Uniform Commercial Code
noun
A standardized set of laws and regulations in the US that governs sales and other commercial transactions across the country, nearly every state has adopted the UCC regulations to an extent.
The UCC was developed to help harmonize interstate business transactions, such as the sale/lease of goods, financial transactions, negotiable instruments, investment securities, and secured transactions. Notable exclusions under the UCC are contracts for real estate, service contracts, and employment contracts.
Also seen as
- UCC
