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Illinois Compiled Statutes

810 ILCS 5/2-103 (2026)

Definitions and index of definitions

✓ current as of May 2026
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(810 ILCS 5/2-103) (from Ch. 26, par. 2-103)
    Sec. 2-103. Definitions and index of definitions.
    (1) In this Article unless the context otherwise requires
        (a) "Buyer" means a person who buys or contracts to
    
buy goods.
        (b) "Good faith" in the case of a merchant means
    
honesty in fact and the observance of reasonable commercial standards of fair dealing in the trade.
        (c) "Receipt" of goods means taking physical
    
possession of them.
        (d) "Seller" means a person who sells or contracts to
    
sell goods.
    (2) Other definitions applying to this Article or to specified Parts thereof, and the sections in which they appear are:
        "Acceptance". Section 2-606.
        "Banker's credit". Section 2-325.
        "Between merchants". Section 2-104.
        "Cancellation". Section 2-106(4).
        "Commercial unit". Section 2-105.
        "Confirmed credit". Section 2-325.
        "Conforming to contract". Section 2-106.
        "Contract for sale". Section 2-106.
        "Cover". Section 2-712.
        "Entrusting". Section 2-403.
        "Financing agency". Section 2-104.
        "Future goods". Section 2-105.
        "Goods". Section 2-105.
        "Identification". Section 2-501.
        "Installment contract". Section 2-612.
        "Letter of Credit". Section 2-325.
        "Lot". Section 2-105.
        "Merchant". Section 2-104.
        "Overseas". Section 2-323.
        "Person in position of seller". Section 2-707.
        "Present sale". Section 2-106.
        "Sale". Section 2-106.
        "Sale on approval". Section 2-326.
        "Sale or return". Section 2-326.
        "Termination". Section 2-106.
    (3) "Control" as provided in Section 7-106 and the following definitions in other Articles apply to this Article:
        "Check". Section 3-104.
        "Consignee". Section 7-102.
        "Consignor". Section 7-102.
        "Consumer goods". Section 9-102.
        "Dishonor". Section 3-502.
        "Draft". Section 3-104.
    (4) In addition Article 1 contains general definitions and principles of construction and interpretation applicable throughout this Article.
(Source: P.A. 95-895, eff. 1-1-09.)

    
Notes of Decisions
Cited in 6 cases (2 in the last 5 years), 1995–2025 · leading case: Baxter Healthcare Corp. v. O.R. Concepts, Inc., 69 F.3d 785 (7th Cir. 1995).
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Baxter Healthcare Corp. v. O.R. Concepts, Inc., 69 F.3d 785 (7th Cir. 1995). “Section 1-203 of the UCC provides that “[e]very contract or duty within this Act imposes an obligation of good faith in its performance or enforcement.”
Olympic Chevrolet, Inc. v. Gen. Motors Corp., 959 F. Supp. 918 (N.D. Ill. 1997). “1992); 810 ILCS 5/2-103 (good faith is honesty in fact).”
GFRB, LLC v. Worthy Promotional Prods., LLC (N.D. Ill. 2024). “29, 2021) (citing 810 ILCS 5/2-103(1)(d); 801 5/2-106(1)). Worthy does not substantively respond to GFRB’s argument that it was not a “seller” under the UCC.”
Reinbold v. Menard, Inc. (Bankr. C.D. Ill. 2025). “For example, UCC §2-103 corresponds to 810 ILCS 5/2-103 and Iowa Code 554.2103. or when title passed, or who retained possession, or any of the other factual questions the parties debate.”
Libertyville Toyota v. U.S. Bank (Ill. App. Ct. 2007). “However, “good faith” requires only the observance of “reasonable commercial standards” (810 ILCS 5/2-103(1)(b) (West 2004)), not that U.”
Bank One v. Loeber Motors, Inc. (Ill. App. Ct. 1997). “) 810 ILCS 5/2-103(b)(West 1994). As an initial matter, then, we shall decide which "good faith" standard applies to the present case.”
— 810 ILCS 5/2-103(1)(b) — 1 case
Libertyville Toyota v. U.S. Bank (Ill. App. Ct. 2007). “However, “good faith” requires only the observance of “reasonable commercial standards” (810 ILCS 5/2-103(1)(b) (West 2004)), not that U.”
— 810 ILCS 5/2-103(1)(d) — 1 case
GFRB, LLC v. Worthy Promotional Prods., LLC (N.D. Ill. 2024). “29, 2021) (citing 810 ILCS 5/2-103(1)(d); 801 5/2-106(1)). Worthy does not substantively respond to GFRB’s argument that it was not a “seller” under the UCC.”
— 810 ILCS 5/2-103(b) — 2 cases
Baxter Healthcare Corp. v. O.R. Concepts, Inc., 69 F.3d 785 (7th Cir. 1995). “Section 1-203 of the UCC provides that “[e]very contract or duty within this Act imposes an obligation of good faith in its performance or enforcement.”
Bank One v. Loeber Motors, Inc. (Ill. App. Ct. 1997). “) 810 ILCS 5/2-103(b)(West 1994). As an initial matter, then, we shall decide which "good faith" standard applies to the present case.”
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