Law 206 Ch. 8 - The Uniform Commercial Code
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The Uniform Commercial Code (UCC) provides a basic framework for commercial transactions. It aims to promote commerce by establishing guidelines for parties involved. The UCC covers important areas like contracts, sales, leases, and secured transactions. It allows parties to vary certain provisions by agreement and must be interpreted liberally. Obligations include acting in good faith, within a reasonable time period, and according to commercial practices. The UCC governs contracts for goods and sales, and provides remedies for issues like non-payment or defective goods. It also addresses secured transactions through security interests in property.
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The document is an ITC (International Trade Centre) model contract for an international commercial sale of goods. It provides a short version of the model contract that can be used by small firms for international sales transactions. The contract outlines the key terms including the parties to the agreement, description of goods, delivery terms, price, payment conditions, documents required, remedies for non-performance by the buyer or seller, lack of conformity of goods, transfer of property, and applicable law. The short version is intended to be a practical template covering the main rights and obligations in a concise manner for use in international commercial sales by small businesses.
Blaw7e 18
This document provides an overview of Articles 2 and 2A of the Uniform Commercial Code (UCC) which govern the formation of sales and lease contracts. It defines key terms like goods, merchants, sales, leases, offers, acceptance and statute of frauds. It also compares the UCC approach to contract formation and requirements to the common law of contracts.
International business transactions- Lectures notes part three part two
International business transactions- Lectures notes part three part two
International contracts
The document discusses key considerations for international contracts. It recommends having a formal, written contract to avoid misunderstandings. Standard elements of contracts are outlined like parties' obligations, communication methods, pricing, payment terms, and dispute resolution. International Chamber of Commerce guidelines called Incoterms are recommended for defining delivery obligations. The United Nations Convention on Contracts for International Sale of Goods provides regulations. Overall, the document stresses the importance of a well-drafted contract that considers legal advice to facilitate international trade transactions.
International Contracts Models
International Contracts Templates most commonly used in international business and trade. Contracts in four languages (English, Spanish, French and German) ready to use in Word Format.
International business law
The document discusses the World Trade Organization (WTO) and its impact on international contracts. It explains that the primary functions of the WTO are to negotiate agreements to reduce trade barriers and enforce commitments between member countries. It oversees agreements like GATT, GATS, and TRIPS. Key principles of the WTO include non-discrimination, reciprocity, transparency, and allowing tariffs as the only permissible form of protection. The document also discusses the European common market and competition law, international contracting law under Rome I, and the UN Convention on Contracts for the International Sale of Goods (CISG) which governs international sales contracts.
La3100 lp5 lecture
The Uniform Commercial Code (UCC) is a set of uniform laws crafted to promote consistency in commercial transactions. It has 9 articles covering various aspects of commercial law. Article 1 provides definitions and general principles. Article 2 governs sales of goods and related warranties. Article 3 governs negotiable instruments like checks and promissory notes. The UCC aims to regulate commercial transactions consistently across state lines and provide remedies for issues that may arise.
Law-Exchange.co.uk Powerpoint
The document discusses unfair terms in consumer contracts under the Unfair Terms in Consumer Contracts Regulations 1999 (UTCCR). It outlines types of terms that may be considered unfair, including terms excluding liability and terms allowing sellers to alter contracts without valid reason. It explains that core terms are valid if in plain language, while other terms must pass a fairness test. Qualified bodies can apply to stop unfair terms. The Director General of Fair Trading supervises the regulations. Courts now interpret legislation rather than protect parties with weak bargaining power. Reform proposals included consolidating legislation and introducing protection for small businesses.
Teaching slides for commercial law
This document provides a general introduction to the course on the sale of goods. It discusses the importance and scope of commercial law. It notes key subjects covered like business associations, partnerships, and sale of goods. It defines commercial law and identifies sources like contracts, custom, legislation, and international conventions. The document outlines the historical development of sale of goods law in Kenya and discusses key concepts in the sale of goods act like parties, transfer of property, price, and performance of contracts. It distinguishes sale of goods from other contracts and identifies implied conditions in sale of goods.
2차시 제2장 국제매매계약 총칙과 계약성립
1. The document discusses the Convention on Contracts for the International Sale of Goods (CISG).
2. The CISG aims to promote international trade by providing uniform rules for international sales contracts. It governs the formation of contracts and the obligations of buyers and sellers.
3. Most major trading partners have ratified the CISG, making it applicable to sales contracts between parties from different contracting states. The CISG aims to balance the different legal systems of member states.
