Commercial law
commercial law: an overview
Commercial law governs the broad areas of business, commerce, and consumer transactions. Specific law has developed in a number of commercial fields. These include:
- Banking
- Bankruptcy
- Consumer credit
- Contracts
- Debtor and creditor
- Landlord-tenant
- Mortgages
- Negotiable instruments
- Real estate transactions
- Sales
- Secured transactions
The Uniform Commercial Code, which has been substantially adopted as statutory law in nearly every state, governs numerous areas of commercial law. Currently it is divided into thirteen Articles:
- Article 1 (General Provisions)
- Article 2 (Sales)
- Article 2A (Leases)
- Article 3 (Negotiable Instruments)
- Article 4 (Bank Deposits)
- Article 4A (FundsTransfers)
- Article 5 (Letters of Credit)
- Article 6 (Bulk Sales)
- Article 7 (Warehouse Receipts)
- Article 8 (Investment Securities)
- Article 9 (Secured Transactions)
- Article 10 (Effective Date and Repealer)
- Article 11 (Effective Date and Transition Provisions)
Definition from Nolo’s Plain-English Law Dictionary
The law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. In recent years this body of law has been codified in the Uniform Commercial Code (UCC), which has been almost universally adopted by the U.S. states.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:12 pm
menu of sources
Useful Offnet (or Subscription - $) Sources
- Good Starting Point in Print: James J. White & Robert S. Summers, White and Summers' Hornbook on the Uniform Commercial Code, West Group, (5th Edition, 2000)
- LII Downloads
