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The American Heritage Dictionary of Business Terms » Uniform Commercial Code (UCC)
Uniform Commercial Code (UCC)
Uniform Commercial Code (UCC) definition - business
Uniform Commercial Code (UCC)
A set of laws governing commercial transactions designed to standardize state regulation of business practices, including sales, transportation, financing, leases, storage, and so forth. For example, the Uniform Commercial Code permits a creditor to inform other creditors about a borrower's assets being used as collateral. All states other than Louisiana have adopted the entire UCC.
The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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