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What is the Uniform Commercial Code? Why was it created? What does Article 2 and 2A...

What is the Uniform Commercial Code? Why was it created? What does Article 2 and 2A cover? Explain.

Do some quick internet research and find a case that deals with some aspect of the UCC and a merchant. Provide a brief summary of the facts of the case, an provide the court's analysis.

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Answer #1

Uniform Commercial Code (UCC) laws are established to regulate sales of personal property and other business transactions. For example, transactions such as borrowing money, leasing equipment or vehicles, setting up contracts, and selling goods are all covered by the Uniform Commercial Code.

The UCC built on earlier uniform commercial acts involving transactions, such as negotiable instruments and sales receipts, adopted by many state legislatures starting in 1896. The purpose of the code was to harmonize laws in all 50 states concerning sales and commercial transactions.

Article 2 : Sales and Leases. This article governs the sale of goods. Article 2A governs leases of personal property.

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