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Milan Vaishnav
Milan Vaishnav , Financial Advisor
Category: Finance
Satisfied Customers: 972
Experience:  Technical Analyst in Financial Markets -- Experience of more than 10 years in consulting
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How does the Uniform Commercial Code (UCC) define a good How

Customer Question

How does the Uniform Commercial Code (UCC) define a good? How does the UCC define a merchant? How are the UCC requirements different for a merchant versus a nonmerchant? Give examples.
Submitted: 6 years ago.
Category: Finance
Expert:  Milan Vaishnav replied 6 years ago.

Dear Friend,

 

UNIFORM COMMERCIAL CODE (UCC) - A model statute covering things such as the sale of goods, credit, and bank transactions. All states have adopted and adapted the entire UCC, with the exception of Louisiana, which only adopted parts of it.

 

Goods Can be defined as (A) goods of which any unit, by nature or usage of trade, is the equivalent of any other like unit; or (B) goods that by agreement are treated as equivalent.

 

http://www.law.cornell.edu/ucc/1/article1.htm#s1-201

 

Merchant (Party) can be defined as as distinguished from "third party", means a person that has engaged in a transaction or made an agreement subject to [the Uniform Commercial Code].

http://www.law.cornell.edu/ucc/1/article1.htm#s1-106

 

I hope the above helps...

Regards,

Customer: replied 6 years ago.
This is not exactly what I was looking for but I appreciate your help Smile
Expert:  Milan Vaishnav replied 6 years ago.

Dear Friend,

 

If this is not what you were looking for, you can still elaborate on your question further anythime here...

 

Warm Regards,

Customer: replied 6 years ago.
Thanks but this is not what I'm looking for.
Expert:  Milan Vaishnav replied 6 years ago.

Dear Friend,

 

Its alright...Hope to assist you in future...

Regards,