Uniform Commercial Code

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Developments and Revisions in the Post-Code Era
The history of revisions in the post-code era began with the establishment of the Permanent Editorial Board (PEB) in 1961. This body was originally charged with monitoring and revising the UCC when and where necessary, with later roles extended to include providing commentary on areas of ambiguities unresolved by official comments or the code (Hamoudi 118-119). In 1962, a full revision of the UCC was undertaken, producing an improved version of the code that was enacted by majority of states over the 1960s. Unlike latter revisions, the 1962 amendments concerned every article rather than focusing on individual articles. Since then, most of the amendments have targeted specific articles. In 1972, …show more content…

Its nine articles seek simplify, clarify, and modernize the commercial transactions law in response to the problem of increasingly difficult legal and contractual requirements alongside the challenges associated with state law differences that complicate business transactions across states. The main benefits that have been achieved through the UCC entail ease of interstate business transactions, standardization of commercial expectations, heightened commercial stability, and reductions in business or operational cost. In terms of history, the UCC arose from the efforts of the NCCUSL and ALI. One approach of describing the code’s creation up to its institution in 1952 entails underscoring the apolitical, expert-driven, and consultative process undertaken by the drafters and participants. Such deliberations produced the various articles found in the UCC. Another perspective from which the history of the UCC can be described entails the deliberations and concessions between two groups that shared the vision for modernized trade, but differed in terms of focus on regulation. After the UCC was published in 1952, it has undergone various amendments, first affecting the entire code and later affecting individual articles in response to changes in the business context. In the cases cited, the courts have sought to establish the purpose of the code’s provisions, as well as the uniformity of its application across

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