Subdivision 1.Applicability.

In this section and section 629.366, the terms defined in this section have the meanings given them.

Subd. 2.Merchant.

Terms Used In Minnesota Statutes 629.365

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Minnesota Statutes 645.44
  • Personal property: All property that is not real property.

“Merchant” means a person who owns, possesses, or controls personal property with authority to sell it in the regular course of business at retail or wholesale.

Subd. 3.Person.

“Person” includes an individual, a partnership, corporation, or association.