uniform commercial code

listen to the pronunciation of uniform commercial code
English - Turkish
üniforma ticaret kanunu
English - English
A set of regulations covering most business transactions, including requirements for negotiable instruments
A set of business-related laws dealing with the sale of goods, their transportation and delivery, financing, storage, payments, and various other commercial transactions These model laws have been adopted, with minor modifications, by most states to provide some consistency among states' commercial laws They were drafted by the National Conference of Commissioners on Uniform State Laws
Group of laws that are applicable to commercial transactions Only a few of the laws have relevance to real estate transactions
Standardized set of guidelines protected by law that set down how business transactions must be conducted
A compilation of statutory provisions designed to simplify, clarify and modernize the law governing commercial transaction; to permit the continued expansion of commercial practices through custom, usage and agreement of the parties, and to make uniform the law among various jurisdictions Note: A minority of states adhere to the 1962 version of the U C C while others have adopted the 1972 amendments Louisiana, which still adheres to the Civil (Napoleonic) Code, has not adopted the U C C
A codification of law, which clarifies and regulates the rights and obligations of buyers and sellers engaging in commercial transactions It has been adopted by all states except Louisiana
The body of laws, adopted in whole or in part by most states, pertaining to financial transactions such as bank deposits and collections, letters of credit and title documents
A comprehensive code of laws regulating important legal aspects of business and financial transactions The code has been accepted by every state except Louisiana
United States statute covering the rights and obligations of the various parties involved in the purchase and sale of goods The UCC includes coverage of drafts and other negotiable instruments, documents of title, transfers of funds between banks, and security interests in assets as well as draft collections (in Article 4) and letters of credit (in Article 5)
Codification of uniform laws concerning commercial transactions In SBA parlance generally refers to a uniform method of recording and enforcing a security interest or charge upon existing or to be acquired personal property
A uniform law governing commercial transactions The U C C has been adopted by all states except Louisiana
Rules that have been adopted by many states and countries in respect to commercial transactions
A body of law whose underlying purpose and policies are (a) to simplify, clarify and modernize the law governing commercial transactions; (b) to permit the continued expansion of commercial practices through custom, usage and agreement of the parties; (c) to make uniform the law among the various jurisdictions The effect of provisions of this Act may be varied by agreement, except as otherwise provided in this Act and except that the obligations of good faith, diligence, reasonableness and care prescribe by this Act may not be disclaimed by agreement but the parties may by agreement determine the standards by which the performance of such obligations is to be measured if such standards are not manifestly unreasonable (Taken from Article 1, General Provisions, Uniform Commercial Code, The Portable UCC, second edition )
A codification of commercial law, adopted in most states, that attempts to make uniform all laws relating to commercial transactions, including chattel mortgages and bulk transfers Security interests in chattels are created by an instrument known as a security agreement To give notice of the security interest, a financing statement must be recorded
Legal code that codifies certain laws dealing with commercial business
A statute governing commercial transactions, sales, and commercial paper that has been adopted in substantially the same form in all 50 states
A list of protocols or standards, adopted by every state except Louisiana, which govern commercial transactions such as leases
a set of legal statutes adopted by almost all U S states to provide consistent and uniform laws for conducting business
The State Code which regulates the transfer of property
Effective January 1, 1965 Establishes a unified and comprehensive scheme for regulation of security transactions in personal propert7y, superseding the existing statutes on chattel mortgages, conditional sales, trust receipts, assignment of accounts receivable and others in this field
A set of standard rules, adopted by 50 states, that governs commercial transactions The Uniform Commercial Code Bureau files and maintains record on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations This information is important to any business or financial institution contemplating entering a lien transaction as the secured party
A set of statutes that provides a degree of consistency among commercial laws among differerent states (USA)
Collection of laws dealing with commercial business
1 A code of laws governing various commercial transactions, including the sale of goods, banking transactions, secured transactions in personal property, and other matters The UCC was designed to bring uniformity in these areas to the laws of the various states It has been adopted, with some modifications, in all states (except Louisiana) as well as in the District of Columbia and in the Virgin Islands
ucc

Related Terms

uniform code
uniform collection of laws
uniform commercial code

    Hyphenation

    u·ni·form com·mer·cial code

    Turkish pronunciation

    yunıfôrm kımırşıl kōd

    Pronunciation

    /ˈyo͞onəˌfôrm kəˈmərsʜəl ˈkōd/ /ˈjuːnəˌfɔːrm kəˈmɜrʃəl ˈkoʊd/
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