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Editing Contracts/Uniform Commercial Code
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==Goals== | ==Goals== | ||
The goal of harmonizing state law is important because of the prevalence of commercial transactions that extend beyond one state. For example, goods may be manufactured in State A, warehoused in State B, sold from State C, and delivered in State D. The UCC achieved the goal of substantial uniformity in commercial laws and, at the same time, allowed the states the flexibility to meet local circumstances by modifying the UCC's text as enacted in each state. The UCC deals primarily with transactions involving [[personal property]] (movable property) | The goal of harmonizing state law is important because of the prevalence of commercial transactions that extend beyond one state. For example, goods may be manufactured in State A, warehoused in State B, sold from State C, and delivered in State D. The UCC achieved the goal of substantial uniformity in commercial laws and, at the same time, allowed the states the flexibility to meet local circumstances by modifying the UCC's text as enacted in each state. The UCC deals primarily with transactions involving [[personal property]] (movable property), not [[real property]] (immovable property). | ||
Other goals of the UCC were to modernize contract law and to allow for exceptions from the [[common law]] in contracts between merchants. | Other goals of the UCC were to modernize contract law and to allow for exceptions from the [[common law]] in contracts between merchants. |