Uniform Commercial Code - Explained
What is the UCC?
Written by Jason Gordon
Updated at September 26th, 2021
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What is the Uniform Commercial Code?
The Uniform Commercial Code (UCC) is a set of model business laws related to business transactions and financial contracts in the United States. The UCC, as a Model law, is a set of systematic (standardized) business laws that guides business conducts, exchange of goods, credit institutions, bank transactions and all other commercial proceedings or financial arrangements. The UCC contains nine distinct articles, as follows:
- Article 1: General Provisions
- Article 2: Sales
- Article 2A: Leases
- Article 3: Negotiable Instruments
- Article 4: Bank Deposits and Collections
- Article 4A: Funds Transfers
- Article 5: Letters of Credit
- Article 6: Bulk Transfers/Bulk Sales
- Article 7: Documents of Title
- Article 8: Investment Securities
- Article 9: Secured Transactions
Back To: COMMERCIAL LAW: CONTRACTS, PAYMENTS, SECURITY INTERESTS, & BANKRUPTCY
Related Topics
- What is a Security Interest?
- Collateral
- Pledge as Collateral
- Collateralize
- Cross Collateralization
- After-Acquired Collateral
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Unsecured Loan Definition
- Unencumbered Asset
- What is a Secured Creditor?
- Unsecured Creditor
- What are the benefits of security interests for creditors?
- Limited Recourse Debt
- Uniform Commercial Code - Article 9
Academic Research on the Uniform Commercial Code
- Good faith performance and commercial reasonableness under the Uniform Commercial Code, Farnsworth, E. A. (1962). U. Chi. L. Rev., 30, 666.
- "Good Faith" in General Contract Law and the Sales Provisions of the Uniform Commercial Code, Summers, R. S. (1968). Virginia Law Review, 195-267.
- Legislative History of the Uniform Commercial Code, The, Braucher, R. (1958). Colum. L. Rev., 58, 798.
- A Comment on the jurisprudence of the Uniform Commercial Code, Danzig, R. (1974). Stan L. Rev., 27, 621.Uniform Commercial Code, Summers, R. (1972).
- The Law of Sales in the Proposed Uniform Commercial Code, Williston, S. (1950). Harvard Law Review, 63(4), 561-588.
- A short history of the preparation and enactment of the Uniform Commercial Code, Schnader, W. A. (1967). U. Miami L. Rev., 22, 1.
- Uniform Commercial Code Methodology, Hawkland, W. D. (1962). U. Ill. LF, 291.
- The Good Faith Purchase Idea and the Uniform Commercial Code: Confessions of a Repentant Draftsman, Gilmore, G. (1980). Ga. L. Rev., 15, 605.
- Remedies for Breach of Contracts Relating to the Sale of Goods Under the Uniform Commercial Code: A Roadmap for Article Two, Peters, E. A. (1963). The Yale Law Journal, 73(2), 199-287.
- Proceeds Under the Uniform Commercial Code, Henson, R. D. (1965). Colum. L. Rev., 65, 232.