Title 7 — COMMERCIAL CODE.
- Article 1 — GENERAL PROVISIONS.
- Section 7-1-101 Short titles.
- Section 7-1-102 Scope of article.
- Section 7-1-103 Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law.
- Section 7-1-104 Construction against implied repeal.
- Section 7-1-105 Severability.
- Section 7-1-106 Use of singular and plural; gender.
- Section 7-1-107 Section captions.
- Section 7-1-108 Relation to electronic signatures in global and national commerce act.
- Section 7-1-109 Section captions.
- Section 7-1-201 General definitions.
- Section 7-1-202 Notice; knowledge.
- Section 7-1-203 Lease distinguished from security interest.
- Section 7-1-204 Value.
- Section 7-1-205 Reasonable time; seasonableness.
- Section 7-1-206 Presumptions.
- Section 7-1-207 Performance or acceptance under reservation of rights.
- Section 7-1-208 Option to accelerate at will.
- Section 7-1-301 Territorial applicability; parties' power to choose applicable law.
- Section 7-1-302 Variation by agreement.
- Section 7-1-303 Course of performance, course of dealing, and usage of trade.
- Section 7-1-304 Obligation of good faith.
- Section 7-1-305 Remedies to be liberally administered.
- Section 7-1-306 Waiver or renunciation of claim or right after breach.
- Section 7-1-307 Prima facie evidence by third-party documents.
- Section 7-1-308 Performance or acceptance under reservation of rights.
- Section 7-1-309 Option to accelerate at will.
- Section 7-1-310 Subordinated obligations.
- Article 2 — SALES.
- Section 7-2-101 Short title.
- Section 7-2-102 Scope; certain security and other transactions excluded from this article.
- Section 7-2-103 Definitions and index of definitions.
- Section 7-2-104 Definitions: "Merchant"; "between merchants"; "financing agency."
- Section 7-2-105 Definitions: "Transferability"; "goods"; "future goods"; "lot"; "commercial unit."
- Section 7-2-106 Definitions: "Contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation."
- Section 7-2-107 Goods to be severed from realty; recording.
- Section 7-2-201 Formal requirements; statute of frauds.
- Section 7-2-202 Final written expression: Parol or extrinsic evidence.
- Section 7-2-203 Seals inoperative.
- Section 7-2-204 Formation in general.
- Section 7-2-205 Firm offers.
- Section 7-2-206 Offer and acceptance in formation of contract.
- Section 7-2-207 Additional terms in acceptance or confirmation.
- Section 7-2-208 Course of performance or practical construction.
- Section 7-2-209 Modification, rescission and waiver.
- Section 7-2-210 Delegation of performance; assignment of rights.
- Section 7-2-301 General obligations of parties.
- Section 7-2-302 Unconscionable contract or clause.
- Section 7-2-303 Allocation or division of risks.
- Section 7-2-304 Price payable in money, goods, realty, or otherwise.
- Section 7-2-305 Open price term.
- Section 7-2-306 Output, requirements and exclusive dealings.
- Section 7-2-307 Delivery in single lot or several lots.
- Section 7-2-308 Absence of specified place for delivery.
- Section 7-2-309 Absence of specific time provisions; notice of termination.
- Section 7-2-310 Open time for payment or running of credit; authority to ship under reservation.
- Section 7-2-311 Options and cooperation respecting performance.
- Section 7-2-312 Warranty of title and against infringement; buyer's obligation against infringement.
- Section 7-2-313 Express warranties by affirmation, promise, description, sample.
- Section 7-2-314 Implied warranty: Merchantability; usage of trade; human blood and tissues.
- Section 7-2-315 Implied warranty: Fitness for particular purpose.
- Section 7-2-316 Exclusion or modification of warranties.
- Section 7-2-317 Cumulation and conflict of warranties express or implied.
- Section 7-2-318 Third-party beneficiaries of warranties express or implied.
- Section 7-2-319 F.O.B. and F.A.S. terms.
- Section 7-2-320 C.I.F. and C. & F. terms.
- Section 7-2-321 C.I.F. or C. & F.: "Net landed weights"; "payment on arrival"; warranty of condition on arrival.
- Section 7-2-322 Delivery "ex-ship".
- Section 7-2-323 Form of bill of lading required in overseas shipment; "overseas."
- Section 7-2-324 "No arrival, no sale" term.
- Section 7-2-325 "Letter of credit" term; "confirmed credit."
- Section 7-2-326 "Sale on approval" and "sale or return."
- Section 7-2-327 Special incidents of sale on approval and sale or return.
- Section 7-2-328 Sale by auction.
