Ind. Code » Title 26
Indiana Code

Ind. Code § 26-1-2-103 (2025)

Definitions and index of definitions

✓ 2025 Indiana Code: the 2026 session is not included
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     Sec. 103. (1) In IC 26-1-2, 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 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 IC 26-1-2, or to specified parts thereof, and the sections in which they appear are:

"Acceptance". IC 26-1-2-606.

"Banker's credit". IC 26-1-2-325.

"Between merchants". IC 26-1-2-104.

"Cancellation". IC 26-1-2-106(4).

"Commercial unit". IC 26-1-2-105.

"Confirmed credit". IC 26-1-2-325.

"Conforming to contract". IC 26-1-2-106.

"Contract for sale". IC 26-1-2-106.

"Cover". IC 26-1-2-712.

"Entrusting". IC 26-1-2-403.

"Financing agency". IC 26-1-2-104.

"Future goods". IC 26-1-2-105.

"Goods". IC 26-1-2-105.

"Identification". IC 26-1-2-501.

"Instalment contract". IC 26-1-2-612.

"Letter of credit". IC 26-1-2-325.

"Lot". IC 26-1-2-105.

"Merchant". IC 26-1-2-104.

"Overseas". IC 26-1-2-323.

"Person in the position of seller". IC 26-1-2-707.

"Present sale". IC 26-1-2-106.

"Sale". IC 26-1-2-106.

"Sale on approval". IC 26-1-2-326.

"Sale or return". IC 26-1-2-326.

"Termination". IC 26-1-2-106.

     (3) "Control" as provided in IC 26-1-7-106 and the following definitions apply to IC 26-1-2:

"Check". IC 26-1-3.1-104.

"Consignee". IC 26-1-7-102.

"Consignor". IC 26-1-7-102.

"Consumer goods". IC 26-1-9.1-102.

"Dishonor". IC 26-1-3.1-502.

"Draft". IC 26-1-3.1-104.

     (4) In addition, IC 26-1-1 contains general definitions and principles of construction and interpretation applicable throughout IC 26-1-2.

Formerly: Acts 1963, c.317, s.2-103. As amended by P.L.152-1986, SEC.121; P.L.222-1993, SEC.3; P.L.57-2000, SEC.15; P.L.143-2007, SEC.7.

 

Notes of Decisions
Cited in 7 cases (1 in the last 5 years), 1987–2021 · leading case: Rheem Mfg. Co. v. Phelps Heating & Air Conditioning, Inc., 746 N.E.2d 941 (Ind. 2001).
Sort: Relevance Newest Treatment
Rheem Mfg. Co. v. Phelps Heating & Air Conditioning, Inc., 746 N.E.2d 941 (Ind. 2001). · cites it 4× “Ind.Code § 26-1-2-103(b) (1993). The UCC in turn "imposes an obligation of good faith in [a contract's] performance or enforcement.”
Hyundai Motor Am., Inc. v. Goodin, 822 N.E.2d 947 (Ind. 2005). · cites it 4× “Indiana Code section 26-1-2-103(i)(a) defines "buyer" as "a person who buys or contracts to buy goods" and section 26-1-2-103(1)(d) defines "seller" as "a person who sells or contracts to sell goods.”
Robert Geller v. Kurt P. Kinney, 980 N.E.2d 390 (Ind. Ct. App. 2012). · cites it 3× “Code § 26-1-2-103 (1)(b). Applying these observations of good faith to the contract here at issue and interpreting the contract against Agent, its drafter, the trial court erred in interpreting the exculpatory clause provision of releasing Agent from liability for any action…”
Stoehr v. Yost, 765 N.E.2d 684 (Ind. Ct. App. 2002). · cites it 2× “, Ind.Code § 26-1-2-103(b) (defining "good faith" objectively under Indiana's Commercial Code as "honesty in fact and observance of reasonable commercial standards of fair dealing in the trade"); Ind.”
Mac's Eggs, Inc. v. Rite-Way Agri Distributors, Inc., 656 F. Supp. 720 (N.D. Ind. 1987). “CODE § 26-1-2-103. Mr. Degenhardt claims he was not a “seller” as defined by the Uniform Commercial Code.”
PSI Energy, Inc. v. Exxon Coal USA, Inc., 831 F. Supp. 1430 (S.D. Ind. 1993). · cites it 2× “” Ind.Code § 26-1-2-103(1) (Burns 1992). 6.”
Davila v. Adesa Utah, No. 2:20-cv-00055 (D. Utah Aug. 25, 2021). “51 Ind. Code § 26-1-2-103 (1)(d). agreement was not a contract for the sale of goods and Defendants were not sellers.”
Ind. Code § 26-1-2-103(1): 1 case
PSI Energy, Inc. v. Exxon Coal USA, Inc., 831 F. Supp. 1430 (S.D. Ind. 1993). “” Ind.Code § 26-1-2-103(1) (Burns 1992). 6.”
Ind. Code § 26-1-2-103(1)(d): 1 case
Hyundai Motor Am., Inc. v. Goodin, 822 N.E.2d 947 (Ind. 2005). “Indiana Code section 26-1-2-103(i)(a) defines "buyer" as "a person who buys or contracts to buy goods" and section 26-1-2-103(1)(d) defines "seller" as "a person who sells or contracts to sell goods.”
Ind. Code § 26-1-2-103(b): 2 cases
Rheem Mfg. Co. v. Phelps Heating & Air Conditioning, Inc., 746 N.E.2d 941 (Ind. 2001). “Ind.Code § 26-1-2-103(b) (1993). The UCC in turn "imposes an obligation of good faith in [a contract's] performance or enforcement.”
Stoehr v. Yost, 765 N.E.2d 684 (Ind. Ct. App. 2002). “, Ind.Code § 26-1-2-103(b) (defining "good faith" objectively under Indiana's Commercial Code as "honesty in fact and observance of reasonable commercial standards of fair dealing in the trade"); Ind.”
Ind. Code § 26-1-2-103(i)(a): 1 case
Hyundai Motor Am., Inc. v. Goodin, 822 N.E.2d 947 (Ind. 2005). “Indiana Code section 26-1-2-103(i)(a) defines "buyer" as "a person who buys or contracts to buy goods" and section 26-1-2-103(1)(d) defines "seller" as "a person who sells or contracts to sell goods.”
Ind. Code § 26-1-2-103(l)(b): 1 case
Robert Geller v. Kurt P. Kinney, 980 N.E.2d 390 (Ind. Ct. App. 2012). “Code § 26-1-2-103 (1)(b). Applying these observations of good faith to the contract here at issue and interpreting the contract against Agent, its drafter, the trial court erred in interpreting the exculpatory clause provision of releasing Agent from liability for any action…”
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