The Uniform Commercial Code (UCC) is a comprehensive set of laws governing commercial transactions, adopted in some form by every state and the District of Columbia. It aims to provide uniformity and consistency across states’ commercial laws...
commercial activities
Uniform Resource Locator (URL)
A Uniform Resource Locator, or URL is the address of a specific location on the web. As explained by the Computer Security Resource Center, a URL is a reference to a web resource that specifies its location on a computer network and a...
Uniform Transfer-on-Death Securities Registration Act
Uniform Transfer-on-Death Securities Registration Act (UTODSRA) is an act that enables people to designate beneficiaries to inherit their stocks, bonds, bank accounts or other securities without the need for probate. The registration process...
unilateral contract
A unilateral contract is a contract created by an offer that can only be accepted by performance.
In a unilateral contract, there is an express offer that payment is made only by a party’s performance. Common examples...
unincorporated business organization (UBO)
An unincorporated business organization (UBO) is a business arrangement used in lieu of a company or partnership. The investor acts as the settlor of the trust and gives the management rights to the trustee, who holds title to the property...
uninsured motorist clause
Uninsured motorist clause is part of some car insurance policies which provides coverage for bodily injuries of the driver and their passengers if (1) the other driver did not have car insurance and (2) the other driver was at fault. Not...
United States Munitions List
The United States Munitions List is a list of defense articles, services and related technical data designated as such by the federal government. These defense items are controlled by the Arms Export Control Act. The List is divided into...
United States Postal Service (USPS)
The United States Postal Service (USPS) is an independent agency of the Executive Branch of the United States government that delivers physical mail across the United States, to U.S. territories, and to military and diplomatic installations...
universal life insurance
Universal life insurance is a type of life insurance that lasts for the life of the insured and has flexible premiums, death benefits, and cash value. Universal life insurance operates similarly to whole life insurance in that the insured...
unjust enrichment
Unjust enrichment occurs when Party A confers a benefit upon Party B without Party A receiving the proper restitution required by law. This typically occurs in a contractual agreement when Party A fulfills their part of the agreement and...