Uniform Commercial Code
The Uniform Commercial Code (UCC) is a set of laws designed to standardize commercial transactions across the United States. It covers various aspects of business dealings, including the sale of goods, leases, negotiable instruments, and secured transactions. By providing a consistent legal framework, the UCC aims to simplify and facilitate commerce between states.
Adopted in some form by all 50 states, the UCC helps businesses understand their rights and obligations in commercial transactions. It promotes fairness and predictability, making it easier for companies to operate across state lines. The UCC is regularly updated to reflect changes in business practices and technology.