buyer in ordinary course of business

A person who — in good faith and without knowledge that the sale violates a third party’s ownership rights or security interest in the goods — buys from a person regularly engaged in the business of selling goods of that kind.

• Pawnbrokers are excluded from the definition. UCC § 1-201(b)(9). [Cases: Sales 234. C.J.S. Sales §§ 232–233, 235.]

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词条贡献者

译者Carl，知名法学院保险学专业，擅长翻译各种与保险理赔追索相关的法律文件。