Sec. 42a-2-104. Definitions: "Merchant"; "between merchants"; "financing agency".
Sec. 42a-2-104. Definitions: "Merchant"; "between merchants"; "financing
agency". (1) "Merchant" means a person who deals in goods of the kind or otherwise
by his occupation holds himself out as having knowledge or skill peculiar to the practices
or goods involved in the transaction or to whom such knowledge or skill may be attributed by his employment of an agent or broker or other intermediary who by his occupation holds himself out as having such knowledge or skill.
(2) "Financing agency" means a bank, finance company or other person who in the
ordinary course of business makes advances against goods or documents of title or who
by arrangement with either the seller or the buyer intervenes in ordinary course to make
or collect payment due or claimed under the contract for sale, as by purchasing or paying
the seller's draft or making advances against it or by merely taking it for collection
whether or not documents of title accompany or are associated with the draft. "Financing
agency" includes also a bank or other person who similarly intervenes between persons
who are in the position of seller and buyer in respect to the goods as provided by section
42a-2-707.
(3) "Between merchants" means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants.
(1959, P.A. 133, S. 2-104; P.A. 04-64, S. 45.)
History: P.A. 04-64 amended Subsec. (2) by adding "or are associated with" to conform to revisions made to article 7
by the same act.
Person who holds himself out to have special skills may be considered merchant. 160 C. 468.