Definition Uniform Commercial Code

glossary: Uniform Commercial Code definition
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Glossary: Uniform Commercial Code

Uniform Commercial Code or UCC is a codification of commercial law, adopted in most states, that attempts to make uniform all laws relating to commercial transactions, including chattel mortgages and bulk transfers. The UCC includes coverage of drafts and other negotiable instruments, documents of title, transfers of funds between banks, and security interests in assets as well as draft collections and letters of credit.

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Definition: Uniform Commercial Code

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