134CHAPTER 7 Formation and Modification of the Sales Co.docx
134
CHAPTER 7:
Formation and Modification of the Sales Contract
CHAPTER 8:
Performance of the Sales Contract and Risk of Loss
CHAPTER 9:
Warranties and Remedies for Breach
CHAPTER 10:
Commercial Paper
Unit III
The Uniform Commercial Code
rog80328_07_c07_134-156.indd 134 9/20/16 11:11 AM
© 2016 Bridgepoint Education, Inc. All rights reserved. Not for resale or redistribution.
135
One of the drawbacks of our federalist system of government is that there can be signifi-cant differences in the law from state to state and between the states and the federal government. In general, differences in state laws present only minor inconveniences
to individuals and businesses that need to be aware of these differences when conducting
business across state lines. There are, however, some areas in the law that are of particular
importance to business and in which even small variations in the law from one state to another
can have a very negative effect. Because of this, the National Conference of Commissioners on
Uniform State Laws (NCCUSL) drafted the Uniform Commercial Code (UCC) in an attempt
to unify state laws affecting commerce into a single code that all states could adopt to make
interstate commerce easier and more efficient. As a result of this concerted effort by some of
this country’s leading legal experts, the UCC was enacted in whole or in part with only small
changes by the legislatures of all states. While the UCC represents a significant effort toward a
uniform national law, it should be remembered that there will still be variations from state to
state, as different courts interpret the provisions of the statute.
The articles of the UCC are as follows:
Article 1 General Provisions
Article 2 Sales
Article 2A Leases
Article 3 Commercial Paper
Article 4 Bank Deposits and Collections
Article 5 Letters of Credit
Article 6 Bulk Transfers
Article 7 Warehouse Receipts, Bills of Lading, and Other Documents of Title
Article 8 Investment Securities
Article 9 Secured Transactions; Sale of Accounts and Chattel Paper
A complete treatment of the UCC is not possible here (the full text of the UCC is nearly 1,000
pages), but in this unit we will explore the most notable provisions of Articles 2 and 3 (Sales
and Commercial Paper) that together make up the single most important statute in the field
of business law.
In Unit 2, we examined the basic elements of the law of contracts and explored its appli-
cation in a wide variety of business contexts. In the first three chapters of this unit, we
will examine significant statutory modifications to the common law of contracts brought
about by Article 2 of the Uniform Commercial Code with respect to contracts for the sale
of goods. In Chapter 10, we will explore the law of commercial paper under the Uniform
Commercial Code.
rog80328_07_c07_134-156.indd 135 9/20/16 11:11 AM
© 2016 Bridgepoint Education, Inc. All rights reserved. Not for resale or redistri.
Bba 3210, business law 1 course learning outcomes for unit
This document outlines key concepts from Unit VI of a business law course, including:
1. The Uniform Commercial Code (UCC) standardizes commercial law, including contract formation and sales performance.
2. Article 2 of the UCC governs sales contracts, addressing formation, performance, warranties, and remedies.
3. Key concepts in Article 2 include the definition of goods, merchant status, and modifications to elements of contract formation like offers, acceptances, and the "battle of the forms."
The International Comparative Legal Guide to Securitisation 2016 Edition
The ninth edition of The International Comparative Legal Guide to Securitisation is now available.
This guide provides the international practitioner and in-house counsel with a comprehensive worldwide legal analysis of the laws and regulations of securitisation in 34 jurisdictions.
The Italian chapter is written by Andrea Pinto e Vittorio Salvadori di Wiesenhoff, leading securitisation lawyers of K&L Gates Milan.
Incoterms 2010 eng
The document discusses key changes and updates made in Incoterms® 2010, which are a set of international rules for interpreting commonly used trade terms. Some notable changes include reducing the number of rules from 13 to 11, classifying the rules based on mode of transport rather than letters, recognizing electronic communication, clarifying insurance and security obligations, and addressing issues like multiple terminal handling charges. When using the updated Incoterms® 2010, parties must carefully read the rules and specify places as precisely as possible to accurately allocate duties and avoid unexpected obligations.
Business law
1. The document discusses various topics related to business law including legal relationships between businesses and consumers, consumer credit agreements, agency law, monopolies and anti-competitive practices, and intellectual property rights.
2. It provides details on implied terms in sales of goods, statutory provisions around transfer of property, and remedies for buyers and sellers. It also differentiates types of credit agreements and examines rights and duties of agents.
