Asked by
Saudia Gafoor
on Nov 01, 2024Verified
The Uniform Commercial Code (or UCC)is a model code designed to unify statutes governing almost all commercial transactions.
Uniform Commercial Code
A comprehensive set of laws governing commercial transactions in the United States, intended to standardize regulations across the states to facilitate easier interstate commerce.
Model Code
A systematically arranged collection or compendium of guidelines, rules, or regulations that is designed to serve as a template or reference for legal reform or drafting.
Commercial Transactions
Business dealings or the exchange of goods, services, or financial assets between parties in the marketplace.
- Understand the role of the Uniform Commercial Code in standardizing commercial transactions.
Verified Answer
MW
Learning Objectives
- Understand the role of the Uniform Commercial Code in standardizing commercial transactions.