ANTH 120 Chapter Notes -Uniform Commercial Code, Parol Evidence Rule, United Nations Convention On Contracts For The International Sale Of Goods
Document Summary
Introduction: the uniform commercial code (ucc) has been adopted in whole or in all part in all states. It has been adopted in order to modernize the law relating to a variety of commercial transactions, including sales, leasing of goods, banking, negotiable instruments (such as checks and negotiable promissory notes), secured transactions, and documents of title. The scope of article 2: ucc article 2 governs sale of goods. A sale is a transaction in which a seller passes title (ownership) to a buyer for a price. The price may be any type of consideration, including payment of money or exchange of goods or services. Goods are movable personal property, but do not include most forms of intangible property, such as money, investment securities (stocks and bonds), promissory notes, accounts receivable, and trademarks. State statutes oftentimes exempt certain transaction (e. g. , sale of blood) from sales coverage for reasons of public policy.
