Uniform Commercial Code

The Uniform Commercial Code, or UCC, is considered the model rules governing the sale of goods between merchants, and between merchants and consumers. The UCC contains nine major sections known as Articles: They Include:

Article 1: General Provisions

Article 2: Sales And Leases

Article 3: Negotiable Instruments

Article 4: Bank Deposits, Collections, &Transfers

Article 5: Letters of Credit

Article 6: Bulk Transfers/Bulk Sales

Article 7: Documents of Title

Article 8: Investment Securities

Article 9: Secured Transactions

« Back to Glossary Index

Leave a Comment

Your email address will not be published. Required fields are marked *