...Uniform Commercial Code Article 2 of the universal commercial code, or simply article 2 of the U.C.C, deals precisely with transactions dealing with sale of goods. While other articles of the UCC covers other elements, article 2 concentrates on sale of goods only. The article defines goods as anything moveable or identifiable before and at the time of sale. This article does not deal with transfer of service contracts. Although the article deals with transfer of goods, there exist some exceptions. For instance, sale of real estate or houses is covered under UCC article 9 but not article 2. Sale of such goods as automobiles falls perfectly under the category of goods covered by article 2. However, transfer of insurance policies does not fall under article 2. The purpose of this article is to regulate sale of goods, and protect the interests of both merchants and non-merchants. The following scenario is designed to demonstrate elements of a valid (or void) contract worth of being protected or enforced by the doctrines of article 2 of the UCC. Scenario Peter, an automobiles merchant, sold his automobile to a customer named Paul. Paul feels that the price of the car was greatly inflated. After covering just a few miles with the car, the buyer realized that the car could not make many miles without being rested for up to one hour. To make matters worse, the seller, Peter, had promised Paul that the car was in perfect condition and could make several miles...
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...Uniform Commercial Code is a model act that includes comprehensive laws that cover most aspects of commercial transactions. All the states have enacted all or part of the UCC as statues (Cheeseman, H. R., p.245). This code is a set of laws that provide legal rules and regulations governing commercial or business dealings and transactions. It also regulates the transfer or sale of personal property. I think what occurred between Gadgets Galore and WidgetsRUS can possible be considered a breach of contract under the Uniform Commercial Code. Even though there was a verbal agreement and a written agreement WidgetsRUS failed to respond to in a timely manner. Therefore, under UCC terms, Gadgets Galore would be entitled to financial remedies equal...
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...Uniform Commercial Code: Article 2 Sales Transactions over the Internet Introduction The Uniform Commercial Code (UCC) generally refers to the main set of regulations and laws that were primarily established to harmonize and standardize sales and commercial transactions in the United States. The primary reason for standardizing the state laws regarding the conduct of sale and transactions is that, often in today’s society, those transactions and sales tend to extend beyond the jurisdiction of a given state. For instance, a particular product may be manufactured in California, warehoused in Arizona, sold in Texas and delivered in Michigan. Consequently, the use of the UCC has not only ensured uniformity of the state laws regulating commercial transactions but has also allowed the states to achieve the necessary flexibility required to meet their local transaction demands (Benjamin and Jane,1998). The history of the UCC dates back to the 1940s when top American legal scholars began to draft a uniform law regulating commercial transactions that was intended to be adopted into the code of statutes of all of the states in America. Although the content of the UCC is generally the same in all the states that have adopted it, some states have however undertaken minimal structural adjustments to conform to the local state customs. The implementation of the UCC has enabled people from various states to freely make their commercial contracts without the different terms and conditions...
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...Create a flowchart of the three branches of government and associate two (2) Uniform Commercial Code (UCC) clauses for each branch of government. Designate the relationships among the governmental branches. In an accompanying document, exemplify the types of powers of each branch of government and include these items: • Taxing and spending powers • Limits on both federal and state governmental actions • Due process • Equal protection In a three to four (3-4) page flowchart, include the following: 1. Organize all three (3) branches of government in a flowchart format. 2. Designate two (2) UCC clauses that align with each branch. 3. Illustrate the interactivity among the branches of government in the flowchart. 4. In a separate document, exemplify the types of powers of each branch of government. Your assignment must follow these formatting requirements: • Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions. • Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length. The specific course learning outcomes associated with this assignment are: • Explain the functions of law, the nature of crimes and torts, and the structure of the U.S. legal system...
