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The official 2007 edition of the UCC. The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states, the District of Columbia, and the Territories of the United States.
Under UCC 3-104, a draft has been defined as a negotiable instrument in the form of an order. [2] [3] The person making the order is known as the drawer and the person specified in the order is called the drawee, as defined in the UCC 3–103. The party who creates the draft is called the maker, and the party who is ordered to pay is called the ...
In the United States, Articles 3 and 4 of the Uniform Commercial Code (UCC) govern the issuance and transfer of negotiable instruments, unless the instruments are governed by Article 8 of the UCC. The various state law enactments of UCC §§ 3–104(a) through (d) set forth the legal definition of what is and what is not a negotiable instrument ...
Nickname. Owls. Website. www.ucc.edu. Union College (formally known as Union College of Union County, NJ[ 3 ] and previously known as Union County College) is a public community college in Union County, in the U.S. state of New Jersey. It was founded in 1933 as the first of New Jersey's public community colleges. [ 4 ]
Holder in due course. In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and ...
A "Loudermill" hearing is part of the "due process" requirement that must be provided to a public employee prior to removing or impacting the employment property right (e.g. imposing severe discipline). The purpose of a "Loudermill hearing" is to provide an employee an opportunity to present their side of the story before the employer makes a ...
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law. It is one of the best-recognized and frequently cited legal treatises [ 1 ] in all of American jurisprudence.
The Supreme Court of New Jersey is the highest court in the U.S. state of New Jersey. In its current form, the Supreme Court of New Jersey is the final judicial authority on all cases in the state court system, including cases challenging the validity of state laws under the state constitution. It has the sole authority to prescribe and amend ...