3. The document outlines UK legislation around monopolies and anti-competitive practices. It examines the role of the Competition and Markets Authority and defines a dominant position in the EU common market. It also discusses exemptions to anti-competitive practices.
Structure cisg
This document provides an overview of the structure and organization of the United Nations Convention on Contracts for the International Sale of Goods (CISG). It describes the four main parts of the CISG, including Part I which addresses the sphere of application and general provisions. Part I is divided into two chapters, with Chapter I covering articles 1-6 and addressing the scope and applicability of the CISG, including definitions of key terms like "place of business" and the internationality requirement.
UCC_vs_CISG
The document discusses the differences between the United Nations Convention on Contracts for the International Sale of Goods (CISG) and the Uniform Commercial Code (UCC) as they relate to international contracts for the sale of goods. The CISG aims to promote uniformity and predictability in international trade. It will apply to contracts between parties from different countries, unless the parties opt out and choose to apply another body of law instead. In contrast, the UCC governs domestic contracts for the sale of goods in the US. There are substantive differences between the two in areas like contract formation, the statute of frauds, and the battle of the forms. Because of these differences and courts' inconsistent application of the CISG, the document
BRF- UNIT 2.pptx
The document summarizes key aspects of The Sale of Goods Act, 1930 in India. It defines a contract of sale as an agreement where the seller transfers property in goods to the buyer for a price. A contract of sale must have two parties, goods, a price, and a transfer of ownership. The document outlines conditions and warranties, exceptions to caveat emptor, transfer of ownership including by non-owners, performance of the contract by buyers and sellers, and the rights of unpaid sellers against goods and buyers.
Australian Consumer Law: defects, warranties and unfair contracts basil 120324
The document summarizes key changes to Australian consumer law regarding product defects, warranties and unfair contracts.
1) It replaces implied contractual terms with statutory consumer guarantees that clearly express consumer rights and remedies in understandable language.
2) The new guarantees include that goods must be of acceptable quality, fit for disclosed purpose, and match any descriptions. Services must be provided with due care and skill and within a reasonable time frame.
3) For major failures, consumers can choose a refund, repair or replacement. A major failure is one that a reasonable consumer would not have purchased the good knowing about. This is a higher standard than the previous merchantable quality requirement.
Similar to Law 206 Ch. 8 - The Uniform Commercial Code (20)
International business transactions- Lectures notes part three part two
International business transactions- Lectures notes part three part two
134CHAPTER 7 Formation and Modification of the Sales Co.docx
134CHAPTER 7 Formation and Modification of the Sales Co.docx
Bba 3210, business law 1 course learning outcomes for unit
Bba 3210, business law 1 course learning outcomes for unit
The International Comparative Legal Guide to Securitisation 2016 Edition
The International Comparative Legal Guide to Securitisation 2016 Edition
Australian Consumer Law: defects, warranties and unfair contracts basil 120324
Australian Consumer Law: defects, warranties and unfair contracts basil 120324
More from rharrisonaz
Ch02(1)
This chapter will define an offer, identify the three conditions necessary for a valid offer, explain the requirement of certainty in offer terms, list the four required offer terms, discuss the Uniform Commercial Code (UCC) and its impact on traditional contract law offers, define output contracts, apply offer concepts to contract clauses, demonstrate how to draft a basic offer, and indicate the difference between contracting with a public or merchant party. An offer is a proposal to enter a contract that must manifest intent, be communicated, and have certain definite terms including price, subject matter, parties, and performance time. The UCC codifies contractual sale of goods concepts.
Ch03(2)
This chapter discusses key concepts related to acceptance of contracts including: defining acceptance and differentiating it from a counteroffer; explaining the mirror image rule and effect of silence on offers; discussing who can accept offers and how bilateral and unilateral offers are accepted; and explaining revocation of offers and the impact of rejection, termination, and mailbox rules.
Ch04(1)
This chapter defines key concepts related to contractual consideration including defining consideration, mutuality of consideration, benefits conferred versus detriments incurred. It will also discuss exceptions to consideration such as pre-existing duty, and the impact of the Uniform Commercial Code. Additional topics covered include promissory estoppel, accord and satisfaction, and how one becomes a guarantor.
Ch05(1)
This chapter discusses the concepts of legality and contractual capacity. It defines two types of illegal contracts: malum in se, which are inherently against public policy; and malum prohibitum, which violate minor laws but are not morally reprehensible. The chapter lists the types of contracts covered by the Statute of Frauds and explains usury. It differentiates infants from minors and discusses how alcohol and drugs can impact contractual capacity.
