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. The UCC covers various aspects of commerce, including the sale and lease of goods, negotiable instruments, secured transactions, as well as on other categories related to banks and commercial transactions.
See also: Commercial Law
[Last updated in July of 2024 by the Wex Definitions Team]