UNIFORM COMMERCIAL CODE (UCC) | The World of Accounting For Professional Accountants

legal code that standardizes business law in the United States. The Code was formulated in 1952 by the National Conference of Commissioners on United States Laws. The Code was offered to the state legislatures, and all states except Louisiana adopted it. For example, the Code covers regulations on commercial paper, warranties, uncertified checks, written agency agreements, security agreements, and bankruptcy. The Uniform Commercial Code is followed by practicing lawyers.