Uniform Commercial Code - Law Dictionary Search Results
uniform commercial code
Matched in: Term uniform commercial code
good
negotiable instruments usually used in pl. : as a pl : all things under section 2-105 of the Uniform Commercial Code that are movable at the time of identification to the contract for sale other than the money that … be paid, investment securities, and choses in action b pl : all things under section 9-104 of the Uniform Commercial Code that are movable at the time that a security interest in them attaches or that are fixtures but
cancel
marking through or otherwise marring the words or signature of NOTE: As stated in section 3-604 of the Uniform Commercial Code, a party that is entitled to enforce a negotiable instrument may cancel the instrument, whether or not for … letter of credit) [when an issuer wrongfully s or otherwise repudiates a credit before presentment of a draft "Uniform Commercial Code"] 2 : to put an end to (a contract): as a : to end (a contract) by discharging
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cover
seller fails to fulfill the contract [the buyer is always free to choose between and damages for nondelivery "Uniform Commercial Code"] ;also : the substituted goods NOTE: Under the Uniform Commercial Code, when a seller does not perform on … to choose between and damages for nondelivery "Uniform Commercial Code"] ;also : the substituted goods NOTE: Under the Uniform Commercial Code, when a seller does not perform on a contract, the buyer has the option of covering, with the
financing statement
debt and that is filed to provide notice to other creditors of the security interest see also perfect Uniform Commercial Code in the Important Laws section compare financial statement NOTE: Under Article 9 of the Uniform Commercial Code, a … perfect Uniform Commercial Code in the Important Laws section compare financial statement NOTE: Under Article 9 of the Uniform Commercial Code, a financing statement must 1) give the names of the debtor and the secured party, 2) be signed
lease
is made see also sublease compare easement, license security interest at interest, tenancy NOTE: Article 2A of the Uniform Commercial Code, which governs leases where adopted, defines lease as “a transfer of the right to possession and use of … goods from a supplier in accordance with the specifications of the lessee NOTE: Under section 2A-103 of the Uniform Commercial Code, before the lessor signs the lease or the lease becomes effective, the lessee must receive or approve of
law merchant
law that influenced modern commercial law and that are referred to as supplementing rules set down in the Uniform Commercial Code and in state codes
uniform act
Matched in: Term uniform act
commercial unit
Matched in: Term commercial unit
commercially reasonable
[a secured party after default may sell…the collateral in its then condition or following any commercially reasonable preparation "Uniform Commercial Code"]
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