The Uniform Commercial Code.
COMMERCE
UCC Financing Statement
UCC Financing Statement (usually called a UCC-1 Form) is a form that creditors file with states in which they have a security interest in a debtor’s personal property. The financial statement serves a similar purpose as recording a deed for...
UCC-1 Form
UCC-1 Form (commonly called a UCC financial statement) is a form that creditors should file with states in which they have a security interest in personal property. The financial statement serves a similar purpose as recording a deed for real...
ultrahazardous activity
Ultrahazardous Activity (also known as abnormally dangerous or extrahazardous activity) refers to actions of individuals and entities that involve a high level of danger which typically carries strict liability. Ultrahazardous activity, by...
uncommitted credit facility
Uncommitted credit facilities are a short-term credit facility which are subject to the discretion of both the borrower and the lender. That is, the creditor has no obligation to extend credit to the borrower, and the borrower has no...
unconscionability
A defense against the enforcement of a contract or portion of a contract. If a contract is unfair or oppressive to one party in a way that suggests abuses during its formation, a court may find it unconscionable and refuse to enforce it. A contract...
unconscionable
Unconscionable is an adjective that means without a conscience; unscrupulous; so unfair or unjust that it shocks the conscience. The adjective is frequently used in the context of contract law for contracts that have grossly oppressive and...
uncovered option
See Naked Option.
undercapitalization
Undercapitalization means that a company does not have enough capital to conduct ordinary business operations. Undercapitalization may also lead to the company being unable to pay its creditors. Among other causes, undercapitalization may...
undersecured debt
An undersecured debt is a debt secured by collateral with a lower value than the total amount of the claim. From the debtor’s perspective, the obligation owed to the creditor has a higher value than the collateral given by the debtor to...