New York · statute · N.Y. Uniform Commercial Code Law · 732 active provisions
UNIFORM COMMERCIAL CODE ARTICLE 1 GENERAL PROVISIONS PART 1 SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF THE ACT Section 1--101. Short Title 1--102. Scope of Article 1--103. Construction of Uniform Commercial Code to Promote its Purposes and Policies; Applicability of Supplemental Principles of Law 1--1…
ARTICLE 1
PART 1 GENERAL PROVISIONS
Section 1--101. Short Titles. (a) This act may be cited as the Uniform Commercial Code. (b) This article may be cited as Uniform Commercial Code -- General Provisions.
Section 1--102. Scope of Article. This article applies to a transaction to the extent that it is governed by another article of this act.
Section 1--103. Construction of Uniform Commercial Code to Promote its Purposes and Policies; Applicability of Supplemental Principles of Law. (a) This act must be liberally construed and applied to promote its underlying purposes and policies, which are: (1) to simplify, clarify, and modernize the law governing commer…
Section 1--104. Construction Against Implied Repeal. This act being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
Section 1--105. Severability. If any provision or clause of this act or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of this act which can be given effect without the invalid provision or application, and to this end the provisions of thi…
Section 1--106. Use of Singular and Plural; Gender. In this act, 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.
Section 1--107. Section Captions. Section captions are part of this act. The subsection headings in article nine are not part of this act for purposes of construction.
Section 1--108. Relation to Electronic Signatures in Global and National Commerce Act. This article 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 article modifies, limits, or supersedes Section 7001(c)…
PART 2 GENERAL DEFINITIONS AND PRINCIPLES OF INTERPRETATION
Section 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 act that apply to particular articles or parts thereof, have the meanings stated. (b) Subject to definitions contained in other a…
Section 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…
Section 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 th…
Section 1--204. Value. Except as otherwise provided in articles 3, 4, 5, and 12 of this act a person gives value for rights if the person acquires them: (a) 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-bac…
Section 1--205. Reasonable Time; Seasonableness. (a) Whether a time for taking an action required by this act 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 t…
Section 1--206. Presumptions. Whenever this act creates a "presumption" with respect to a fact, or provides that a fact is "presumed," the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of its nonexistence.
Section 1--207. Statute of Frauds for Kinds of Personal Property Not Otherwise Covered. (a) Except in the cases described in subsection (b) of this section a contract for the sale of personal property is not enforceable by way of action or defense beyond five thousand dollars in amount or value of remedy unless there i…
PART 3 TERRITORIAL APPLICABILITY AND GENERAL RULES
Section 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…
Section 1--302. Variation by Agreement. (a) Except as otherwise provided in subsection (b) or elsewhere in this act, the effect of provisions of this act may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by this act may not be disclaimed by agreement. The part…
Section 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; an…
Section 1--304. Obligation of Good Faith. Every contract or duty within this act imposes an obligation of good faith in its performance and enforcement.
Section 1--305. Remedies to be Liberally Administered. (a) The remedies provided by this act must 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 s…