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...Name Kaplan University PA130: Unit 9 Assignment Date The Uniform Commercial Code (UCC) is a set of regulations that is used to standardize sales and transactions in the United States. The UCC is not law, but more of a collection of statutes that can vary from state to state. Article 2 of the UCC is a model statute that has been adopted by every state, except Louisiana, and is used resolve disputes regarding the sale of goods. Goods covered by the UCC are defined as any item that is identifiable and movable at the time of sale. Spagnola, L. (2006). Goods that are covered by Article 2 may include furniture, electronics, or vehicles. Article 2 does not include transactions involving service contracts or the sale of real estate. The UCC applies if the contract concerns a sale of goods in a commercial setting. Examples of when the UCC applies include when a fruit vendor buys apples from an apple dealer, when a buyer purchases a radio from an electronic store, and when a buyer purchases furniture from a furniture store. Article 2 of the UCC also includes a Statute of Frauds rule, which states that any contract for the sale of goods that exceeds $5000 must have a sufficient record to indicate that a contract for sale has been made. (§ 2-201). Should a record incorrectly state a term agreed upon by the parties, it is still sufficient; however, it is not enforceable beyond the amount of goods stated in the record. In accordance with § 2-209, should a signed contract...
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...Attorney A. J. Mitchell BUSN-420-61326 Business Law Hazel G. Sturdebant OUTLINE PAPER TITLE: the common law tradition and sources of law I. THESIS STATEMENT: A. Common law is a legal system that is largely formed by the decisions previously made by courts and not imposed by legislatures or other government officials. The reasoning used to interpret this type of law is known as casuistry, or case-based reasoning. It is a strict, principle-based reasoning that uses the circumstances of a case to evaluate the laws that are applicable. Decisions that were made about similar cases are valuable, and the case in question is evaluated on the basis of past cases. The strength of the similarity among the cases, in turn, strengthens the reasoning based on them. B. The term "common law" also underlines the fact that this type of law did not originate from equity, maritime and other special branches of law. Statutes serve as brief explanations of law and therefore are not very explanatory. Codification is the process by which a statue is passed, expressed within a single document, so that it is understood within existing law rather than creating the need for new laws. C. The common-law system prevails in England, the United States, and other countries colonized by England. The common-law system is used in all the states of the United States except Louisiana, where French Civil Law...
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...The Uniform Commercial Code (UCC) is a "code" or a "collection of statutes." This is the type of law that may be adopted by all U.S. legislatures, including the U.S. Congress, the Virginia General Assembly, other state legislatures, and even a county board of supervisors. Codes are intended by the legislature to create new law in the targeted subject areas. The other source of law is "case law" or "common law." For centuries, courts have been in the business of resolving disputes. The "Uniform Commercial Code" is a model. It is not law in any state unless and until a state legislature adopts it as the law of that state. Any state can decide not to adopt the UCC or can decide to make revisions to the code that satisfies that state’s particular heritage or commercial needs. Also, each state’s court system can reach different results when interpreting the code provisions. Accordingly, the UCC is not entirely uniform in all 50 states and despite this the UCC has facilitated much greater uniformity of commercial laws. The Uniform Commercial Code Article 2 on the Sale of Goods is basically a codification of existing commercial law. The UCC drafters tried to write down the generally understood business practices between merchants for the sale of goods. The UCC "fills in the gaps.” Types of contracts covered by the UCC The UCC concerns a wide variety of commercial issues, including: the sale of goods; the lease of goods; banking and security interests such as commercial paper negotiable...
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...Performance of the Sales Contract 1. No. The fact that the driver refused to let Sarah inspect the car before receiving a certified check for the balance due, and then unloaded the car and gave Sarah the title to the car after receiving the check, suggests that the parties agreed that Sarah was not entitled to inspect the car before payment against documents of title. 2. Assuming that Sarah was not entitled to the inspection of the car before payment and that she discovered the scratches and lack of basic features such as the CD player when receiving the car, she could have rejected the car without payment arguing that the non-conformity was obvious even without inspection. Now, if Sarah noticed the non-conformity when inspecting the car after the carrier left, she still could have demanded the dealer to provide a car meeting the contract terms arguing that the payment before inspection did not constitute acceptance of the car or deprived her from inspecting the car or pursuing remedies against the dealer. 3. The fact that Sarah discovered that the car had the tendency to stall and took it in numerous occasions to the dealer for repair, indicates that she decided to keep the car. Sarah still has the right to revoke her acceptance arguing that a car that stalls and have to be restarted in a traffic light has a serious problem and therefore represents a very low value. She also can argue that dealer has failed to fix the problem despite the numerous unsuccessful...
