Uniform Commercial Code and its Official Commentaries (Volume 3)

Author: American Law Institute
Publisher:
Publish Date: 2006-01-01
Features: The Uniform Commercial Code (UCC) of the United States is a model law jointly drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI). It was officially published in 1952 and has been adopted by all 50 states in the U.S. It has had a profound impact on the civil and commercial legislation of countries around the world and international commercial conventions, and its importance is widely recognized globally. It is hailed as one of the greatest written codes in the history of common law. The official commentary on the Code, which is the explanation provided by the drafters of the UCC, is equivalent to the legislative reasons in civil law. It elaborates on the purpose of each provision of the Code, making it highly valuable for reference. This volume includes the translation of Title IX on movable property security transactions, covering scope, types of collateral, effective creation of security interests, publicization of security interests, priority rules, rights of third parties, obligations of secured parties, and enforcement of security interests.