Statute
Uniform Commercial Code
278 published works
Consumer Financial Services Law Monitor
Amici Tell Fourth Circuit that District Court Ruling Imperils Funds Transfer Laws
By Keith J. Barnett, Carlin McCrory, Mary C. Zinsner
On October 17, the Clearing House Association, LLC (Association) and National Automated Clearing House Association (Nacha) joined forces to submit an amicus brief in support of a credit union held…
The HB Blog
The Importance of Choice of Law Provisions in Sales Contracts
By Jihee Ahn
Many companies frequently make a crucial mistake when it comes to specifying the governing law in their contracts. They often intend for one jurisdiction’s law to apply but inadvertently write…
The Open Road Automotive Law Blog
Clarifying Requirements Contracts and Purchase Order Enforceability in Michigan: Insights From the Michigan Supreme Court
By Laura C. Baucus, Lisa Brown
What constitutes a requirements contract in Michigan under the Uniform Commercial Code? Will your purchase orders be enforceable as a contract? On July 11, 2023, the Michigan Supreme Court issued…
Consumer Finance Monitor
Pennsylvania federal district court rules alleged violation of state’s Motor Vehicle Sales Finance Act creates claim under Uniform Commercial Code
By John L. Culhane, Jr., Brian Turetsky
A Pennsylvania federal district court has ruled that the plaintiffs’ allegations that notices of repossession sent by a bank failed to comply with the state’s Motor Vehicle Sales Finance Act…
Credit Chronometer
Perfecting Digital Assets: There’s No Control Without Power
By Joseph Cioffi, Adam M. Levy
In 2022, the Uniform Law Commission adopted new amendments to the model Uniform Commercial Code ("UCC") to address cryptocurrency transactions, including secured lending involving digital assets. These amendments have been…
Indiana Commercial Foreclosure Law
Indiana’s UCC Financing Statement Termination Obligations
This follows-up my post: Indiana’s Mortgage Release Obligations. Today’s post relates, not to real property mortgage liens, but rather to personal property Uniform Commercial Code liens (security interests). Duty to…
ContractsProf Blog
Are Human Embryos Goods?
The UCC's definition of goods seems so simple. Goods are anything moveable at the time identified to the contract. And then there are some exceptions and special rules, which for…
Manufacturing Industry Advisor
Quantity Requirements Under UCC Art. 2: Let’s Ensure Supply
By Eugenia Wang
In the business world, many companies enter into long-term contracts with respect to high volume, expensive, or essential transactions. A long-term contract is certainly beneficial for these types of transactions,…
Retained Interest
The UCC Amendments and Their Impact on Negotiable Instruments in Trade Finance
By Barbara M. Goodstein, Rebecca O. Fruchtman, Tameem A. Zainulbhai
In its current form, the Uniform Commercial Code (“UCC”) does little to accommodate emerging technologies such as cryptocurrencies and non-fungible tokens. In efforts to modernize and adapt the Uniform Commercial…
ContractsProf Blog
Saving Bitcoin (Yes, Really!): The 2022 Uniform Commercial Code Amendments
By Mark Burge
A great thing is happening in commercial law as I type these words: Musty corners of the Uniform Commercial Code are in the process of being brought up to date…