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...Social Media James H. Allen Professor Sergio Gregorio Business Law 100 9 March, 2014 As the prevalence of social media continues to rise consumers are recognizing ways in which social media can direct them to better sources of purchasing. As a result, business are now jumping on the social media bandwagon at a higher than ever pace, embracing social networks to achieve their marketing and business goals. So what are the components of legally astute media marketing managers who use media outlets for consumer transactions? What are the alternative dispute resolutions available and which one would work best? Since consumer transactions can occur across state lines how can the federal government best control these transactions? Which branch of government can effectuate the most significant impact on regulating consumer transactions? Does agency relationship exist on social media sites between the social media provider and the business that utilizes the site for advertising? These are a few questions to be discussed about the social media giant Facebook. What are the four components of a legally astute social media marketing manager? According to (Bagley 2013) “They are a set of value-laden attitudes about the importance of law to the firms success, a proactive approach to the legal issues and regulations, the ability to exercise informed judgment when managing the legal aspects of business, lastly, context-specific knowledge of the law and the appropriate...
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...Uniform Commercial Code (UCC) Legislative History On September 21, 1957 Massachusetts adopted the Uniform, Commercial Code. Effective October 1, 1958, the Code replaced the Uniform Sales Act, the Negotiable Instruments Law, the Uniform Warehouse Receipts Act, the Uniform Bills of Lading Act, the Uniform Stock Transfer Act, the Uniform Trust Receipts Act, and numerous other statutes. Massachusetts thus became the second state to enact the Code, following the lead of Pennsylvania, where the Code, enacted in April 1953, took effect on July 1, 1954. In March 1958 the Code was enacted in Kentucky, effective July 1, 1960. Proposals to enact the Code will undoubtedly come before legislatures in other states in the course of the next few years, and it seems likely that several other states will join the procession at their 1959 sessions (Braucher, 1958). The Uniform Commercial Code (UCC or the Code), first published in 1952, is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. The Uniform Commercial Code, or UCC, is a very large collection of legal rules regarding many important business, or “commercial,” activities. The UCC originally was created by two national nongovernmental legal organizations: the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI) (Steingold, 2013). As...
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...This essay will discuss what the UCC and UCITA acts are, and the reasons why the acts were created. Discuss the differences between the Article 2 of the UCC and the UCITA. Determine the distinction between selling a product and licensing that product legally. Discuss the reasoning for drafters to propose a separate and distinct uniform act. UCC and UCITA Act UCC stands for Uniform Commercial Code, and that is a code that addresses the majority of aspects of commercial law. (No Author, 2011) UCITA stands for Uniform Computer Information Transactions Act, and that code is to regulate transactions in computer information products. But before the UCC and the UCITA act there was the Interstate Commerce Act of 1887. The act was put in place to normalize railroads that saturated the states boundaries. (U.S. News, 2012) Even though each one of the acts are different and provide different provisions, they all have something in common, they all create a better way to provide uniformity in commercial law between states. The Uniform Computer Information Transaction (UCITA) act started out as an amendment to article 2 of the Uniform Commercial Code (UCC), but there were so many disagreements with the amendment, that it was decided to rename it the UCITA and to keep it moving as a separate act, and it was approved in February 2000. (Andersen, Raymakers, & Reichenthal, 2001) The difference between selling a product and licensing a product is when you are selling a product...
