Terms Used In Maryland Code, COMMERCIAL LAW 2-103

  • Contract: A legal written agreement that becomes binding when signed.
  • Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
  • Seller: means a person who sells or contracts to sell goods. See
(1) In this title 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 title or to specified subtitles thereof, and the sections in which they appear are:

“Acceptance.” § 2-606.

“Banker’s credit.” § 2-325.

“Between merchants.” § 2-104.

“Cancellation.” § 2-106(4).

“Commercial unit.” § 2-105.

“Confirmed credit.” § 2-325.

“Conforming to contract.” § 2-106.

“Contract for sale.” § 2-106.

“Cover.” § 2-712.

“Entrusting.” § 2-403.

“Financing agency.” § 2-104.

“Future goods.” § 2-105.

“Goods.” § 2-105.

“Identification.” § 2-501.

“Installment contract.” § 2-612.

“Letter of credit.” § 2-325.

“Lot.” § 2-105.

“Merchant.” § 2-104.

“Overseas.” § 2-323.

“Person in position of seller.” § 2-707.

“Present sale.” § 2-106.

“Sale.” § 2-106.

“Sale on approval.” § 2-326.

“Sale or return.” § 2-326.

“Termination.” § 2-106.

(3) “Control” as provided in § 7-106 and the following definitions in other titles apply to this title:

“Check.” § 3-104.

“Consignee.” § 7-102.

“Consignor.” § 7-102.

“Consumer goods.” § 9-102.

“Dishonor.” § 3-502.

“Draft.” § 3-104.

(4) In addition Title 1 contains general definitions and principles of construction and interpretation applicable throughout this title.