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.
Brian McCall | June 22, 2022 | Uniform Commercial Code
Below is the abstract for “How El Salvador Has Changed U.S. Law by a Bit: The Consequences for the UCC of Bitcoin Becoming Legal Tender,” available for download on SSRN. On June 8, 2021, the Congress of El Salvador passed a law that changed American commercial law....
Pauline Toboulidis | June 1, 2022 | Children and the Law, Conflict of Laws, Consumer Contracts, Copyright, Inside The ALI, Policing, Property, Sexual Assault, Student Sexual Misconduct, Torts: Miscellaneous Provisions, Torts: Remedies, Uniform Commercial Code
Last month, ALI membership met at the 2022 Annual Meeting to discuss and vote on 12 ALI project drafts. Below is a list of the projects by date presented to the ALI membership for discussion at the Meeting. Learn more about the actions taken at the Meeting here. All...
Seth C. Oranburg | February 9, 2022 | Uniform Commercial Code
Below is the abstract for “Machines and Contractual Intent,” available for download on SSRN. Machines are making contracts—law is not ready. This paper describes why machine-made contracts do not fit easily into the common law of contracts or the Uniform Commercial...
Pauline Toboulidis | January 25, 2022 | Conflict of Laws, Consumer Contracts, Copyright, Inside The ALI, Policing, Property, Sexual Assault, Student Sexual Misconduct, Torts: Miscellaneous Provisions, Uniform Commercial Code
At its meeting on January 20 and 21, 2022, the ALI Council reviewed and discussed Council Drafts of nine projects and approved drafts and portions of drafts as listed below.* Conflict of LawsThe Council approved the following material in Council Draft No. 6: §§...
Reade Ryan, Jr., Mark J. Shapiro, Bjorn Bjerke and Ashley Shan | January 11, 2022 | Uniform Commercial Code
The below is excerpted (citations omitted) from an article posted by Shearman & Sterling on December 20, 2021. The full article with citations is available here. Introduction The scope of the mandatory choice-of-law rule set forth in Uniform Commercial Code...
Kenneth C. Kettering | November 16, 2021 | Uniform Commercial Code
Below is the abstract for “Coordination of the Uniform Commercial Code and Common Law,” available for download on SSRN. Deciding whether an issue that is in the ambit of a statute should be resolved by reference to the statute alone, or whether other sources of law...
