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

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

(2) [Repealed, § 113 ch 44 SLA 2009.]

(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.