Ch06(1)
This chapter defines key concepts related to contractual intent such as fraud, misrepresentation, duress, undue influence, and mistakes. It differentiates fraud from misrepresentation and lists the three types of duress. It also discusses contracts of adhesion and how mistakes, whether mutual or unilateral, can impact contract formation and enforceability. The overall intent is to explain how these concepts can be applied to potentially void contracts.
Ch07(1)
This chapter discusses key concepts related to contract law including:
- The distinction between covenants and conditions
- Rules for interpreting contracts including the parol evidence rule
- The types of contracts governed by the Statute of Frauds such as real estate contracts, marriage agreements, contracts lasting over a year
- Conditions precedent, concurrent and subsequent and how conditions are created
- Analyzing contracts to understand parties' rights and obligations
Ch09(1)
This document discusses various types of third party contracts, including third party creditor beneficiary contracts which are intended to extinguish a debt, and third party donee beneficiary contracts which are intended to confer a gift. It also defines contractual assignments and differentiates between assignments, delegations, and novations. Key topics covered include the rights of intended versus incidental beneficiaries, how assignments affect original parties, and situations where a gratuitous assignment becomes irrevocable.
Ch10(1)
This chapter discusses various ways that contractual obligations can be discharged or excused, including performance, breach of contract, agreement of parties, impossibility of performance, frustration of purpose, and death or destruction of subject matter. It will define key concepts like anticipatory breach, tendering performance, material and minor breaches, and mutual rescission. It will also differentiate between conditions that excuse performance and those that discharge obligations.
Ch11
This document provides an overview of legal and equitable remedies for breaches of contract. It defines compensatory, punitive, consequential, and liquidated damages as legal remedies. It also discusses injunctions, specific performance, rescission, restitution, and reformation as equitable remedies, as well as quasi-contractual remedies and the effect of waivers.
Ch03
This chapter discusses key concepts related to acceptance and offer in contract law, including: defining acceptance; differentiating acceptance from counter-offers; explaining who can accept an offer and how offers are accepted; discussing the impact of the mailbox rule and methods of revoking or terminating an offer. It also covers the mirror image rule and how silence affects an offer.
Ch02
This chapter will define offer and identify the three conditions necessary for a valid offer: 1) the offeror must manifest present contractual intent, 2) the offer must be communicated to the offeree, and 3) the offer must be certain and definite in its terms. It will also list the four required terms in a valid offer: price, subject matter, parties, and time of performance. Finally, it will discuss the impact of the Uniform Commercial Code on traditional legal principles of a contractual offer.
Ch 20 Appeals Process
The document summarizes the appellate and postconviction relief processes in the US criminal justice system. It describes the different levels of appellate courts, from intermediate appellate courts to courts of last resort. It then explains the various stages of the appellate process, including filing notices of appeal, submitting briefs, oral arguments, and issuing opinions. The document also discusses options for postconviction relief like habeas corpus petitions that allow prisoners to challenge their convictions after exhausting appeals. It provides an example of the lengthy appeals process in the Robert Glen Coe death penalty case over two decades.
Ch 19 Sentencing and Punishment
The document discusses the history and justifications of criminal punishment including retribution, deterrence, incapacitation, and rehabilitation. It then covers sentencing alternatives and factors considered in sentencing such as felony vs misdemeanor crimes, presentence reports, and truth-in-sentencing laws. Finally, it briefly outlines probation, parole, the growth of the US prison population, and characteristics of those incarcerated.
Ch 18 Criminal Trial
This document summarizes key aspects of criminal trial procedures in the United States, including common pretrial motions, Sixth Amendment rights of defendants, the right to a jury or bench trial, jury selection processes, rules of evidence, order of trial procedures such as opening statements and presenting the prosecution and defense cases, jury instructions, closing arguments, jury deliberations, and potential outcomes such as jury verdicts, hung juries, and jury nullification.
Ch 17 Pretrial Process
The document summarizes key aspects of the pretrial process in criminal cases, including:
1) Summary trials for minor offenses where a jury is not required if incarceration is less than 6 months. Defendants often plead guilty without counsel.
2) Elaborate pretrial procedures for felonies including initial appearance, grand jury, preliminary hearing, and arraignment where a plea is entered.
3) Most cases are resolved pretrial, with about 25% resulting in convictions as cases attrite through the system.
