Mo. Rev. Stat. § 400.1-101
Short titles
(a) This chapter shall be known and may be cited as "Uniform Commercial Code". (b) This article may be cited as Uniform Commercial Code - General Provisions.
Revised Statutes of Missouri Chapter 400 — Uniform Commercial Code
Missouri · statute · Mo. Rev. Stat. ch. 400 · 623 active provisions
Provisions
Mo. Rev. Stat. § 400.1-102
Scope of article
This article applies to a transaction to the extent that it is governed by another article of this chapter.
Mo. Rev. Stat. § 400.1-103
Construction of code to promote its purpose and policies — applicability of supplemental principles of law
(a) This chapter shall be liberally construed and applied to promote its underlying purposes and policies, which are: (1) to simplify, clarify, and modernize the law governing commercial transactions; (2) to permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and…
Mo. Rev. Stat. § 400.1-104
Construction against implicit repeal
This chapter being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
Mo. Rev. Stat. § 400.1-105
Severability
If any provision or clause of this chapter or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this chapter which can be given effect without the invalid provision or application, and to this end the provisions of this chapter are severabl…
Mo. Rev. Stat. § 400.1-106
Use of singular and plural — gender
In this chapter, unless the statutory context otherwise requires: (1) words in the singular number include the plural, and those in the plural include the singular; and (2) words of any gender also refer to any other gender.
Mo. Rev. Stat. § 400.1-107
Section captions
Section captions are part of this chapter.
Mo. Rev. Stat. § 400.1-108
Relation to Electronic Signatures in Global and National Commerce Act
This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., except that nothing in this chapter modifies, limits, or supersedes Section 7001(c) of that Act, 15 U.S.C. Section 7001(c), or authorizes electronic delivery of any of the…
Mo. Rev. Stat. § 400.1-201
General definitions
(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other articles of this chapter that apply to particular articles or parts thereof, have the meanings stated. (b) Subject to definitions contained in other articles of this chapter that appl…
Mo. Rev. Stat. § 400.1-202
Notice — knowledge
(a) Subject to subsection (f), a person has "notice" of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or notification of it; or (3) from all the facts and circumstances known to the person at the time in question, has reason to know that it exists. (b) "Knowledge" means actual knowledg…
Mo. Rev. Stat. § 400.1-203
Lease distinguished from security interest
(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to possession and use of the goods is an obligation…
Mo. Rev. Stat. § 400.1-204
Value
Except as otherwise provided in articles 3, 4, and 5, a person gives value for rights if the person acquires them: (1) in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of diff…
Mo. Rev. Stat. § 400.1-205
Reasonable time — seasonableness
(a) Whether a time for taking an action required by this chapter is reasonable depends on the nature, purpose, and circumstances of the action. (b) An action is taken seasonably if it is taken at or within the time agreed or, if no time is agreed, at or within a reasonable time.
Mo. Rev. Stat. § 400.1-206
Presumptions
Whenever this chapter creates a "presumption" with respect to a fact, or provides that a fact is "presumed", the trier of fact shall find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.
Mo. Rev. Stat. § 400.1-301
Territorial applicability — parties' power to choose applicable law
(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. (b) In the absence of an agreement effective u…
Mo. Rev. Stat. § 400.1-302
Variation by agreement
(a) Except as otherwise provided in subsection (b) or elsewhere in this chapter, the effect of provisions of this chapter may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by this chapter shall not be disclaimed by agreement. The parties, by agreement, may det…
Mo. Rev. Stat. § 400.1-303
Course of performance, course of dealing, and usage of trade
(a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) the agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) the other party, with knowledge of the nature of the performance and opp…
Mo. Rev. Stat. § 400.1-304
Obligation of good faith
Every contract or duty within this chapter imposes an obligation of good faith in its performance and enforcement.
Mo. Rev. Stat. § 400.1-305
Remedies to be liberally administered
(a) The remedies provided by this chapter shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed but neither consequential or special damages nor penal damages may be had except as specifically provided in this chapter or by other r…
Mo. Rev. Stat. § 400.1-306
Waiver of renunciation of claim of right after breach
A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record.
Mo. Rev. Stat. § 400.1-307
Prima facie evidence of third-party documents
A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of…
Mo. Rev. Stat. § 400.1-308
Performance or acceptance under reservation of rights
(a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as "without prejudice", "under protest", or the like are sufficient. (b) Subsection (a) does not a…
Mo. Rev. Stat. § 400.1-309
Option to accelerate at will
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure", or words of similar import, means that the party has power to do so only if that party in good faith believes th…
Mo. Rev. Stat. § 400.1-310
Subordinated obligations
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest a…
Mo. Rev. Stat. § 400.2-101
Short title
This article shall be known and may be cited as "Uniform Commercial Code — Sales".
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