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The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
The Uniform Commercial Code (UCC) currently consists of the following articles: . Art. 1, General Provisions; Art. 2, Sales; Art. 2A, Leases; Art. 3, Negotiable ...
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a United States legal form that a creditor files to give notice that it has or may have an interest in the personal property of a debtor (a person who owes a debt to the creditor as typically specified in the agreement creating the debt).
Founded in 1992 by Peter Martin and Tom Bruce, [2] [3] LII was the first law site developed on the internet. [4] LII electronically publishes on the Web the U.S. Code, U.S. Supreme Court opinions, Uniform Commercial Code, the US Code of Federal Regulations, several Federal Rules, [5] and a variety of other American primary law materials. [6]
Uniform Commercial Code, a 1952 uniform act to harmonize state contract law for the sale of goods in the respective states of the United States; Uniform Construction Code, a set of laws regulating construction in the United States; the Union Customs Code of the European Union Customs Union, gradually implemented from 1 May 2016
the principle of independence, which refers to the fact that a credit transaction is separate from the sale of goods or other form of contract financed by the credit facility; the principle that banks deal only in documents and not with the underlying exchange of property or other activity. [3]
The term course of performance is defined in the Uniform Commercial Code as follows: (a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) the agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and
UCC Insurance generally insures the attachment, perfection and priority of security interests in personal property. UCC Insurance is utilized for transactions described in Article 9, "Secured Transactions", of the Uniform Commercial Code,"UCC". All of the larger land-title insurance companies now offer various versions of UCC insurance.