- Section 7-2-401 Passing of title; reservation for security; limited application of this section.
- Section 7-2-402 Rights of seller's creditors against sold goods.
- Section 7-2-403 Power to transfer; good faith purchase of goods; "entrusting."
- Section 7-2-501 Insurable interest in goods; manner of identification of goods.
- Section 7-2-502 Buyer's right to goods.
- Section 7-2-503 Manner of seller's tender of delivery.
- Section 7-2-504 Shipment by seller.
- Section 7-2-505 Seller's shipment under reservation.
- Section 7-2-506 Rights of financing agency.
- Section 7-2-507 Effect of seller's tender; delivery on condition.
- Section 7-2-508 Cure by seller of improper tender or delivery; replacement.
- Section 7-2-509 Risk of loss in the absence of breach.
- Section 7-2-510 Effect of breach on risk of loss.
- Section 7-2-511 Tender of payment by buyer; payment by check.
- Section 7-2-512 Payment by buyer before inspection.
- Section 7-2-513 Buyer's right to inspection of goods.
- Section 7-2-514 When documents deliverable on acceptance; when on payment.
- Section 7-2-515 Preserving evidence of goods in dispute.
- Section 7-2-601 Buyer's rights on improper delivery.
- Section 7-2-602 Manner and effect of rightful rejection.
- Section 7-2-603 Merchant buyer's duties as to rightfully rejected goods.
- Section 7-2-604 Buyer's options as to salvage of rightfully rejected goods.
- Section 7-2-605 Waiver of buyer's objections by failure to particularize.
- Section 7-2-606 What constitutes acceptance of goods.
- Section 7-2-607 Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over.
- Section 7-2-608 Revocation of acceptance in whole or in part.
- Section 7-2-609 Right to adequate assurance of performance.
- Section 7-2-610 Anticipatory repudiation.
- Section 7-2-611 Retraction of anticipatory repudiation.
- Section 7-2-612 "Installment contract"; breach.
- Section 7-2-613 Casualty to identified goods.
- Section 7-2-614 Substituted performance.
- Section 7-2-615 Excuse by failure of presupposed conditions.
- Section 7-2-616 Procedure on notice claiming excuse.
- Section 7-2-701 Remedies for breach of collateral contracts not impaired.
- Section 7-2-702 Seller's remedies on discovery of buyer's insolvency.
- Section 7-2-703 Seller's remedies in general.
- Section 7-2-704 Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods.
- Section 7-2-705 Seller's stoppage of delivery in transit or otherwise.
- Section 7-2-706 Seller's resale including contract for resale.
- Section 7-2-707 "Person in the position of a seller."
- Section 7-2-708 Seller's damages for nonacceptance or repudiation.
- Section 7-2-709 Action for the price.
- Section 7-2-710 Seller's incidental damages.
- Section 7-2-711 Buyer's remedies in general; buyer's security interest in rejected goods.
- Section 7-2-712 "Cover"; buyer's procurement of substitute goods.
- Section 7-2-713 Buyer's damages for nondelivery or repudiation.
- Section 7-2-714 Buyer's damages for breach in regard to accepted goods.
- Section 7-2-715 Buyer's incidental and consequential damages.
- Section 7-2-716 Buyer's right to specific performance or replevin.
- Section 7-2-717 Deduction of damages from the price.
- Section 7-2-718 Liquidation or limitation of damages; deposits.
- Section 7-2-719 Contractual modification or limitation of remedy.
- Section 7-2-720 Effect of "cancellation" or "rescission" on claims for antecedent breach.
- Section 7-2-721 Remedies for fraud.
- Section 7-2-722 Who can sue third parties for injury to goods.
- Section 7-2-723 Proof of market price: Time and place.
- Section 7-2-724 Admissibility of market quotations.
- Section 7-2-725 Statute of limitations in contracts for sale.
- Article 2A — LEASES.
- Section 7-2A-101 Short title.
- Section 7-2A-102 Scope.
- Section 7-2A-103 Definitions and index of definitions.
- Section 7-2A-104 Leases subject to other statutes.
- Section 7-2A-105 Territorial application of article to goods covered by certificate of title.
- Section 7-2A-106 Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
- Section 7-2A-107 Waiver or renunciation of claim or right after default.
- Section 7-2A-108 Unconscionability.
- Section 7-2A-109 Option to accelerate at will.
- Section 7-2A-201 Statute of frauds.
- Section 7-2A-202 Final written expression: parol or extrinsic evidence.
- Section 7-2A-203 Seals inoperative.
- Section 7-2A-204 Formation in general.
- Section 7-2A-205 Firm offers.
