2876

LAWS OF MARYLAND

Ch. 824

(2) Where one of the following provisions of Titles 1
through 10 of this article specifies the applicable law,
that provision governs and a contrary agreement is effective
only to the extent permitted by the law (including the
conflict of laws rules) so specified:

Rights of creditors against sold goods. § 2-402.

Applicability of the title on bank deposits and
collections. § 4-102.

Bulk transfers subject to the title on bulk transfers.
§ 6-102.

Applicability of the title on investment securities. §
8-106.

[Policy and scope of the title on secured transactions.
§§ 9-102 and 9-103.]

PERFECTION PROVISIONS OF THE TITLE ON SECURED
TRANSACTIONS. § 9-103.

1-201.

Subject to additional definitions contained in the
subsequent titles of this article which are applicable to
specific titles or subtitles thereof, and unless the context
otherwise requires, in Titles 1 through 10 of this article:

(1)  "Action" in the sense of a judicial
proceeding includes recoupment, counterclaim, set-off, suit
in equity and any other proceedings in which rights are
determined.

(2)  "Aggrieved party" means a party entitled to
resort to a remedy.

(3)  "Agreement" means the bargain of the parties
in fact as found in their language or by implication from
other circumstances including course of dealing or usage of
trade or course of performance as provided in Titles 1
through 10 of this article (§§ 1-205 and 2-208). Whether an
agreement has legal consequences is determined by the
provisions of Titles 1 through 10 of this article, if
applicable; otherwise by the law of contracts (§ 1-103).
(Compare "Contract.")

(4)  "Bank" means any person engaged in the
business of banking.

(5)  "Bearer" means the person in possession of
an instrument, document of title, or security payable to
bearer or indorsed in blank.

(6)  "Bill of lading" means a document evidencing
the receipt of goods for shipment issued by a person engaged