Greensboro, NC (PressExposure) May 26, 2008 -- Commercial law (sometimes known as business law) is the body of law which governs business and commerce. Many countries have adopted civil codes which contain comprehensive statements of their commercial law. Learn more about this with the North Carolina commercial lawyer.
In the United States, commercial law is the province of both the United States Congress under its power to regulate interstate commerce and the states under their police power. Efforts have been made to create a unified body of commercial law in the US; the most successful of these attempts has resulted in the general adoption of the Uniform Commercial Code.
The Uniform Commercial Code, or sometimes called the UCC or the Code, is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. Visit the North Carolina commercial lawyer for more details about this.
This objective is deemed important because of the prevalence today of commercial transactions that extend beyond one state. The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).
The UCC is the longest and most elaborate of the uniform acts. It has been a long-term, joint project of the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI). The North Carolina commercial lawyer can provide more information about this.
The Code, as the product of private organizations, is not itself the law, but only recommendation of the laws that should be adopted in the states. Once enacted in a state by the state's legislature, it becomes true law and is codified into the stateâs code of statutes.
The Code, in one or another of its several revisions, has been enacted in all of the 50 states, as well as in the District of Columbia, the Commonwealth of Puerto Rico, Guam and the U.S. Virgin Islands. Louisiana has enacted most provisions of the UCC with the exception of Article 2, preferring to maintain its own civil law tradition for governing the sale of goods. For more information about this and about the commercial law, then visit the North Carolina commercial lawyer.