Wisconsin Statutes 402.103 – Definitions and index of definitions

Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01

(1) In this chapter 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.

(d) “Seller” means a person who sells or contracts to sell goods.

(2) Other definitions applying to this chapter or to specified sections thereof, and the sections in which they appear are:

(a) “Acceptance” – s. 402.606.

(b) “Banker’s credit” – s. 402.325.

(d) “Cancellation” – s. 402.106 (1).

(e) “Commercial unit” – s. 402.105.

(f) “Confirmed credit” – s. 402.325.

(g) “Conforming to contract” – s. 402.106.

(h) “Contract for sale” – s. 402.106.

(i) “Cover” – s. 402.712.

(j) “Entrusting” – s. 402.403.

(k) “Financing agency” – s. 402.104.

(L) “Future goods” – s. 402.105.

(m) “Goods” – s. 402.105.

(n) “Identification” – s. 402.501.

(o) “Installment contract” – s. 402.612.

(p) “Letter of credit” – s. 402.325.

(q) “Lot” – s. 402.105.

(r) “Merchant” – s. 402.104.

(s) “Overseas” – s. 402.323.

(t) “Person in position of seller” – s. 402.707.

(u) “Present sale” – s. 402.106.

(v) “Sale” – s. 402.106.

(w) “Sale on approval” – s. 402.326.

(x) “Sale or return” – s. 402.326.

(y) “Termination” – s. 402.106.

(3) The following definitions in other chapters apply to this chapter:

(a) “Check” – s. 403.104.

(b) “Consignee” – s. 407.102.

(d) “Consumer goods” – s. 409.102.

(dm) “Control” – s. 407.106.

(e) “Dishonor” – s. 403.502.

(f) “Draft” – s. 403.104.

(4) In addition ch. 401 contains general definitions and principles of construction and interpretation applicable throughout this chapter.