Uniform Commercial Code

The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been promulgated to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.
Posts about Uniform Commercial Code
  • FACTOR THE FACTOR IN FACTORING

    … What is factoring? Have you heard this term used in the business context? Factoring is not uncommon in the business world. It comes up when a business is in need of cash (immediate cash flow) and sells/assigns money owed under accounts receivable to a third party known as a factor. The factor purchases the accounts receivable at a discount…

    Florida Construction Legal Updates- 10 readers -
  • Selling Goods Internationally and Strange Coincidences

    … of goods treaty in place. This is important because, while U.S. law and the Uniform Commercial Code allow for unilateral reductions in price, Indian law doesn’t have a similar provision (or at least not one I could find). As a result, what the buyer did might also breach the contract, which could hurt his chances of recovering from the seller even…

    Stephen Hoffman/ Hoffman Law Office, P.C.- 11 readers -
  • Sales of Goods and the Uniform Commercial Code

    … Sales of Goods and the Uniform Commercial Code If you’ve been reading this blog lately, you’ve probably noticed a theme developing with the Uniform Commercial Code. As the set of statutes that defines things like sales of goods, negotiable instruments, investment property, and security interests, it relates to much of what we consider “business…

    Stephen Hoffman/ Hoffman Law Office, P.C.- 6 readers -
  • Understanding and Perfecting Security Interests

    … Understanding and Perfecting Security Interests In my last post, I talked a little about what a security interest is: an interest in property that secures an obligation. In many cases, the obligation is a debt and the property securing it is related to the debt. When you borrow money to buy a house, the loan is secured by the real estate. If you…

    Stephen Hoffman/ Hoffman Law Office, P.C.- 9 readers -
  • Understanding Security Interests (Pt. 1)

    … Understanding Security Interests (Pt. 1) Practically everyone has loaned someone else money. Your kids, your friends, your family–all these people have likely enjoyed the benefits of your generosity. You’ve probably been on the receiving end of lenders before as well, in the nature of a mortgage, car loan, business financing, etc. But especially…

    Stephen Hoffman/ Hoffman Law Office, P.C.- 6 readers -
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