What is the Uniform Commercial Code (UCC)?
The Uniform Commercial Code is a body of laws governing commercial transactions in the United States. This is considered all tangible personal property (e.g., cars, boats etc.) but will not include any of the following:
1. Contracts for real property (land)
2. Contracts for intangible property (stock)
3. Contracts for fixtures (buildings attached to land)
What is Article 9:
Article 9 of the Uniform Commercial Code (UCC) is a statutory law that governs contracts for all secured transactions. This article has been revised and is applicable to transactions that create a security interest in both tangible and intangible personal properties.
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