                                 CODE OF VIRGINIA

DEFINITIONS: &#8220;CONTRACT&#8221;; &#8220;AGREEMENT&#8221;; &#8220;CONTRACT
FOR SALE&#8221;; &#8220;SALE&#8221;; &#8220;PRESENT SALE&#8221;;
&#8220;CONFORMING&#8221; TO CONTRACT; &#8220;TERMINATION&#8221;;
&#8220;CANCELLATION&#8221;; &#8220;HYBRID TRANSACTION.&#8221; (§ 8.2-106)

1. In this title unless the context otherwise requires &#8220;contract&#8221;
and &#8220;agreement&#8221; are limited to those relating to the present or
future sale of goods. &#8220;Contract for sale&#8221; includes both a present
sale of goods and a contract to sell goods at a future time. A
&#8220;sale&#8221; consists in the passing of title from the seller to the buyer
for a price (&#xA7; 8.2-401). A &#8220;present sale&#8221; means a sale which is
accomplished by the making of the contract.

2. Goods or conduct including any part of a performance are
&#8220;conforming&#8221; or conform to the contract when they are in accordance
with the obligations under the contract.

3. &#8220;Termination&#8221; occurs when either party pursuant to a power
created by agreement or law puts an end to the contract otherwise than for its
breach. On &#8220;termination&#8221; all obligations which are still executory
on both sides are discharged but any right based on prior breach or performance
survives.

4. &#8220;Cancellation&#8221; occurs when either party puts an end to the
contract for breach by the other and its effect is the same as that of
&#8220;termination&#8221; except that the cancelling party also retains any
remedy for breach of the whole contract or any unperformed balance.

5. &#8220;Hybrid transaction&#8221; means a single transaction involving a sale
of goods and:

   a. the provision of services;

   b. a lease of other goods; or

   c. a sale, lease, or license of property other than goods.

HISTORY: 1964, c. 219; 2024, c. 652.