(a) In this chapter, unless the context otherwise requires,


(1) "buyer" means a person who buys or contracts to buy goods;


(2) [Repealed, Sec. 113 ch 44 SLA 2009, effective January 1, 2010].


(3) "receipt" of goods means taking physical possession of them;


(4) "seller" means a person who sells or contracts to sell goods.


(b) Other definitions applying to this chapter and the sections in which they appear are


(1) "acceptance" (AS 45.02.606
);


(2) "banker's credit" (AS 45.02.325
);


(3) "between merchants" (AS 45.02.104
);


(4) "cancellation" (AS 45.02.106
(d));


(5) "commercial unit" (AS 45.02.105
);


(6) "confirmed credit" (AS 45.02.325
);


(7) "conforming to contract" (AS 45.02.106
);


(8) "contract for sale" (AS 45.02.106
);


(9) "cover" (AS 45.02.712
);


(10) "entrusting" (AS 45.02.403
);


(11) "financing agency" (AS 45.02.104
);


(12) "future goods" (AS 45.02.105
);


(13) "goods" (AS 45.02.105
);


(14) "identification" (AS 45.02.501
);


(15) "installment contract" (AS 45.02.612
);


(16) "letter of credit" (AS 45.02.325
);


(17) "lot" (AS 45.02.105
);


(18) "merchant" (AS 45.02.104
);


(19) "overseas" (AS 45.02.323
);


(20) "person in position of seller" (AS 45.02.707
);


(21) "present sale" (AS 45.02.106
);


(22) "sale" (AS 45.02.106
);


(23) "sale or return" (AS 45.02.326
);


(24) "termination" (AS 45.02.106
).


(c) The following definitions in other chapters apply to this chapter:


(1) "check" (AS 45.03.104
);


(2) "consignee" (AS 45.07.112
);


(3) "consignor" (AS 45.07.112
);


(4) "consumer goods" (AS 45.29.102
);


(5) "control" (AS 45.07.116
);


(6) "dishonor" (AS 45.03.502
);


(7) "draft" (AS 45.03.104
).


(d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.