400.2-104. Definitions--"merchant"--"between merchants"--"financing agency". - Missouri Statutes

Definitions--"merchant"--"between merchants"--"financing agency".

400.2-104. (1) "Merchant" means a person who deals in goodsof the kind or otherwise by his occupation holds himself out ashaving knowledge or skill peculiar to the practices or goodsinvolved in the transaction or to whom such knowledge or skillmay be attributed by his employment of an agent or broker orother intermediary who by his occupation holds himself out ashaving such knowledge or skill.

(2) "Financing agency" means a bank, finance company orother person who in the ordinary course of business makesadvances against goods or documents of title or who byarrangement with either the seller or the buyer intervenes inordinary course to make or collect payment due or claimed underthe contract for sale, as by purchasing or paying the seller'sdraft or making advances against it or by merely taking it forcollection whether or not documents of title accompany the draft."Financing agency" includes also a bank or other person whosimilarly intervenes between persons who are in the position ofseller and buyer in respect to the goods (section 400.2-707).

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

(L. 1963 p. 503 § 2-104)

(1977) A farmer is not necessarily a merchant but if a prior course of dealings indicates familiarity with business practices it may be sufficient to establish his status as a "merchant". Rush Johnson Farms, Inc. v. Mo. Farmers Association (A.), 555 S.W.2d 61.