Uniform Commercial Code

The Uniform Commercial Code (UCC ) ( German about: Uniform Commercial Code ) is for the whole territory of the United States of America applicable, club comprehensive commercial law.

With the development in the early 1940s by the American Law Institute, the National Conference of Commissioners on Uniform State Law as well as some lawyers and professors began. The aim was to create through this private initiative a sample draft for the U.S., the individual states should adopt in their commercial law. The first draft was released in 1950 and finally adopted in 1952 by the American Law Institute. Due to some criticism of the UCC was revised in 1958 for the first time. Further revisions in which parts were revised and re- inserts were held in 1972 and ultimately 2003.

The UCC consists of 13 " Articles" which can be broken down into individual sections ( "Parts "). The acquisition by the states could only be voluntary, as a legislative power of the Federation does not exist. Since the UCC was not adopted by the U.S. federal legislature of the UCC is consequently not Federal Law ( Federal Law). The states were therefore freely be to carry out modifications or not to take part.

Almost all states have this design since been adopted largely unchanged. Only Louisiana has larger parts are not put in place because it does not build up as the only state on the English, but the French legal tradition. Every single state thus continues to hold a private commercial law. However, since this is based on the UCC, the differences are usually small. Consequently, the UCC has nevertheless led to a considerable simplification of the U.S. trade law. The American Law Institute constantly monitors new developments in commercial law and for proposing any changes.

Despite UCC continues to be the common law be followed, since some parts of the UCC consciously have legal gaps that must be interpreted by common law. Decisions are binding only in the respective state, but can be used to verdict in other States.