§2-104. Definitions: "merchant"; "between merchants"; "financing agency"

Link to law: http://legislature.vermont.gov/statutes/section/09A/002/00104
Published: 2015

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The Vermont Statutes Online



Title

09A

:
Uniform Commercial Code






Chapter

002

:
Sales











 

§

2-104. Definitions: "merchant"; "between merchants";

"financing agency"

(1)

"Merchant" means a person who deals in goods of the kind or otherwise

by his or her occupation holds himself or herself 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 or her employment of an agent

or broker or other intermediary who by his or her occupation holds himself or

herself 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 (§ 2-707).

(3)

"Between merchants" means in any transaction with respect to which

both parties are chargeable with the knowledge or skill of merchants. (Amended

2015, No. 51, § B.5, eff. June 3, 2015.)
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