Preview

Ucc-Cisg

Good Essays
Open Document
Open Document
1642 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Ucc-Cisg
UCC and CISG

The Uniform Commercial Code (UCC), first published in 1952, is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The goal of harmonizing state law is important because of the prevalence of commercial transactions that extend beyond one state. For example, goods may be manufactured in
State A, warehoused in State B, sold from State C and delivered in State D. The UCC therefore achieved the goal of substantial uniformity in commercial laws and, at the same time, allowed the states the flexibility to meet local circumstances by modifying the UCC's text as enacted in each state. The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property)

Firm offers (offers that cannot be revoked for a set time) are valid without consideration and irrevocable for time stated (or up to 3 months) and must be signed.

Offer to buy goods for “prompt shipment” invites acceptance by either prompt shipment or a prompt promise to ship. Therefore, this offer is not strictly unilateral.
However, this “acceptance by performance” does not even have to be by conforming goods. Consideration -- modifications without consideration may be acceptable in a contract for the sale of goods.

Failure to state price—in a contract for the sale of goods, the failure to state a price will NOT prevent the formation of a contract if the parties’ original intent was to form a contract. A reasonable price will be determined by the court.

Assignments -- a requirements contract can be assigned if the quantity required by the assignee is not unreasonably disproportionate to original quantity

In 1980 the United Nations Convention on Contracts for the International Sale of Goods
('the CISG') was introduced to create international certainty and

You May Also Find These Documents Helpful

  • Powerful Essays

    (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
  • Good Essays

    Issue: The issue is whether the objective circumstances indicate that the parties intended to form a contract…

    • 981 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    LP 5.1

    • 351 Words
    • 2 Pages

    UCC Article 2 Section 2-301 states the obligation of the seller is to transfer and deliver and the buyer is to accept and pay in accordance to the contract.…

    • 351 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    15. This Agreement will be governed by and construed in accordance with the laws of the State of Michigan, including the Uniform Commercial Code and the Seller and the Purchaser hereby attorn to the jurisdiction of the Courts of the State of Michigan.…

    • 912 Words
    • 4 Pages
    Good Essays
  • Good Essays

    EGT1 Task 3

    • 1565 Words
    • 7 Pages

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

    • 1565 Words
    • 7 Pages
    Good Essays
  • Good Essays

    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
  • Powerful Essays

    Chapter 19 Law

    • 3472 Words
    • 14 Pages

    Contracts that obligate a buyer to purchase a seller’s output or all the buyer’s requirements are governed by the UCC.…

    • 3472 Words
    • 14 Pages
    Powerful Essays
  • Satisfactory Essays

    The Uniform Commercial Code (UCC) is govern commercial transaction through modernized laws. The primary purpose of the UCC is clarify and unify commercial laws.…

    • 152 Words
    • 1 Page
    Satisfactory Essays
  • Better Essays

    Business Law

    • 2266 Words
    • 10 Pages

    Fullerton, James D. (nd) Uniform Commercial Code Sale of Goods. (Retrieved November 4, 2011) http://www.fullertonlaw.com…

    • 2266 Words
    • 10 Pages
    Better Essays
  • Satisfactory Essays

    Contract and Goods

    • 8844 Words
    • 39 Pages

    2. Law of sale of goods codified in the Art.2 of the UCC is modified to accommodate current practices of the merchants.…

    • 8844 Words
    • 39 Pages
    Satisfactory Essays
  • Good Essays

    Lwc1 Study Plan

    • 8919 Words
    • 36 Pages

    The parties do not formally agree, but their words and conduct indicate an intention to create a contract.…

    • 8919 Words
    • 36 Pages
    Good Essays
  • Powerful Essays

    Regulations made under the act have the same scope and provide the potential to achieve clear and uniform standards. Examples of such regulations are:…

    • 2046 Words
    • 9 Pages
    Powerful Essays
  • Powerful Essays

    paralegal

    • 1529 Words
    • 6 Pages

    5. How many articles are presently included in the Uniform Commercial code and which article s devoted to the law of sales?…

    • 1529 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    Uniform Commercial Code

    • 606 Words
    • 3 Pages

    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
  • Powerful Essays

    |1.1 |Select two key pieces of legislation, one Regulation and one COP (Code of practice) and summarise the key aspects of |…

    • 1640 Words
    • 7 Pages
    Powerful Essays