What is the Uniform Commercial Code?

The Uniform Commercial Code (UCC) is a set of laws governing commercial transactions in the United States. It was first adopted in 1952 and has been revised several times since then. The UCC is divided into nine articles, which cover a variety of topics related to commercial activity. In Oklahoma, the UCC is enforced by the Uniform Commercial Code Commission. The UCC is intended to ensure uniformity in commercial transactions across all fifty states. This means that the same rules will apply uniformly regardless of where the transaction takes place. This helps to create a level playing field and prevents companies from taking advantage of differences in state laws to gain an unfair advantage. The UCC covers a wide range of topics, including sales transactions, secured transactions, negotiable instruments, and more. One important aspect is its coverage of dangerous products. It requires manufacturers, distributors, and sellers to exercise due diligence in providing products that are safe for use. Further, it allows for victims of dangerous products to file claims against the manufacturer or seller. This helps to ensure that companies are held accountable for the harm their products cause.

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What is the Uniform Commercial Code?

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