Uniform Commercial Code

1. Uniform Commercial Code

UNIFORM COMMERCIAL CODE
Пухаев Абака Муслимович
2 курс ЮЗИ

2.

Plan:
1. The definition UCC
2.The main goals
4. Conclusion

3. The Uniform Commercial Code (UCC) is a set of laws that provide legal rules and regulations governing commercial or business

The
definition
THE UNIFORM COMMERCIAL CODE (UCC) IS A SET OF LAWS THAT
PROVIDE LEGAL RULES AND REGULATIONS GOVERNING COMMERCIAL OR
BUSINESS DEALINGS AND TRANSACTIONS.

4. The main goals

THE MAIN GOALS
regulates the transfer or sale of
personal property
does not address
dealings in real
property
UCC
standardizes
business laws in
the U.S. and seeks
uniformity
amongst the states

5. The UCC was developed to address two growing problems in U.S. business:

THE UCC WAS DEVELOPED TO ADDRESS TWO
GROWING PROBLEMS IN U.S. BUSINESS:
the increasingly
unmanageable legal
and contractual
requirements of
doing business -
differences in state
laws that made it
difficult for
business people
from different
states to do
business with one
another

6. Conclusion

CONCLUSION
The UCC allows people to make contracts according
to their needs.
However, the code requires the filling of missing
provisions with UCC provisions where parties to the
agreement are silent or fail to include in the
agreement.
The code imposes uniformity and streamlining in
transactions like processing of checks, notes, and
other routine commercial paper.
The code also provides different provisions depending
on whether one is a merchant or a consumer. This is
because merchants are more familiar with commerce
than individual consumers.
The UCC also minimizes the use of legal formalities
while making business contracts. This helps in
reducing intervention by lawyers.

7. Thank you

THANK YOU