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...Grocery, Inc. Case Scenarios Learning Team Law/421 Contemporary Business Law University of Phoenix November 2014 Grocery, Inc. Uniform Commercial Code UCC Merchant and Individual The UCC does not provide for merchant and individual contract agreements. Contracts UCC and the Buyer The UCC provides protection for the buyer. Promote commercial efficiency by providing standardized procedures. Week_5 Learning Team "C" Case Scenario Grocery, Inc. 11/16/2014 2 Grocery, Inc. (Renovations) • • • • Hiring other companies to perform work Performance guarantee and expectations Delegation of duties Final outcome between Company A versus Company B in the Renovations dispute. Week_5 Learning Team "C" Case Scenario Grocery, Inc. 11/16/2014 3 Grocery, Inc. (Jeff) Jeff was 17 when he bought car Paid down payment and $200 for six months Lost job and went to dealer to cancel contract Week_5 Learning Team "C" Case Scenario Grocery, Inc. 11/16/2014 4 Grocery, Inc. (Jeff) • Dealership cannot enforce contract • Jeff can avoid contract • Dealership gets car • Jeff may owe more money • Jeff may recover some money Jeff is still 17 • Contract is enforceable • Dealership Jeff is keeps money now 18 • Jeff keeps car unless repossessed Week_5 Learning Team "C" Case Scenario Grocery, Inc. 11/16/2014 5 Grocery, Inc. (Cereal, Inc.) • Gap Filling Provisions of UCC Article 2 • Risk of loss stays with seller until delivery...
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...order to form a contract. Each party has to give something of value for consideration to exist. Performance There must also be performance under the contract. Legal Capacity The persons entering into the contract must have legal capacity to enter into a contract and do so in good faith. Also, the purpose of the contract must be legal. Much of U.S. commercial contract law is now codified under the Uniform Commercial Code (UCC). Private organizations, including the American Law Institute and the National Conference of Commissioners on Uniform State Laws, analyzed common law precedents before drafting the UCC. The first draft of the UCC was adopted by most states in the 1950s and 1960s. The UCC is periodically updated to reflect current changes in law and to include new areas of law. The UCC has specific articles covering sales and leases of goods, negotiable instruments, bank deposits, funds transfers, letters of credit, bulk sales, warehouse receipts, investment securities, and secured transactions. The UCC is particularly important for business in outlining the rights and responsibilities of buyers and sellers in commercial sales. Another important article sets forth responsibilities between banks and their customers in honoring deposits and checks. The UCC helps clarify and provide consistency in U.S....
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...Week 3 Assignment 1 ------------------------------------------------- Top of Form Bottom of Form If you are using the Blackboard Mobile Learn App, please click "View in Browser". Click the link above to submit your assignment. Students, please view the "Submit a Clickable Rubric Assignment" in the Student Center. Instructors, training on how to grade is within the Instructor Center. Assignment 1 "Branches of Government" Create a flowchart of the three branches of government and associate two (2) Uniform Commercial Code (UCC) clauses for each branch of government. Designate the relationships among the governmental branches. In an accompanying document, exemplify the types of powers of each branch of government and include these items: * Taxing and spending powers * Limits on both federal and state governmental actions * Due process * Equal protection In a three to four (3-4) page flowchart, include the following: 1. Organize all three (3) branches of government in a flowchart format. 2. Designate two (2) UCC clauses that align with each branch. 3. Illustrate the interactivity among the branches of government in the flowchart. 4. In a separate document, exemplify the types of powers of each branch of government. Your assignment must follow these formatting requirements: * Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific...
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...Legal and Ethical Environment of Business your T name AMERICAN INTERCONTINENTAL UNIVERSITY Abstract How important is it to have freedom to contract and practical commerce and be technologically neutral. Can you create a new computer chip design it , bubble wrap it and ship it for sale and still have ownership of that computer chip? With the Uniform Commercial Code and Uniform computer Information Transaction Act they will shed light of how you are protected by the government. Not just consumers but business are govern a like . . Before the UCC and the UCITA, the first U.S attempt to promote uniformity in commercial laws from state to state is the commerce clause. The commerce clause of the constitution, provides congress with authority to regulate business in different states. The commerce clause extends to all instrumentalities of interstate commerce as well as to intrastate conduct that has substantial effect on interstate commerce. The UCITA is intended to facilitate the licensing of computer related intellectual property, with an emphasis on permitting owners of software the ability to maintain control over their intellectual property forever. The UCC is designed to facilitate the sale, shipment and delivery of tangible goods identified in a contract. The biggest difference I see between UCITA and UCC is UCITA gives the software designer control of their property even after sale of their property...
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