Virginia Code 8.2-102: Scope; certain security and other transactions excluded from this title
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Unless the context otherwise requires, this title applies to transactions in goods; it does not apply to any transaction which although in the form of an unconditional contract to sell or present sale is intended to operate only as a security transaction nor does this title impair or repeal any statute regulating sales to consumers, farmers or other specified classes of buyers.
Terms Used In Virginia Code 8.2-102
- Contract: A legal written agreement that becomes binding when signed.
- present sale: means a sale which is accomplished by the making of the contract. See Virginia Code 8.2-106
- Statute: A law passed by a legislature.
1964, c. 219.