Topic

The Uniform Commercial Code (UCC)

Instructions

Read pages 275-280 of Legal Environment of Business.

Consider the following as you read:

It is important to have codified and easy to follow rules governing the sale of goods and leases. The Uniform Commercial Code (UCC) does this.
Think about how the UCC helps keep business moving forward.

Answer preview

The Uniform Commercial Code (UCC) is one of the biggest bodies of regulations governing commercial business transactions. Notably, UCC has nine articles with a set of legislations that govern the leases of products, sale of goods, bank deposits, negotiable instruments, letters of credit, fund transfers, warehouse receipts, investment securities, bulk sales and secured transactions. It is clear that UCC has done recommendable work of assisting businesses to move forward and realize their full potential.

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