The Uniform Commercial Code, commonly abbreviated UCC, is a model statute governing commercial transactions in the United States, drafted jointly by the Uniform Law Commission and the American Law Institute and first completed in 1952. It is not itself federal law and has no force until a state legislature enacts it; every state other than Louisiana, whose civil law tradition retains its own commercial provisions, has adopted the great majority of the UCC's articles, giving American commercial law an effective uniformity that a genuinely federal system does not otherwise produce. Its articles cover sales of goods, negotiable instruments, bank deposits and collections, letters of credit, bulk transfers, warehouse receipts and documents of title, investment securities, and secured transactions, and it has been revised repeatedly since 1952, most significantly Article 9 on secured transactions in 1998 and Article 1's general provisions in 2001, with individual states adopting revisions on their own timetables rather than simultaneously.
Facts
EraUnited States, first completed 1952, adopted by states from the 1950s onward 1 Promulgated ByThe Uniform Law Commission and the American Law Institute, as a model act for state adoption 1 Cross-Tradition Connections
Associated With
The Uniform Commercial Code is a defining instrument of U.S. commercial law.
In Legal System
The UCC operates within the common law jurisdictions of the United States and is interpreted by common law courts, though as a comprehensively drafted statute it is itself closer in form to a civil law code than to common law's traditional judge-made rules.
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