- Section 7-2A-206 Offer and acceptance in formation of lease contract.
- Section 7-2A-207 Course of performance or practical construction.
- Section 7-2A-208 Modification, rescission and waiver.
- Section 7-2A-209 Lessee under finance lease as beneficiary of supply contract.
- Section 7-2A-210 Express warranties.
- Section 7-2A-211 Warranties against interference and against infringement; lessee's obligation against infringement.
- Section 7-2A-212 Implied warranty of merchantability.
- Section 7-2A-213 Implied warranty of fitness for particular purpose.
- Section 7-2A-214 Exclusion or modification of warranties.
- Section 7-2A-215 Cumulation and conflict of warranties express or implied.
- Section 7-2A-216 Third-party beneficiaries of express and implied warranties.
- Section 7-2A-217 Identification.
- Section 7-2A-218 Insurance and proceeds.
- Section 7-2A-219 Risk of loss.
- Section 7-2A-220 Effect of default on risk of loss.
- Section 7-2A-221 Casualty to identified goods.
- Section 7-2A-301 Enforceability of lease contract.
- Section 7-2A-302 Title to and possession of goods.
- Section 7-2A-303 Alienability of interests, transfer of rights, etc.
- Section 7-2A-304 Subsequent lease of goods by lessor.
- Section 7-2A-305 Sale or sublease of goods by lessee.
- Section 7-2A-306 Priority of certain liens arising by operation of law.
- Section 7-2A-307 Priority over lease contract.
- Section 7-2A-308 Special rights of creditors.
- Section 7-2A-309 Lessor's and lessee's rights when goods become fixtures.
- Section 7-2A-310 Lessor's and lessee's rights when goods become accessions.
- Section 7-2A-311 Priority subject to subordination.
- Section 7-2A-401 Insecurity: Adequate assurance of performance.
- Section 7-2A-402 Anticipatory repudiation.
- Section 7-2A-403 Retraction of anticipatory repudiation.
- Section 7-2A-404 Substituted performance.
- Section 7-2A-405 Excused performance.
- Section 7-2A-406 Procedure on excused performance.
- Section 7-2A-407 Irrevocable promises: Finance leases.
- Section 7-2A-501 Default: Procedure.
- Section 7-2A-502 Notice after default.
- Section 7-2A-503 Modification or impairment of rights and remedies.
- Section 7-2A-504 Liquidation of damages.
- Section 7-2A-505 Cancellation and termination and effect of cancellation, termination, rescission, or fraud on rights and remedies.
- Section 7-2A-506 Statute of limitations.
- Section 7-2A-507 Proof of market rent: Time and place.
- Section 7-2A-508 Lessee's remedies.
- Section 7-2A-509 Lessee's rights on improper delivery; rightful rejection.
- Section 7-2A-510 Installment lease contracts: Rejection and default.
- Section 7-2A-511 Merchant lessee's duties as to rightfully rejected goods.
- Section 7-2A-512 Lessee's duties as to rightfully rejected goods.
- Section 7-2A-513 Cure by lessor of improper tender or delivery; replacement.
- Section 7-2A-514 Waiver of lessee's objections.
- Section 7-2A-515 Acceptance of goods.
- Section 7-2A-516 Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
- Section 7-2A-517 Revocation of acceptance of goods.
- Section 7-2A-518 Cover; substitute goods.
- Section 7-2A-519 Lessee's damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods.
- Section 7-2A-520 Lessee's incidental and consequential damages.
- Section 7-2A-521 Lessee's right to specific performance or replevin.
- Section 7-2A-522 Lessee's right to goods on lessor's insolvency.
- Section 7-2A-523 Lessor's remedies.
- Section 7-2A-524 Lessor's right to identify goods to lease contract.
- Section 7-2A-525 Lessor's right to possession of goods.
- Section 7-2A-526 Lessor's stoppage of delivery in transit or otherwise.
- Section 7-2A-527 Lessor's rights to dispose of goods.
- Section 7-2A-528 Lessor's damages for nonacceptance, failure to pay, repudiation, or other default.
- Section 7-2A-529 Lessor's action for the rent.
- Section 7-2A-530 Lessor's incidental damages.
- Section 7-2A-531 Standing to sue third parties for injury to goods.
- Section 7-2A-532 Lessor's rights to residual interest.
- Article 3 — NEGOTIABLE INSTRUMENTS.
- Section 7-3-101 Short title.
- Section 7-3-102 Subject matter.
- Section 7-3-103 Definitions.
- Section 7-3-104 Negotiable instrument.
- Section 7-3-105 Issue of instrument.
- Section 7-3-106 Unconditional promise or order.