Ch 16 Arrest, Interrogation & ID
The document discusses various topics related to arrest, interrogation, and identification procedures by law enforcement. It covers the definition of arrest and when an arrest is required to have a warrant. It also discusses warrantless arrests, the use of force during arrests, and several high-profile cases involving alleged police brutality. The document also summarizes Supreme Court rulings on the use of force, interrogations, Miranda warnings, and police identification procedures such as lineups, showups, and photo arrays.
Ch 15 Search and Seizure
The Fourth Amendment protects against unreasonable searches and seizures. It was incorporated against the states through the Fourteenth Amendment. There is no reasonable expectation of privacy in open fields, abandoned property, or areas impliedly open to the public. Searches generally require a warrant based on probable cause, though there are exceptions such as consent, exigent circumstances, and searches incident to arrest. Evidence obtained in violation of the Fourth Amendment is generally inadmissible due to the exclusionary rule.
Ch 14 Criminal Responsibility and Defenses
The document discusses criminal responsibility and defenses. It covers topics like insanity, intoxication, infancy, justification, excuse, use of force defenses like self-defense, and reforms to insanity defense laws. Key cases discussed include M'Naghten, Durham test, and Hinckley case which led to reforms placing burden of proof on defendants for insanity pleas.
Ch 13 Offenses Against Justice & Public Admin
The document discusses various offenses against justice and public administration. It covers common law misdemeanors such as bribery, perjury, resisting arrest, obstruction of justice, compounding a crime, escape, and contempt. It also examines modern statutes that have expanded on these offenses. Bribery statutes now cover influencing any public official, not just those related to justice. Perjury requires knowingly making a false statement under oath that is material to the matter. Obstruction of justice encompasses any acts that impede police or justice.
Ch 12 Public Order, Safety & Security
The document summarizes various criminal offenses related to public order, safety, and security. It discusses common law and statutory definitions of unlawful assembly, riot, and disorderly conduct. It also covers offenses such as vagrancy, loitering, curfews, panhandling, traffic violations, weapons possession, immigration violations, and crimes against national security like treason, sabotage, espionage, sedition, terrorism and weapons of mass destruction. Key Supreme Court cases addressing some of these issues are also summarized.
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Law 206 Ch. 8 - The Uniform Commercial Code
- 1. Chapter 8 THE UNIFORM COMMERCIAL CODE In this chapter you will: Explain the background of the Uniform Commercial Code Discuss the basic guidelines to be used when applying the UCC Indicate the obligations imposed by Article I of the UCC Discuss the concept of custom and usage as it applies to contracts Distinguish between contracts for goods and contracts for services Define the UCC concept of merchant Discuss the UCC express and implied warranties List and discuss conditional sales contracts List and discuss shipment contracts Discuss the various remedies afforded parties under the UCC Define a secured transaction Indicate the requirements to create a security interest Define a financing statement
- 2. Uniform Commercial Code Major statutory basis of several important areas of contract law. The UCC was created to promote commerce and to establish certain basic guidelines for those parties involved in commercial transactions.
- 3. Basic Guidelines of Article I The law of the state applies unless otherwise superseded by the UCC The parties to a contract may, by their agreement, vary the provisions of the Code The UCC is to be liberally construed
- 4. Obligations Imposed by Article I To perform in “good faith”–honesty in fact To perform in a “reasonable time,” “reasonableness” to be determined by the facts and circumstances of each situation To perform according to past business dealings and practices (custom and usage)
- 5. Basic Guidelines of Article II, Sales The type of contracts that are governed by the UCC Specific contractual provisions regulated by the Code covering warranties and risk of loss Certain remedies that the contracting parties may be entitled to that differ from the general contractual remedies
- 6. Types of Contracts Covered by Article II Contracts for the sale of goods Contracts for the lease of goods Contracts between merchants
- 7. Remedies Available under Article II Remedies available to Seller Withhold delivery Stop delivery Reclaim goods from insolvent buyer Remedies available to Buyer Cover Replevin Revocation Claim goods from insolvent seller
- 8. Article II-A Leases Many jurisdictions have added a new subsection to Article II to deal with the lease of goods.
- 9. Article IX Secured Transactions A secured transaction is any transaction, regardless of form, that is intended to create a security interest in personal property or fixtures, including tangible goods, intangibles, and documents.
- 10. Requirements to Create a Security Interest There must be a security agreement There must be attachment There must be perfection