Uniform Commercial Code
The Uniform Commercial Code generally regulates commerce or trade on a national basis. Do you think that the UCC would directly or indirectly have any effect on international commerce? If so, what effect on international or worldwide commerce do you think the UCC might cause? In order to give an answer one must understand that in the world trade industry everything ties together. The UCC might just be a State side regulatory law system, but it has to affect the international world too; this might not be direct, but the effects have to exist. When US companies trade outside of the US, their regulations affect the international buyer. Payments, contracts and agreements that are drawn up under the UCC for companies that wish to conduct businesses internationally have affected international businesses with the UCC. Now this in no way saying this is a bad thing. It just means that the same rules we use have to be used by companies that trade within the US. Think of credit cards, they use the UCC in order to keep getting paid from the card holder as well as the card holder keeping his or her rights as an individual or company. Without a clear set of regulatory laws in place like the UCC big companies and one-man operations would not have the rights and protections they have nor would the consumers have rights and protections.
EditorialBoard. (2012). 7. Introduction to Business Law (pp. 148-168). Schaumburg, IL: Words of Wisdom, LLC..