{"data":{"id":"us-nj/n.j.-stat.-12a-2-103","jurisdiction":"us-nj","citation":"N.J. Stat. § 12A:2-103","heading":"Definitions and index of definitions.","body":"Definitions and index of definitions.\n(1)\tIn this chapter unless the context otherwise requires:\n(a)\t\"Buyer\" means a person who buys or contracts to buy goods.\n(b)\t\"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.\n(c)\t\"Receipt\" of goods means taking physical possession of them.\n(d)\t\"Seller\" means a person who sells or contracts to sell goods.\n(2)\tOther definitions applying to this Chapter or to specified Subchapters thereof, and the sections in which they appear are:\n\"Acceptance\"\t\t\t12A:2-606.\n\"Banker's credit\"\t\t\t12A:2-325.\n\"Between merchants\"\t\t12A:2-104.\n\"Cancellation\"\t\t\t12A:2-106(4).\n\"Commercial unit\"\t\t12A:2-105.\n\"Confirmed credit\"\t\t12A:2-325.\n\"Conforming to contract\"\t\t12A:2-106.\n\"Contract for sale\"\t\t\t12A:2-106.\n\"Cover\"\t\t\t\t12A:2-712.\n\"Entrusting\"\t\t\t12A:2-403.\n\"Financing agency\"\t\t12A:2-104.\n\"Future goods\"\t\t\t12A:2-105.\n\"Goods\"\t\t\t\t12A:2-105.\n\"Identification\"\t\t\t12A:2-501.\n\"Installment contract\"\t\t12A:2-612.\n\"Letter of Credit\"\t\t\t12A:2-325.\n\"Lot\"\t\t\t\t12A:2-105.\n\"Merchant\"\t\t\t12A:2-104.\n\"Overseas\"\t\t\t\t12A:2-323.\n\"Person in position of seller\"\t12A:2-707.\n\"Present sale\"\t\t\t12A:2-106.\n\"Sale\"\t\t\t\t12A:2-106.\n\"Sale on approval\"\t\t12A:2-326.\n\"Sale or return\"\t\t12A:2-326.\n\"Termination\"\t\t\t12A:2-106.\n(3)\tThe following definitions in other Chapters apply to this Chapter:\n\"Check\"\t\t\t12A:3-104.\n\"Consignee\"\t\t\t12A:7-102.\n\"Consignor\"\t\t\t12A:7-102.\n\"Consumer goods\"\t\t12A:9-102.\n\"Control\" \t\t\t\t12A:7-106.\n\"Dishonor\"\t\t\t\t12A:3-502.\n\"Draft\"\t\t\t\t12A:3-104.\n(4)\tIn addition Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this Chapter.\namended 1995, c.28, s.5; 2001, c.117, s.5; 2013, c.65, s.31.","path":["TITLE 12A COMMERCIAL TRANSACTIONS"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"067faf323559fc4024e2eeb20871ea6d2c401f03925f5d6ef9fe5c35be1a8f9a","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-12a-2-102","next":"us-nj/n.j.-stat.-12a-2-104"},"notice":"GroundRules: Original legal text. Not legal advice."}