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Uniform Commercial Code (UCC)

Collection of laws dealing with commercial business.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Uniform Commercial Code

A template for a law governing the transfer of personal property, commercial goods, and other property (though generally excluding real estate). The Uniform Commercial Code governs sales, leases, bank deposits, letters of credit, auctions, securities, and other transactions when they are subject to state, rather than federal, law. The Uniform Commercial Code was developed in the 1950s by the American Law Institute and the National Conference of Commissioners on Uniform State Laws in order to unify legal codes in all American states. All 50 states (as well as the District of Columbia and several commonwealths) have adopted a version of the Uniform Commercial Code, though some states, notably Louisiana, have made various changes to it.
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See Uniform Commercial Code.

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References in periodicals archive ?
Lou explains to Sophie that on July 1, 2001, important changes to the Uniform Commercial Code (UCC) become effective in Utah.
The UCC advises companies that use edits based on the packaging type to remove or disregard them by January 2001.
The Tax Court agreed and upheld the IRS's revocation of UCC's tax exemption on the private inurement theory.
(3) In all other cases, the contract is governed by the law of the jurisdiction with the most significant relationship to the transaction, (UCC Article 2B [sections] 2B-107)
With the case remanded to the Tax Court, however the issue of private benefit (i.e., whether the fundraiser received reasonable compensation for its efforts on behalf of the UCC) will surely be explored and analyzed in more detail.
In response to attacks and biased review process, Rodman filed a complaint with the Human Rights Tribunal of Ontario (HRTO) against the UCC for discriminating against her anti-Zionist worldview.
Founded by Tadao Ueshima, known as the "Father of Coffee" in Japan, UCC was introduced in the Philippines by entrepreneur Hubert Young in 2000.
A consignor must do more than merely file a UCC financing statement to obtain a superior interest in its consigned goods.
The director to UCC, Godfrey Mutabazi further accused the newspaper of offering online news services illegally and directed suspension of the services provided by Daily Monitor.
In this Live Webcast, a panel of distinguished professionals and thought leaders will provide an in-depth discussion of the latest trends and developments impacting UCC compliance.