Iowa Code 554.2103 – Definitions and index of definitions
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Terms Used In Iowa Code 554.2103
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
554.2103 Definitions and index of definitions.
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.
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:
a. “”Acceptance”” ………………………………. § 554.2606
b. “”Banker’s credit”” ………………………… § 554.2325
c. “”Between merchants”” ………………….. § 554.2104
d. “”Cancellation”” …………………………….. § 554.2106(4)
e. “”Commercial unit”” ………………………. § 554.2105 f. “”Confirmed credit””……………………….. § 554.2325 g. “”Conforming to contract””…………….. § 554.2106 h. “”Contract for sale”” ………………………. § 554.2106 i. “”Cover”” ……………………………………….. § 554.2712 j. “”Entrusting””…………………………………. § 554.2403 k. “”Financing agency”” …………………….. § 554.2104 l. “”Future goods”” …………………………….. § 554.2105 m. “”Goods”” …………………………………….. § 554.2105 n. “”Identification”” ……………………………. § 554.2501 o. “”Installment contract”” …………………. § 554.2612 p. “”Letter of credit”” …………………………. § 554.2325 q. “”Lot””…………………………………………… § 554.2105 r. “”Merchant”” ………………………………….. § 554.2104 s. “”Overseas”” ………………………………….. § 554.2323 t. “”Person in position of seller”” ………… § 554.2707 u. “”Present sale””……………………………… § 554.2106 v. “”Sale””………………………………………….. § 554.2106 w. “”Sale on approval”” ……………………… § 554.2326 x. “”Sale or return”” …………………………… § 554.2326 y. “”Termination”” ……………………………… § 554.2106
3. The following definitions in other Articles apply to this Article:
a. “”Check””………………………………………. § 554.3104 b. “”Consignee””………………………………… § 554.7102 c. “”Consignor””………………………………… § 554.7102 d. “”Consumer goods””………………………. § 554.9102 e. “”Control””…………………………………….. § 554.7106 f. “”Dishonor””…………………………………… § 554.3502 g. “”Draft”” ……………………………………….. § 554.3104
4. In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
[C24, 27, 31, 35, 39, §10005; C46, 50, 54, 58, 62, §554.77; C66, 71, 73, 75, 77, 79, 81,
§554.2103]
94 Acts, ch 1167, §8, 122; 2000 Acts, ch 1149, §140, 187; 2007 Acts, ch 30, §45, 46, 48; 2007
Acts, ch 41, §23; 2012 Acts, ch 1023, §144, 157
Referred to in §554.7102, 554.13103
Section not amended; editorial change applied
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.
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:
a. “”Acceptance”” ………………………………. § 554.2606
b. “”Banker’s credit”” ………………………… § 554.2325
c. “”Between merchants”” ………………….. § 554.2104
d. “”Cancellation”” …………………………….. § 554.2106(4)
e. “”Commercial unit”” ………………………. § 554.2105 f. “”Confirmed credit””……………………….. § 554.2325 g. “”Conforming to contract””…………….. § 554.2106 h. “”Contract for sale”” ………………………. § 554.2106 i. “”Cover”” ……………………………………….. § 554.2712 j. “”Entrusting””…………………………………. § 554.2403 k. “”Financing agency”” …………………….. § 554.2104 l. “”Future goods”” …………………………….. § 554.2105 m. “”Goods”” …………………………………….. § 554.2105 n. “”Identification”” ……………………………. § 554.2501 o. “”Installment contract”” …………………. § 554.2612 p. “”Letter of credit”” …………………………. § 554.2325 q. “”Lot””…………………………………………… § 554.2105 r. “”Merchant”” ………………………………….. § 554.2104 s. “”Overseas”” ………………………………….. § 554.2323 t. “”Person in position of seller”” ………… § 554.2707 u. “”Present sale””……………………………… § 554.2106 v. “”Sale””………………………………………….. § 554.2106 w. “”Sale on approval”” ……………………… § 554.2326 x. “”Sale or return”” …………………………… § 554.2326 y. “”Termination”” ……………………………… § 554.2106
3. The following definitions in other Articles apply to this Article:
a. “”Check””………………………………………. § 554.3104 b. “”Consignee””………………………………… § 554.7102 c. “”Consignor””………………………………… § 554.7102 d. “”Consumer goods””………………………. § 554.9102 e. “”Control””…………………………………….. § 554.7106 f. “”Dishonor””…………………………………… § 554.3502 g. “”Draft”” ……………………………………….. § 554.3104
4. In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
[C24, 27, 31, 35, 39, §10005; C46, 50, 54, 58, 62, §554.77; C66, 71, 73, 75, 77, 79, 81,
§554.2103]
94 Acts, ch 1167, §8, 122; 2000 Acts, ch 1149, §140, 187; 2007 Acts, ch 30, §45, 46, 48; 2007
Acts, ch 41, §23; 2012 Acts, ch 1023, §144, 157
Referred to in §554.7102, 554.13103
Section not amended; editorial change applied