The uniform commercial code is significant because it clarifies sales law and makes this area of law more predictable to businesses that engage in transactions in more than one state.
The Uniform Commercial Code is a model law that addresses a variety of commercial issues, including the sale of commodities, credit, bank transactions, business conduct, warranties, negotiable instruments, loans backed by personal property, and other issues.
Only commercial and business transactions are subject to the laws of the Uniform Commercial Code. The U.C.C. is a model for laws and merely serves as a general guide to the laws that apply to commercial and business activities. Each jurisdiction is free to embrace the parts that apply to their own legal problems.
The U.C.C. includes model language, but it also has other portions that make it easier to use the model code. There is a portion of commentary that aims to explain the specific U.C.C. sections and offer examples of how the code is used in real-world situations.
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