N.J. Stat. » Title 12A — COMMERCIAL TRANSACTIONS
New Jersey Statutes

N.J. Stat. § 12A:2-103 (2026)

Definitions and index of definitions

✓ current as of May 2026
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12A:2-103. Definitions and index of definitions.

(1) In this chapter 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 Chapter or to specified Subchapters thereof, and the sections in which they appear are:

"Acceptance" 12A:2-606. "Banker's credit" 12A:2-325. "Between merchants" 12A:2-104. "Cancellation" 12A:2-106(4). "Commercial unit" 12A:2-105. "Confirmed credit" 12A:2-325. "Conforming to contract" 12A:2-106. "Contract for sale" 12A:2-106. "Cover" 12A:2-712. "Entrusting" 12A:2-403. "Financing agency" 12A:2-104. "Future goods" 12A:2-105. "Goods" 12A:2-105. "Identification" 12A:2-501. "Installment contract" 12A:2-612. "Letter of Credit" 12A:2-325. "Lot" 12A:2-105. "Merchant" 12A:2-104. "Overseas" 12A:2-323. "Person in position of seller" 12A:2-707. "Present sale" 12A:2-106. "Sale" 12A:2-106. "Sale on approval" 12A:2-326. "Sale or return" 12A:2-326. "Termination" 12A:2-106.

(3) The following definitions in other Chapters apply to this Chapter:

"Check" 12A:3-104. "Consignee" 12A:7-102. "Consignor" 12A:7-102. "Consumer goods" 12A:9-102. "Control" 12A:7-106. "Dishonor" 12A:3-502. "Draft" 12A:3-104.

(4) In addition Chapter 1 contains general definitions and principles of construction and interpretation applicable throughout this Chapter.

