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The Uniform Commercial Code (UCC) currently consists of the following articles: . Art. 1, General Provisions; Art. 2, Sales; Art. 2A, Leases; Art. 3, Negotiable ...
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.
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[2] Under the common law, extrinsic evidence such as course of dealing could be considered only if the written contract was ambiguous. [3] By contrast, "Under the UCC, the lack of facial ambiguity in the contract language is basically irrelevant to whether extrinsic evidence ought to be considered by the court as an initial matter." [4]
A UCC-1 financing statement (an abbreviation for Uniform Commercial Code-1) is a United States 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).
(1) the agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) the other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection. [1] UCC § 1-303(a).
In the United States, the perfect tender rule refers to the legal right for a buyer of goods to insist upon "perfect tender" by the seller. [1] The rule appears in the Uniform Commercial Code (UCC) § 2-601. [2] The UCC was designed "to simplify, clarify, modernize, and make uniform the law of commercial transactions." [3]
Warren M Anderson (November 29, 1921 – September 29, 2014) was an American businessman who was the chair and CEO of the Union Carbide Corporation (UCC) at the time of the Bhopal disaster in 1984. He was charged with manslaughter by Indian authorities.