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§ 2104. Definitions: "merchant"; "between merchants";
"financing agency."
The following words and phrases when used in this division
shall have the meanings given to them in this section:
"Between merchants." Between merchants means in any
transaction with respect to which both parties are chargeable
with the knowledge or skill of merchants.
"Financing agency." A bank, finance company, or other person
who in the ordinary course of business makes advances against
goods or documents of title or who by arrangement with either
the seller or the buyer intervenes in ordinary course to make or
collect payment due or claimed under the contract for sale, as
by purchasing or paying the draft of the seller or making
advances against it or by merely taking it for collection
whether or not documents of title accompany the draft.
"Financing agency" includes also a bank or other person who
similarly intervenes between persons who are in the position of
seller and buyer in respect to the goods (see section 2707).
"Merchant." A person who:
(1) deals in goods of the kind; or
(2) otherwise by his occupation holds himself out as
having knowledge or skill peculiar to the practices or goods
involved in the transaction or to whom such knowledge or
skill may be attributed by his employment of an agent or
broker or other intermediary who by his occupation holds
himself out as having such knowledge or skill.
(June 8, 2001, P.L.123, No.18, eff. July 1, 2001)
Cross References. Section 2104 is referred to in sections
2103, 2A103, 9102 of this title.
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Last modified: November 27, 2007 |