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Why the Uniform Commercial Code exists. Is it important?
Solution
The main purposes of the UCC are:
1. To simplify, clarify, and modernize the law governing commercial
transactions.
2. To permit the continued expansion of commercial transactions.
3. To provide for consistency in the law regarding the sale and financing of
personal property in the various jurisdictions (municipalities, counties, and
states).
Yes,It is important
THE UNIFORM COMMERCIAL CODE ( UCC )(A model statute covering such issues as
the sale of goods, credit, and bank transactions.)

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Why the Uniform Commercial Code exists- Is it important-SolutionThe ma (1).docx

  • 1. Why the Uniform Commercial Code exists. Is it important? Solution The main purposes of the UCC are: 1. To simplify, clarify, and modernize the law governing commercial transactions. 2. To permit the continued expansion of commercial transactions. 3. To provide for consistency in the law regarding the sale and financing of personal property in the various jurisdictions (municipalities, counties, and states). Yes,It is important THE UNIFORM COMMERCIAL CODE ( UCC )(A model statute covering such issues as the sale of goods, credit, and bank transactions.)