Preview

Uniform Commercial Code Analysis

Satisfactory Essays
Open Document
Open Document
152 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Uniform Commercial Code Analysis
The Uniform Commercial Code (UCC) is govern commercial transaction through modernized laws. The primary purpose of the UCC is clarify and unify commercial laws.
UCC provides agreements made more controlled basis of the bargain. It defines operation rule and regulation to protect individual participants in a business contract. During business operations and signing of contracts, different parties tend to take advantage of the others. Thus, the UCC has established laws which prevent suppliers from charging independent customers on a discriminatory basis. However, it is undeniable that even under the functionality of the UCC; the business spirit of good faith is still existent. Clients and suppliers have trust and believe in good intentions, which
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Good Essays

    Mutual Mistake
    • 920 Words
    • 3 Pages

    Mutual Mistake

    Rivera, J. (2013, November 12). When does the UCC not apply to sale of goods? Legal Match. Retrieved from http://www.legalmatch.com/law-library/article/when-does-the-ucc-not-apply-to-a-sale-of-goods.html…

    • 920 Words
    • 3 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    BSHS 355 Week 4 Team Assignment (Social Security Act) 1
    • 553 Words
    • 4 Pages

    BSHS 355 Week 4 Team Assignment (Social Security Act) 1

    1. Under Article 2 of the UCC dealing with the sale of goods, a contract is usually enforceable even if which of the following terms is omitted:…

    • 553 Words
    • 4 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    LAW 421 GROCERY PRESENTATION TEAM C FINAL
    • 1103 Words
    • 8 Pages

    LAW 421 GROCERY PRESENTATION TEAM C FINAL

    (Jason)  Supplier, Inc. (Bill) Grocery Inc. Uniform Commercial Code UNIFORM COMMERCIAL CODE (UCC) Article 2 Common Law Contract • Common law applies to contracts originated and/or performed within a single jurisdiction or state. • Common law applies to the employment contract between Grocery, Inc. and both Tom and Jeff in the store • • • Article 2 "applies only to contracts for the sale of goods) Artisale of goods…

    • 1103 Words
    • 8 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Chapter 19 Law
    • 3472 Words
    • 14 Pages

    Chapter 19 Law

    The Uniform Commercial Code was prepared to simplify and modernize the rules of law governing commercial transactions.…

    • 3472 Words
    • 14 Pages
    Powerful Essays
    Read More
  • Good Essays

    EGT1 Task 3
    • 1565 Words
    • 7 Pages

    EGT1 Task 3

    Consumer legislation: all the business transactions and ordering details should be strictly following with the…

    • 1565 Words
    • 7 Pages
    Good Essays
    Read More
  • Good Essays

    MGMT 108 Case 2
    • 1251 Words
    • 1 Page

    MGMT 108 Case 2

    interest. Therefore, under Article 9 of the Uniform Commercial Code, buyers in the ordinary course of…

    • 1251 Words
    • 1 Page
    Good Essays
    Read More
  • Good Essays

    Sales Contract Vs Uniform Commercial Code (UCC)
    • 501 Words
    • 3 Pages

    Sales Contract Vs Uniform Commercial Code (UCC)

    In conclusion, sales contracts are similar to common law contracts, but may also have distinct differences in terms of offer, acceptance, and consideration. The UCC was established to ease commerce amongst the states and has been adopted by all, at least in-part. The code protects buyers and sellers in Article 2, Sales, and provides laws to be followed in the absence of specific terms set forth in a sales contract. Merchants and non-merchants conducting sales transactions, and having knowledge of the UCC, place themselves at less risk, and in a better position to avoid…

    • 501 Words
    • 3 Pages
    Good Essays
    Read More
  • Powerful Essays

    Unit 5 P1
    • 3273 Words
    • 15 Pages

    Unit 5 P1

    A business can only make money legitimately by making contracts with other businesses and customers. Businesses want to make the terms of these contracts the most favourable to themselves. All those involved in a contract need to know the exact terms on which it is based so that their rights and obligations are clearly understood and appropriate action can be taken if the contract is not implemented satisfactorily. Many businesses try to minimise their responsibilities under a contract, and the law attempts to balance the customer’s interests and gives consumers, in particular, rights in relation to business sellers and service providers.…

    • 3273 Words
    • 15 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    BUSI561 03 PetersenCaseStudy
    • 1265 Words
    • 4 Pages

