The Uniform Commercial Code (UCC) is a collection of regulations that govern business transactions and contract issues. It has been adopted by all 50 states, and relates to transactions involving moveable goods that are transferred between a buyer and seller. This means transactions involving real estate purchases or the hire of services do not fall under the UCC. Our firm has represented numerous clients in UCC contract disputes, and can answer your questions and tenaciously uphold your legal rights every step of the way.
There are 9 articles in the UCC that govern various aspects of business transactions. These include:
- General and basic concepts
- The sale or lease of moveable goods
- Commercial paperwork
- Bank deposits and collection papers
- Letters of credit
- Bulk transfers
- Documents of the title, including warehouse receipts and bills of lading
- Investment securities
- Secured transactions (involving personal property items)
Understanding Your Rights in a UCC Dispute
Article 2 of the UCC provides regulations for the sale of goods, as well as the leasing of goods. UCC disputes may involve buyers, sellers, lenders, creditors, and other parties involved in the sale or purchase of a product. If one party breaches a contract, and the case falls under the UCC guidelines, you have several legal options for pursuing a favorable outcome.
By law, you have the right to:
- File a lawsuit
- Obtain legal representation
- Pursue a settlement through out-of-court means like arbitration
While the UCC sets forth rules concerning transactions between buyers and sellers of specific goods, it does not regulate certain factors. These include the price of the goods, the delivery method for the goods, the payment for the goods, or the quantity of the goods. If the dispute involves one of these factors, you may not be able to obtain a settlement through a UCC dispute. However, you may still file a lawsuit for a breach of contract that occurred regarding these issues.
UCC disputes are often complicated, and it is important to seek legal assistance when filing a lawsuit. If you are involved in a business transaction regarding moveable goods, and the other party fails to uphold their end of the contract, our firm can help. Depending on the situation, you may be able to enforce the UCC and receive compensation for any financial loss you suffered as a result of the breach of contract.
When creating a business contract that falls under the UCC guidelines, it is important to pay attention to the details and language of the contract to ensure it is clear and thorough. This can help avoid contract disputes from ambiguous statements. If the other party breaches the contract involving the sale or purchase of goods, you have the right to pursue justice through business litigation.
