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U.C.C.
- ARTICLE 1- GENERAL PROVISIONS
..PART 1. (2) SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF
THE ACT
Underlying
purposes and policies of this Act are
(a)
to simplify, clarify and modernize the law governing commercial transactions;
(b)
to permit the continued expansion of commercial practices through custom, usage
and agreement of the parties;
(c)
to make uniform the law among the various jurisdictions.
The
UCC is a joint project of the American Law Institute
and the National Conference of Commissioners on Uniform State Laws.
The
individual states, not the Federal Government, are the primary
source of law on commercial transactions in the U.S. In all 50 states and the
District of Columbia at least some of that commercial law is based on the
Uniform Commercial Code (U.C.C.).
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