Section 45.02.103. Definitions and index of definitions.

   (a) In this chapter, unless the context otherwise requires,
        (1) "buyer" means a person who buys or contracts to buy goods;
        (2)  [Repealed, Sec. 113 ch 44 SLA 2009]. 
        (3) "receipt" of goods means taking physical possession of them;
        (4) "seller" means a person who sells or contracts to sell goods.
   (b) Other definitions applying to this chapter and the sections in which they appear are
        (1) "acceptance" (AS 45.02.606);
        (2) "banker's credit" (AS 45.02.325);
        (3) "between merchants" (AS 45.02.104);
        (4) "cancellation" (AS 45.02.106(d));
        (5) "commercial unit" (AS 45.02.105);
        (6) "confirmed credit" (AS 45.02.325);
        (7) "conforming to contract" (AS 45.02.106);
        (8) "contract for sale" (AS 45.02.106);
        (9) "cover" (AS 45.02.712);
        (10) "entrusting" (AS 45.02.403);
        (11) "financing agency" (AS 45.02.104);
        (12) "future goods" (AS 45.02.105);
        (13) "goods" (AS 45.02.105);
        (14) "identification" (AS 45.02.501);
        (15) "installment contract" (AS 45.02.612);
        (16) "letter of credit" (AS 45.02.325);
        (17) "lot" (AS 45.02.105);
        (18) "merchant" (AS 45.02.104);
        (19) "overseas" (AS 45.02.323);
        (20) "person in position of seller" (AS 45.02.707);
        (21) "present sale" (AS 45.02.106);
        (22) "sale" (AS 45.02.106);
        (23) "sale or return" (AS 45.02.326);
        (24) "termination" (AS 45.02.106).
   (c) The following definitions in other chapters apply to this chapter:
        (1) "check" (AS 45.03.104);
        (2) "consignee" (AS 45.07.112);
        (3) "consignor" (AS 45.07.112);
        (4) "consumer goods" (AS 45.29.102);
        (5) "control" (AS 45.07.116);
        (6) "dishonor" (AS 45.03.502);
        (7) "draft" (AS 45.03.104).
   (d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

Authorities

45.07.112;45.12.103

Notes

References

AS 45.07.112 Definitions and index of definitions.
AS 45.12.103 Definitions and index of definitions.

History

(Sec. 2.103 ch 114 SLA 1962; am Sec. 11 ch 35 SLA 1993; am Sec. 7 ch 113 SLA 2000; am Sec. 10 - 12, 113 ch 44 SLA 2009)