- Section 7-3-107 Instrument payable in foreign money.
- Section 7-3-108 Payable on demand or at definite time.
- Section 7-3-109 Payable to bearer or to order.
- Section 7-3-110 Identification of person to whom instrument is payable.
- Section 7-3-111 Place of payment.
- Section 7-3-112 Interest.
- Section 7-3-113 Date of instrument.
- Section 7-3-114 Contradictory terms of instrument.
- Section 7-3-115 Incomplete instrument.
- Section 7-3-116 Joint and several liability; contribution.
- Section 7-3-117 Other agreements affecting instrument.
- Section 7-3-118 Statute of limitations.
- Section 7-3-119 Notice of right to defend action.
- Section 7-3-201 Negotiation.
- Section 7-3-202 Negotiation subject to rescission.
- Section 7-3-203 Transfer of instrument; rights acquired by transfer.
- Section 7-3-204 Indorsement.
- Section 7-3-205 Special indorsement; blank indorsement; anomalous indorsement.
- Section 7-3-206 Restrictive indorsement.
- Section 7-3-207 Reacquisition.
- Section 7-3-301 Person entitled to enforce instrument.
- Section 7-3-302 Holder in due course.
- Section 7-3-303 Value and consideration.
- Section 7-3-304 Overdue instrument.
- Section 7-3-305 Defenses and claims in recoupment.
- Section 7-3-306 Claims to an instrument.
- Section 7-3-307 Notice of breach of fiduciary duty.
- Section 7-3-308 Proof of signatures and status as holder in due course.
- Section 7-3-309 Enforcement of lost, destroyed, or stolen instrument.
- Section 7-3-310 Effect of instrument on obligation for which taken.
- Section 7-3-311 Accord and satisfaction by use of instrument.
- Section 7-3-312 Lost, destroyed, or stolen cashier's check, teller's check, or certified check.
- Section 7-3-401 Signature.
- Section 7-3-402 Signature by representative.
- Section 7-3-403 Unauthorized signature.
- Section 7-3-404 Impostors; fictitious payees.
- Section 7-3-405 Employer's responsibility for fraudulent indorsement by employee.
- Section 7-3-406 Negligence contributing to forged signature or alteration of instrument.
- Section 7-3-407 Alteration.
- Section 7-3-408 Drawee not liable on unaccepted draft.
- Section 7-3-409 Acceptance of draft; certified check.
- Section 7-3-410 Acceptance varying draft.
- Section 7-3-411 Refusal to pay cashier's checks, teller's checks, and certified checks.
- Section 7-3-412 Obligation of issuer of note or cashier's check.
- Section 7-3-413 Obligation of acceptor.
- Section 7-3-414 Obligation of drawer.
- Section 7-3-415 Obligation of indorser.
- Section 7-3-416 Transfer warranties.
- Section 7-3-417 Presentment warranties.
- Section 7-3-418 Payment or acceptance by mistake.
- Section 7-3-419 Instruments signed for accommodation.
- Section 7-3-420 Conversion of instrument.
- Section 7-3-501 Presentment.
- Section 7-3-502 Dishonor.
- Section 7-3-503 Notice of dishonor.
- Section 7-3-504 Excused presentment and notice of dishonor.
- Section 7-3-505 Evidence of dishonor.
- Section 7-3-601 Discharge and effect of discharge.
- Section 7-3-602 Payment.
- Section 7-3-603 Tender of payment.
- Section 7-3-604 Discharge by cancellation or renunciation.
- Section 7-3-605 Discharge of indorsers and accommodation parties.
- Article 4 — BANK DEPOSITS AND COLLECTIONS.
- Section 7-4-101 Short title.
- Section 7-4-102 Applicability.
- Section 7-4-103 Variation by agreement; measure of damages; action constituting ordinary care.
- Section 7-4-104 Definitions and index of definitions.
- Section 7-4-105 "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank."
- Section 7-4-106 Payable through or payable at bank; collecting bank.
- Section 7-4-107 Separate office of bank.
- Section 7-4-108 Time of receipt of items.
- Section 7-4-109 Delays.
- Section 7-4-110 Electronic presentment.
- Section 7-4-111 Statute of limitations; accrual of action.
- Section 7-4-201 Status of collecting bank as agent and provisional status of credits, applicability of article; item indorsed "pay any bank."
- Section 7-4-202 Responsibility for collection or return; when action timely.
- Section 7-4-203 Effect of instructions.
- Section 7-4-204 Methods of sending and presenting; sending directly to payor bank.
- Section 7-4-205 Depositary bank holder of unindorsed item.
