Code of Virginia

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Code of Virginia
Title 8.2. Commercial Code - Sales
Part 1. Short Title, General Construction and Subject Matter
12/1/2021

§ 8.2-103. Definitions and index of definitions.

(1) In this title unless the context otherwise requires:

(a) "Buyer" means a person who buys or contracts to buy goods.

(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.

(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 title or to specified parts thereof, and the sections in which they appear are:

"Acceptance."§ 8.2-606.

"Banker's credit."§ 8.2-325.

"Between merchants."§ 8.2-104.

"Cancellation."§ 8.2-106 (4).

"Commercial unit."§ 8.2-105.

"Confirmed credit."§ 8.2-325.

"Conforming to contract."§ 8.2-106.

"Contract for sale."§ 8.2-106.

"Cover."§ 8.2-712.

"Entrusting."§ 8.2-403.

"Financing agency."§ 8.2-104.

"Future goods."§ 8.2-105.

"Goods."§ 8.2-105.

"Identification."§ 8.2-501.

"Installment contract."§ 8.2-612.

"Letter of credit."§ 8.2-325.

"Lot."§ 8.2-105.

"Merchant."§ 8.2-104.

"Overseas."§ 8.2-323.

"Person in position of seller."§ 8.2-707.

"Present sale."§ 8.2-106.

"Sale."§ 8.2-106.

"Sale on approval."§ 8.2-326.

"Sale or return."§ 8.2-326.

"Termination."§ 8.2-106.

(3) The following definitions in other titles apply to this title:

"Check."§ 8.3A-104.

"Consignee."§ 8.7-102.

"Consignor."§ 8.7-102.

"Consumer goods."§ 8.9A-102.

"Control."§ 8.7-106.

"Dishonor."§ 8.3A-502.

"Draft."§ 8.3A-104.

(4) In addition Title 8.1A contains general definitions and principles of construction and interpretation applicable throughout this title.

1964, c. 219; 2000, c. 1007; 2003, c. 353; 2004, c. 200.

The chapters of the acts of assembly referenced in the historical citation at the end of this section may not constitute a comprehensive list of such chapters and may exclude chapters whose provisions have expired.