Uniform Commercial Code

Definition of "Uniform Commercial Code"
  1. A collection of laws adopted across all states, overseeing commercial transactions, encompassing areas like sales, warranties, negotiable instruments, and loans secured by personal property
How to use "Uniform Commercial Code" in a sentence
  1. The Uniform Commercial Code ensures standardization in commercial transactions across states.
  2. Under the Uniform Commercial Code, the rules for obtaining a loan secured by personal property are standardized.
  3. The sale of goods across state lines is governed by the Uniform Commercial Code.

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