    BUSI561 03 PetersenCaseStudy

    From a legal analysis, I believe that, as a party in an implied contract, “A contract established by the conduct of the parties” (Kubasek, Brennan, & Browne, 2015, p.241), I should continue to do business with Mr. Petersen as regular since doing otherwise would be grounds for breach of covenant, which is, “Violation of an express, or implied, condition of a contact to do or not do something” (BusinessDictionary.com, 2010). “In every contract there is an implied covenant that neither party shall do anything, which will have the effect of destroying or injuring the right of the other party, to receive the fruits of the contract, which means that in every conflict there exists an implied covenant of good faith and fair dealing” (Kirke La Shelle Company v. The Paul Armstrong Company et al., 1933). This same legal principle was confirmed in the legal case, Sons of Thunder, Inc., v. Borden, Inc. (1997).…

    • 1265 Words
    • 4 Pages
    Powerful Essays
    Read More
  • Satisfactory Essays

    The Uniform Commercial Code (UCC)
    • 723 Words
    • 3 Pages

    The Uniform Commercial Code (UCC)

    The Uniform Commercial Code (UCC), a comprehensive code addressing most aspects of commercial law, is generally viewed as one of the most important developments in American law. (Duke University School of Law, 2011). The UCC is a model code, so it does not have legal effect in a jurisdiction unless UCC provisions are enacted by the individual legislatures as statutes. Currently, the UCC (in whole or in part) has been enacted, with some local variation, in all 50 states, the District of Columbia, and the Virgin Islands. (Duke University School of Law, 2011).…

    • 723 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Good Essays

    Common Law Contracts
    • 1491 Words
    • 4 Pages

    Common Law Contracts

    Inc. Grocery, Uniform Commercial Code (UCC) Does Article 2 of the Uniform Commercial Code (UCC) apply to the contracts between Grocery, Inc. and its vendors? Do common law contracts apply? Explain your answer in detail. Your answer should compare and contrast law contracts and UCC Article 2 contracts. The Uniform Commercial Code (UCC) Article 2 applies only to contracts for the sale of goods. The definition of goods is defined as goods that are tangible, movable, or personal property. However, UCC Article 2 does not apply to real estate contracts or employment contracts. Common law contracts are for the sale of services or intangible items. UCC would only apply contracts that are established on actual sales and the way the sales are conducted. Contracts Grocery, Inc. would have with the vendors are normal contracts with only the shipping and payment terms using the UCC Article 2. Common law contracts are made between two individual parties. If Tom is willing to allow Jeff to work with him for the summer, then there are no contracts being affected. There would be no common law contract either due to Jeff is not of majority age. He is still considered a minor resulting in he cannot sign contracts and be held liable for such contracts. Grocery, Inc. Renovation Who Wins? Explain your answer. An injunction is a court order prohibiting the other party from performing a certain act. The petitioning party must show where if the injunction is not ordered, there will be irreparable damage or injury. A breach of contract occurs when one party fails to comply with a written legal contract. Specific performance is only considered when the act being performed is unique or rare. Grocery, Inc. must prove to where irreparable damage has occurred. This can be proven using the facts of the…

    • 1491 Words
    • 4 Pages
    Good Essays
    Read More
  • Satisfactory Essays

    Uniform Commercial Code
    • 606 Words
    • 3 Pages

    Uniform Commercial Code

    Harmonizing the conduct on what is considered the standard of a good business should be the goal for every business. For that reason a set of laws that provide legal rules and regulations that governs both the commercial or the business dealings and transactions is established under the Uniform Commercial Code. [1] Seeking uniformity amongst the states, the Uniform Commercial Code regulates the transfer or sale of personal property without dealing in real property. [2]…

    • 606 Words
    • 3 Pages
    Satisfactory Essays
    Read More
  • Powerful Essays

    Dynamic Code Analysis
    • 1554 Words
    • 7 Pages

    Dynamic Code Analysis

    While developing software applications, programmers have to make their programs reliable, and this considering a large number of scenarios and possible configurations. The dynamic code analysis can discover these types of errors and directly pinpoint to the vulnerable spots in the code.…

    • 1554 Words
    • 7 Pages
    Powerful Essays
    Read More
  • Better Essays

    Generally Accepted Accounting Principles and Revenue Recognition
    • 1088 Words
    • 5 Pages

    Generally Accepted Accounting Principles and Revenue Recognition

    The customers’ rights to return goods are considered to be types of customer acceptance provisions. These provisions permit customers to return goods or cancel agreements if their performance is not satisfactory. These provisions could also entail product assessments on a trial basis. Revenue recognition under the well recognized ‘SEC…

    • 1088 Words
    • 5 Pages
    Better Essays
    Read More
  • Satisfactory Essays

    Covering the Ucc
    • 258 Words
    • 2 Pages

    Covering the Ucc

    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.…

    • 258 Words
    • 2 Pages
    Satisfactory Essays
    Read More

Related Topics