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Session Laws, 1980
Volume 739, Page 2881   View pdf image
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HARRY HUGHES, Governor                             2881

(39)  "Signed" includes any symbol executed or
adopted by a party with present intention to authenticate a

(40)  "Surety" includes guarantor.

(41)  "Telegram" includes a message transmitted
by radio, teletype, cable, any mechanical method of
transmission, or the like.

(42)  "Term" means that portion of an agreement
which relates to a particular matter.

(43)  "Unauthorized signature or indorsement"
means one made without actual, implied or apparent authority
and includes a forgery.

(44)  "Value." Except as otherwise provided with
respect to negotiable instruments and bank collections (§§
3-303, 4-208 and 4-209) a person gives "value" for rights if
he acquires them:

(a)  In return for a binding commitment to
extend credit or for the extension of immediately available
credit whether or not drawn upon and whether or not a
charge-back is provided for in the event of difficulties in
collection; or

(b)  As security for or in total or partial
satisfaction of a preexisting claim; or

(c)  By accepting delivery pursuant to a
preexisting contract for purchase; or

(d)  Generally, in return for any
consideration sufficient to support a simple contract.

(45)  "Warehouse receipt" means a receipt issued
by a person engaged in the business of storing goods for

(46)  "Written" or "writing" includes printing,
typewriting or any other intentional reduction to tangible


(1) A contract for the sale of [timber,] minerals or
the like (INCLUDING OIL OR GAS) or a structure or its
materials to be removed from realty is a contract for the
sale of goods within this title if they are to be severed by
the seller but until severance a purported present sale
thereof which is not effective as a transfer of an interest
in land is effective only as a contract to sell.

(2)  A contract for the sale apart from the land of
growing crops or other things attached to realty and capable


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Session Laws, 1980
Volume 739, Page 2881   View pdf image
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