Notes of Decisions
Cited in 10 cases (1 in the last 5 years), 1986–2024 · leading case: Elliott & Frantz, Inc. v. Ingersoll-Rand Co., 457 F.3d 312 (3rd Cir. 2006).
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Elliott & Frantz, Inc. v. Ingersoll-Rand Co., 457 F.3d 312 (3rd Cir. 2006). “” N.J. Stat. Ann. § 12A:2-103(1)(b) (West 2004); see also Brunswick Hills, 864 A.”
Cargill Global Trading v. Applied Dev. Co., 706 F. Supp. 2d 563 (D.N.J. 2010). “A plaintiff must “provide evidence sufficient to support a conclusion that the party alleged to have acted in bad faith has engaged in some conduct that denied the benefit of the bargain originally intended by the parties.” Williston on Contracts § 63:22 at 513-14.”
Oscar Mayer Corp. v. Mincing Trading Corp., 744 F. Supp. 79 (D.N.J. 1990). · cites it 2× “N.J.Stat.Ann. § 12A:2-103(l)(d) (West 1962); N.”
Thomas v. JPMorgan Chase & Co., 811 F. Supp. 2d 781 (S.D.N.Y. 2011). “N.J. Stat. Ann. § 12A:2-103(l)(b) (West 2004).”
Gen. Elec. Credit Corp. of Tennessee v. Ger-Beck Mach. Co., Inc., Fischer Indus., Inc., & Am. Tool, Inc., Ger-Beck Mach. Co., Inc., Am. Tool, Inc. & Fischer Indus., Inc., Third-Party v. Gen. Automation, Inc., Third-Party Appeal of Ger-Beck Mach. Co., Inc, 806 F.2d 1207 (3rd Cir. 1987). · cites it 2× “12A:2-608(2) (requiring notification of "seller"); see also N.J.S.A. 12A:2-103(1)(d) (defining "seller" as one who "sells or contracts to sell goods").”
Emerson Radio Corp. v. Orion Sales, Inc., 80 F. Supp. 2d 307 (D.N.J. 2000). “” N.J.S.A. 12A:2-103(1)(b); see also N.J.S.”
Camden Iron & Metal, Inc. v. Bomar Resources, Inc., 719 F. Supp. 297 (D.N.J. 1989). “12A:l-203, by not observing a “reasonable commercial standard [ ] of fair dealing in the trade,” N.J.S.A. 12A:2-103(l)(b), to wit, the accepted standard of pressing a vessel’s tanks as a condition precedent to a draft survey.”
Gen. Elec. Credit Corp. v. Ger-Beck Mach. Co., 806 F.2d 1207 (3rd Cir. 1986). · cites it 2× “” N.J.S.A. 12A:2-103(d). A “sale” consists in the passing of title from the seller to the buyer for a price.”
Antero Resources Corp. v. South Jersey Resources Grp., 933 F.3d 1209 (10th Cir. 2019). “at 1126 (quoting N.J. Stat. § 12A:2-103(1)(b) ). "The observance of reasonable commercial standards of fair dealing is the objective element.”
922 Rvd, LLC v. Bc Int'l Grp., Inc. (N.J. Super. Ct. App. Div. 2024). “(quoting N.J.S.A. 12A:2-103(1)(b)). A party acting in good faith does not "violate community standards of decency, fairness or reasonableness.”
— N.J. Stat. § 12A:2-103(1)(b) — 4 cases
Elliott & Frantz, Inc. v. Ingersoll-Rand Co., 457 F.3d 312 (3rd Cir. 2006). “” N.J. Stat. Ann. § 12A:2-103(1)(b) (West 2004); see also Brunswick Hills, 864 A.”
Emerson Radio Corp. v. Orion Sales, Inc., 80 F. Supp. 2d 307 (D.N.J. 2000). “” N.J.S.A. 12A:2-103(1)(b); see also N.J.S.”
Antero Resources Corp. v. South Jersey Resources Grp., 933 F.3d 1209 (10th Cir. 2019). “at 1126 (quoting N.J. Stat. § 12A:2-103(1)(b) ). "The observance of reasonable commercial standards of fair dealing is the objective element.”
922 Rvd, LLC v. Bc Int'l Grp., Inc. (N.J. Super. Ct. App. Div. 2024). “(quoting N.J.S.A. 12A:2-103(1)(b)). A party acting in good faith does not "violate community standards of decency, fairness or reasonableness.”
— N.J. Stat. § 12A:2-103(1)(d) — 1 case
Gen. Elec. Credit Corp. of Tennessee v. Ger-Beck Mach. Co., Inc., Fischer Indus., Inc., & Am. Tool, Inc., Ger-Beck Mach. Co., Inc., Am. Tool, Inc. & Fischer Indus., Inc., Third-Party v. Gen. Automation, Inc., Third-Party Appeal of Ger-Beck Mach. Co., Inc, 806 F.2d 1207 (3rd Cir. 1987). “12A:2-608(2) (requiring notification of "seller"); see also N.J.S.A. 12A:2-103(1)(d) (defining "seller" as one who "sells or contracts to sell goods").”
— N.J. Stat. § 12A:2-103(d) — 2 cases
Gen. Elec. Credit Corp. of Tennessee v. Ger-Beck Mach. Co., Inc., Fischer Indus., Inc., & Am. Tool, Inc., Ger-Beck Mach. Co., Inc., Am. Tool, Inc. & Fischer Indus., Inc., Third-Party v. Gen. Automation, Inc., Third-Party Appeal of Ger-Beck Mach. Co., Inc, 806 F.2d 1207 (3rd Cir. 1987). “12A:2-608(2) (requiring notification of "seller"); see also N.J.S.A. 12A:2-103(1)(d) (defining "seller" as one who "sells or contracts to sell goods").”
Gen. Elec. Credit Corp. v. Ger-Beck Mach. Co., 806 F.2d 1207 (3rd Cir. 1986). “” N.J.S.A. 12A:2-103(d). A “sale” consists in the passing of title from the seller to the buyer for a price.”
— N.J. Stat. § 12A:2-103(l)(b) — 3 cases
Cargill Global Trading v. Applied Dev. Co., 706 F. Supp. 2d 563 (D.N.J. 2010). “A plaintiff must “provide evidence sufficient to support a conclusion that the party alleged to have acted in bad faith has engaged in some conduct that denied the benefit of the bargain originally intended by the parties.” Williston on Contracts § 63:22 at 513-14.”
Thomas v. JPMorgan Chase & Co., 811 F. Supp. 2d 781 (S.D.N.Y. 2011). “N.J. Stat. Ann. § 12A:2-103(l)(b) (West 2004).”
Camden Iron & Metal, Inc. v. Bomar Resources, Inc., 719 F. Supp. 297 (D.N.J. 1989). “12A:l-203, by not observing a “reasonable commercial standard [ ] of fair dealing in the trade,” N.J.S.A. 12A:2-103(l)(b), to wit, the accepted standard of pressing a vessel’s tanks as a condition precedent to a draft survey.”
— N.J. Stat. § 12A:2-103(l)(d) — 2 cases
Oscar Mayer Corp. v. Mincing Trading Corp., 744 F. Supp. 79 (D.N.J. 1990). “N.J.Stat.Ann. § 12A:2-103(l)(d) (West 1962); N.”
Gen. Elec. Credit Corp. v. Ger-Beck Mach. Co., 806 F.2d 1207 (3rd Cir. 1986). “” N.J.S.A. 12A:2-103(d). A “sale” consists in the passing of title from the seller to the buyer for a price.”
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