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Simple English definitions for legal terms

commercial law

Read a random definition: normal law

A quick definition of commercial law:

Commercial law is a set of rules that governs how businesses and consumers interact with each other. It covers many different areas, such as banking, contracts, real estate, and sales. The Uniform Commercial Code is a set of laws that most states have adopted to help regulate commercial transactions. It has 13 different sections that cover everything from general provisions to secured transactions. Commercial law helps ensure that businesses and consumers can work together fairly and efficiently.

A more thorough explanation:

Commercial law is a set of rules that governs business, trade, and transactions between consumers and businesses. It covers a wide range of areas, including:

For example, commercial law regulates how banks operate, how businesses can declare bankruptcy, and how consumers can obtain credit. It also covers the legal requirements for contracts, such as what makes a contract valid and enforceable.

The Uniform Commercial Code (UCC) is a set of laws that has been adopted by most states in the US. It covers many areas of commercial law and is divided into 13 articles, including:

  • Article 1: General Provisions
  • Article 2: Sales
  • Article 2A: Leases
  • Article 3: Negotiable Instruments
  • Article 4: Bank Deposits
  • Article 4A: Funds Transfers
  • Article 5: Letters of Credit
  • Article 6: Bulk Sales
  • Article 7: Warehouse Receipts
  • Article 8: Investment Securities
  • Article 9: Secured Transactions
  • Article 10: Effective Date and Repealer
  • Article 11: Effective Date and Transition Provisions

These articles provide specific rules and regulations for different types of commercial transactions. For example, Article 2 covers the sale of goods, while Article 9 covers secured transactions, such as when a lender takes collateral to secure a loan.

commercial frustration | commercial speech

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19:40
by pretty cool, do you mean smug pseudo intelect?
Dkk
19:40
THE INTERNET WAS A MISTAKE. END IT NOW.
Dkk
19:40
Google AI kept telling me schools were not binding ED when they were. Really annoyed me.
Dkk
19:41
Yeah, when accurate it is nice.
this election has the potential to push america further into ultranationalist populism
Dkk
19:42
Maybe, didnt happen last time.
19:42
it was hard to not improve it. google search was terrible due to the ads and seo cheaters with buzz words and alt text
Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
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