This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. October Learn how and when to remove this template message A UCC-1 financing statement an abbreviation for Unified Commercial Code -1 is a 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.
Download PDF version of guide for print I. What is the UCC? The Uniform Commercial Code UCCa comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law. The UCC text and draft revisions are written by experts in commercial law and submitted as drafts for approval to the National Conference of Commissioners on Uniform State Laws referred to as Ucc article 2 Uniform Law Commissionersin collaboration with the American Law Institute.
The Commissioners are all attorneys, qualified to practice law, including state and federal judges, legislators and law professors from throughout the United States and its territories.
These quasi-public organizations meet and decide whether to endorse the drafts or to send them back to the experts for revision. The revision process may result in several different revisions of the original draft. Once a draft is endorsed, the Uniform Law Commissioners recommend that the states adopt these rules.
The UCC is a model code, so it does not have legal effect in a jurisdiction unless UCC provisions are enacted by the individual state legislatures as statutes.
Article 1 of the Code contains a set of general provisions equally applicable to all subsequent articles. Articles 10 and 11 contain provisions for effective dates, repeals and transitional matters.
The primary sources for UCC research are: Besides the text of the Code itself, the Official Comments are almost universally treated as the most authoritative sources in the construction of the Code sections.
The PEB Commentary was introduced in Note that some Commentary may be superseded by later Code amendments. Lastly, a substantial body of case law exists on the UCC.
UCC litigation occurs in both federal and state courts, including bankruptcy courts, for matters arising under Article 9. Some Articles are less litigated than others, resulting in limited case law for certain Articles. Primary Source Materials A. The following list includes the most widely consulted sources: Official Text With Comments.
Current edition on Reserve; earlier editions KFUCC Administrative Rules. UCC Administrative Rules (Rev. July 10, ) were formally adopted by the Board of Directors of the Georgia Superior Court Clerks’ Cooperative Authority on July 10, The Uniform Commercial Code (UCC) is the result of an effort to harmonize the law of sales and other commercial transactions in all 50 states within the United ().
The Uniform Commercial Code (UCC) is the result of an effort to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.
The Uniform Commercial Code (UCC), first published in , is one of a number of uniform acts that have been put into law with the goal of harmonizing the law of sales and other commercial transactions across the United States of America (U.S.) through UCC adoption by all 50 states, the District of Columbia, and the U.S.
territories.. While largely successful at achieving this ambitious goal.
For the current version, see: U.C.C. - ARTICLE 2 - SALES () Note: The UCC withdrew the amendments to Article 2. This version is preserved for historical purposes only PART 1. SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER [Table of Contents] § Short Title. This Article shall be known and may be cited as Uniform Commercial Code-Sales. UCC Article 2 deals with contract interactions between a merchant and a non-merchant. Contact LegalMatch at () right away to find an attorney. Student IT Guide - Download PDF version of the Student IT Guide - Find Out More.
For the current version, see: U.C.C. - ARTICLE 2 - SALES () Note: The UCC withdrew the amendments to Article 2. This version is preserved for historical purposes only PART 1.
SHORT TITLE, GENERAL CONSTRUCTION AND SUBJECT MATTER [Table of Contents] § Short Title. This Article shall be known and may be cited as Uniform Commercial Code-Sales.
The Uniform Commercial Code has eleven substantive articles. Article 9, Secured Transactions, may be the most important of the eleven.
Article 9 provides the rules governing any transaction (other than a finance lease) that couples a debt with a creditor’s interest in a debtor’s personal property.
|Student IT Services and Support||UCC stands for the Uniform Commercial Codewhich governs many different types of contract interactions. Article 2 is a popularly cited provision in this body of statutes, since it governs contracts for the sale of goods between merchants or between a merchant and a non-merchant.|
|Uniform Commercial Code (UCC) | Duke University School of Law||Contract formation[ edit ] Firm offers offers by USAUS Inc to buy or sell goods and promising to keep the offer open for a period of time are valid without consideration if signed by the offeror, and are irrevocable for the time stated on the Purchase Order but no longer than 3 monthsor, if no time is stated, for a reasonable time.|
|Search form||Thus, Article 2 address sales of tangible items i. Goods does include things attached to realty which can be severed from the realty without material harm thereto, such as crops and minerals UCC|
|Uniform Commercial Code - Wikipedia||Section a|