§ 25-2-104. Definitions: "Merchant"; "between merchants"; "financing agency." - North Carolina Statutes

§ 25‑2‑104. Definitions: "Merchant"; "between merchants";"financing agency."

(1)        "Merchant"means a person who deals in goods of the kind or otherwise by his occupationholds himself out as having knowledge or skill peculiar to the practices orgoods involved in the transaction or to whom such knowledge or skill may beattributed by his employment of an agent or broker or other intermediary who byhis occupation holds himself out as having such knowledge or skill.

(2)        "Financingagency" means a bank, finance company or other person who in the ordinarycourse of business makes advances against goods or documents of title or who byarrangement with either the seller or the buyer intervenes in ordinary courseto make or collect payment due or claimed under the contract for sale, as bypurchasing or paying the seller's draft or making advances against it or bymerely taking it for collection whether or not documents of title accompany orare associated with the draft. "Financing agency" includes also abank or other person who similarly intervenes between persons who are in theposition of seller and buyer in respect to the goods (G.S. 25‑2‑707).

(3)        "Betweenmerchants" means in any transaction with respect to which both parties arechargeable with the knowledge or skill of merchants. (1965, c. 700, s. 1; 2006‑112,s. 28.)