                                 CODE OF VIRGINIA

DEFINITIONS: &#8220;MERCHANT&#8221;; &#8220;FINANCING AGENCY&#8221;;
&#8220;BETWEEN MERCHANTS.&#8221; (§ 8.2-104)

1. &#8220;Merchant&#8221; 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. &#8220;Financing agency&#8221; 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&#8217;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. &#8220;Financing agency&#8221;
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 (&#xA7;
8.2-707).

3. &#8220;Between merchants&#8221; means in any transaction with respect to
which both parties are chargeable with the knowledge or skill of merchants.

HISTORY: 1964, c. 219; 2004, c. 200.