Uniform Commercial Code
Uniform Commercial Code definition by Webster's New World
uniform commercial code - Investment & Finance Definition
A coordinated code of laws governing the legal aspects of business and financial transactions in the United States, excluding Louisiana. The UCC regulates the sale of goods, and also regulates financial transactions, such as bank deposits and collections, letters of credit, bulk transfers, and the delivery of title documents. It defines the rights and responsibilities of each party in a commercial transaction and provides a statutory definition of commonly used business practices. The National Conference of Commissions of Uniform State Laws wrote the UCC.Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana. Used by arrangement with John Wiley & Sons, Inc.
uniform commercial code - Legal Definition