The Uniform Commercial Code
A joint project of ALI and the Uniform Law Commission, the Uniform Commercial Code (UCC) was promulgated to harmonize the law of commercial transactions.
The UCC is a comprehensive set of laws governing commercial transactions in the United States. It is a uniform code addressed to legislatures with a view toward legislative enactment and written in prescriptive statutory language. The UCC is a modernization of various statutes relating to commercial transactions including sales, leases, negotiable instruments, bank deposits and collections, funds transfers, letters of credit, bulk sales, documents of title, investment securities, and secured transactions.
Updated regularly, the UCC is maintained by the Permanent Editorial Board for the Uniform Commercial Code (PEB). The PEB, a joint committee of ALI and the Uniform Law Commission, discourages nonuniform amendments or additions to the UCC by the states, assists in attaining and maintaining uniformity in state statutes governing commercial transactions, and monitors the law of commercial transactions for needed modernization or other improvement.
Diane Lourdes Dick, Christopher K. Odinet and Andrea Tosato | May 16, 2024 | Uniform Commercial Code
Below is the abstract for “Debt Tokens” available for download on SSRN. The worlds of crypto and bankruptcy have collided. Once-prominent, fast-growing, and even politically influential platforms for trading cryptocurrencies have imploded spectacularly. Gone are the...
Pauline Toboulidis | November 21, 2023 | Uniform Commercial Code
ALI and UCC Permanent Editorial Board members Steven O. Weise and Edwin E. Smith and UCC Permanent Editorial Board member Carla L. Reyes present the ALI CLE Course New UCC Article 12: Applying the Rules to Practice to discuss the new UCC Article 12, which outlines...
Christopher K. Odinet and Andrea Tosato | July 3, 2023 | Uniform Commercial Code
Below is the abstract for “Floating Liens Over Crypto-in-Commerce,” available for download on SSRN. Commercial law and crypto are colliding. Against the backdrop of explosive growth (and discord) in the digital asset market, there has been a series of recent revisions...
Pauline Toboulidis | August 18, 2022 | Uniform Commercial Code
In 2019, The American Law Institute and the Uniform Law Commission formed a joint committee to review the Uniform Commercial Code with a view to recommending amendments or revisions to accommodate emerged and emerging technological developments. These amendments...
Brian McCall | July 28, 2022 | Uniform Commercial Code
In my recently published article, How El Salvador Has Changed U.S. Law by a Bit: The Consequences for the UCC of Bitcoin Becoming Legal Tender,1 I described the consequences for the UCC of El Salvador declaring Bitcoin to be an authorized currency. I descried the...
Pauline Toboulidis | July 22, 2022 | Uniform Commercial Code
The American Law Institute and the Uniform Law Commission formed a joint committee in 2019 to review the Uniform Commercial Code with a view to recommending amendments or revisions to accommodate emerged and emerging technological developments. At the 2022 ALI Annual...
