods.","path":[],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=55630","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:58:41Z","sha256":"ce7188bdb5f5a7637ca37ec19b31f3bf9852098f5aaf71a6c88dd6dd13fac170","source_id":"us-ky","stale":false,"prev":"us-ky/krs-355.2-105","next":"us-ky/krs-355.2-107"},"notice":"GroundRules: Original legal text. Not legal advice."}