Use of UCCThe objection of the enactment of UCC was to harmonize the commercial laws of different states in the U.S. The different states had different laws on the same subject that created lot of trouble for business entities as they had to go through it. Hence, in the current time ...
It’s a barcode, mainly used in the United States, that is printed on retail product packaging. The UPC is primarily used for scanning trade items at the point of sale (per GS1 specifications, based on international standards).The code is used for tracking trade items in stores and ...
A UCC filing is submitted to the Secretary of State in the state where the borrower is located, regardless of where the creditor is. The lien filing process may vary by state. Some places require a paper filing, while other states have moved to a digital process. What is the impact of ...
Who are the parties and types of contracts that may be covered by the UCC? In what ways is the coverage of the CSIG and the UCC similar or different? What kind of business entity uses an operating agreement? What is the purpose of a corporate ethics code? Elaborate on your answer. ...
This article is for informational purposes. This content is not legal advice, it is the expression of the author and has not been evaluated by LegalZoom for accuracy or changes in the law. You may also like The Basics of Sales Commission Agreements ...
Although all terms loans have the same basic structure – a lump sum paid back over a fixed period of time – there are also many tweaks and options that can impact the way the loan works: Short-term loans Short-term loans are often used as emergency funding to cover unexpected costs, ...
Our product recommendations are made independently, but we may earn affiliate commissions if you use a link on this page. The UCC is a set of laws designed to govern commercial transactions within or with, the United States. Many different articles exist within the code, each one governing a...
There are two types of UCC-1 statements: blanket liens, and liens attached to specific collateral. Understanding a Uniform Commercial Code-1 (UCC-1) Statement The Uniform Commercial Code (UCC) is a state law that has been adopted by all 50 states and the District of Columbia. It was estab...
The Uniform Commercial Code (UCC), adopted in some form by all U.S. states, outlines these requirements: Use of clear language: The disclaimer must include specific terms like "as is" or "with all faults" to waive implied warranties. Conspicuous presentation: The language should be clearly ...
Strict liability is being in the imposition of a party liability without any fault like tortious and negligence intent. In a claim involving strict liability, the claimant must provide proof that the tort occurred and that the defendant was responsible. In a case involving strict liabil...