{"data":{"id":"us-wi/wis.-stat.-402.103","jurisdiction":"us-wi","citation":"Wis. Stat. § 402.103","heading":"Definitions and index of definitions.","body":"(1) In this chapter unless the context otherwise requires:\n(a) “Buyer” means a person who buys or contracts to buy goods.\n(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.\n(c) “Receipt” of goods means taking physical possession of them.\n(d) “Seller” means a person who sells or contracts to sell goods.\n(2) Other definitions applying to this chapter or to specified sections thereof, and the sections in which they appear are:\n(a) “Acceptance” — s. 402.606.\n(b) “Banker’s credit” — s. 402.325.\n(c) “Between merchants” — s. 402.104.\n(d) “Cancellation” — s. 402.106 (1).\n(e) “Commercial unit” — s. 402.105.\n(f) “Confirmed credit” — s. 402.325.\n(g) “Conforming to contract” — s. 402.106.\n(h) “Contract for sale” — s. 402.106.\n(i) “Cover” — s. 402.712.\n(j) “Entrusting” — s. 402.403.\n(k) “Financing agency” — s. 402.104.\n(L) “Future goods” — s. 402.105.\n(m) “Goods” — s. 402.105.\n(n) “Identification” — s. 402.501.\n(o) “Installment contract” — s. 402.612.\n(p) “Letter of credit” — s. 402.325.\n(q) “Lot” — s. 402.105.\n(r) “Merchant” — s. 402.104.\n(s) “Overseas” — s. 402.323.\n(t) “Person in position of seller” — s. 402.707.\n(u) “Present sale” — s. 402.106.\n(v) “Sale” — s. 402.106.\n(w) “Sale on approval” — s. 402.326.\n(x) “Sale or return” — s. 402.326.\n(y) “Termination” — s. 402.106.\n(3) The following definitions in other chapters apply to this chapter:\n(a) “Check” — s. 403.104.\n(b) “Consignee” — s. 407.102.\n(c) “Consignor” — s. 407.102.\n(d) “Consumer goods” — s. 409.102.\n(dm) “Control” — s. 407.106.\n(e) “Dishonor” — s. 403.502.\n(f) “Draft” — s. 403.104.\n(4) In addition ch. 401 contains general definitions and principles of construction and interpretation applicable throughout this chapter.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 402 Uniform Commercial Code — Sales","SUBCHAPTER I SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/402.103","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:21Z","sha256":"9f4249230e8d3e0c72893a5b512204c4d2f227bd980665f5aa7ec6993d34516b","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-402.102","next":"us-wi/wis.-stat.-402.104"},"notice":"GroundRules: Original legal text. Not legal advice."}