Find Laws Find Lawyers Free Legal Forms USA State Laws

ALABAMA STATUTES AND CODES

Section 7-2-104 Definitions: "Merchant"; "between merchants"; "financing agency."

Section 7-2-104

Definitions: "Merchant"; "between merchants"; "financing agency."

(1) "Merchant" means a person who deals in goods of the kind or 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.

(2) "Financing agency" means 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 seller's draft or making advances against it or by merely taking it for collection whether or not documents of title accompany or are associated with 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 (Section 7-2-707).

(3) "Between merchants" means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants.

(Acts 1965, No. 549, p. 811; Act 2004-315, p. 464, §2.)

Alabama Forms by Issue

Alabama Court Forms
> Claims
Alabama Divorce Forms
Alabama Environmental Forms
Alabama Marriage Forms
Alabama Name Change Forms
Alabama Other Forms
Alabama Retirement Forms
Alabama Tax Forms

Alabama Law

Alabama State Laws
    > Alabama Child Support
    > Alabama Gun Law
    > Alabama Statute
Alabama Tax
    > Alabama State Tax
Alabama Agencies
    > Alabama Department of Corrections
    > Alabama Department of Education
    > Alabama Department of Revenue
    > Alabama Department of Transportation
    > Alabama DMV
    > Alabama Medicaid
    > Alabama Secretary of State

Alabama Court Map

Tips