- Section 7-4-206 Transfer between banks.
- Section 7-4-207 Transfer warranties.
- Section 7-4-208 Presentment warranties.
- Section 7-4-209 Encoding and retention warranties.
- Section 7-4-210 Security interest of collecting bank in items, accompanying documents, and proceeds.
- Section 7-4-211 When bank gives value for purposes of holder in due course.
- Section 7-4-212 Presentment by notice of item not payable by, through, or at bank; liability of drawer or indorser.
- Section 7-4-213 Medium and time of settlement by bank.
- Section 7-4-214 Right of charge-back or refund; liability of collecting bank; return of item.
- Section 7-4-215 Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal.
- Section 7-4-216 Insolvency and preference.
- Section 7-4-301 Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank.
- Section 7-4-302 Payor bank's responsibility for late return of item.
- Section 7-4-303 When items subject to notice, stop-payment order, legal process, or setoff; order in which items may be charged or certified.
- Section 7-4-401 When bank may charge customer's account.
- Section 7-4-402 Bank's liability to customer for wrongful dishonor; time of determining insufficiency of account.
- Section 7-4-403 Customer's right to stop payment; burden of proof of loss.
- Section 7-4-404 Bank not obligated to pay check more than six months old.
- Section 7-4-405 Death or incompetence of customer.
- Section 7-4-406 Customer's duty to discover and report unauthorized signature or alteration.
- Section 7-4-407 Payor bank's right to subrogation on improper payment.
- Section 7-4-501 Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor.
- Section 7-4-502 Presentment of "on arrival" drafts.
- Section 7-4-503 Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need.
- Section 7-4-504 Privilege of presenting bank to deal with goods; security interest for expenses.
- Article 4A — FUNDS TRANSFERS.
- Section 7-4A-101 Short title.
- Section 7-4A-102 Subject matter.
- Section 7-4A-103 Payment order - Definitions.
- Section 7-4A-104 Funds transfer - Definitions.
- Section 7-4A-105 Other definitions.
- Section 7-4A-106 Time payment order is received.
- Section 7-4A-107 Federal Reserve regulations and operating circulars.
- Section 7-4A-108 Exclusion of consumer transactions governed by federal law.
- Section 7-4A-201 Security procedure.
- Section 7-4A-202 Authorized and verified payment orders.
- Section 7-4A-203 Unenforceability of certain verified payment orders.
- Section 7-4A-204 Refund of payment and duty of customer to report with respect to unauthorized payment order.
- Section 7-4A-205 Erroneous payment orders.
- Section 7-4A-206 Transmission of payment order through funds-transfer or other communication system.
- Section 7-4A-207 Misdescription of beneficiary.
- Section 7-4A-208 Misdescription of intermediary bank or beneficiary's bank.
- Section 7-4A-209 Acceptance of payment order.
- Section 7-4A-210 Rejection of payment order.
- Section 7-4A-211 Cancellation and amendment of payment order.
- Section 7-4A-212 Liability and duty of receiving bank regarding unaccepted payment order.
- Section 7-4A-301 Execution and execution date.
- Section 7-4A-302 Obligations of receiving bank in execution of payment order.
- Section 7-4A-303 Erroneous execution of payment order.
- Section 7-4A-304 Duty of sender to report erroneously executed payment order.
- Section 7-4A-305 Liability for late or improper execution or failure to execute payment order.
- Section 7-4A-401 Payment date.
- Section 7-4A-402 Obligation of sender to pay receiving bank.
- Section 7-4A-403 Payment by sender to receiving bank.
- Section 7-4A-404 Obligation of beneficiary's bank to pay and give notice to beneficiary.
- Section 7-4A-405 Payment by beneficiary's bank to beneficiary.
- Section 7-4A-406 Payment by originator to beneficiary; discharge of underlying obligation.
- Section 7-4A-501 Variation by agreement and effect of funds-transfer system rule.
- Section 7-4A-502 Creditor process served on receiving bank; setoff by beneficiary's bank.
- Section 7-4A-503 Injunction or restraining order with respect to funds transfer.
- Section 7-4A-504 Order in which items and payment orders may be charged to account; order of withdrawals from account.
- Section 7-4A-505 Preclusion of objection to debit of customer's account.
- Section 7-4A-506 Rate of interest.
- Section 7-4A-507 Choice of law.
- Section 7-4A-601 Uniformity of application and construction.
- Article 5 — LETTERS OF CREDIT.
- Section 7-5-101 Short title.
- Section 7-5-102 Definitions.
- Section 7-5-103 Scope.
- Section 7-5-104 Formal requirements.
- Section 7-5-105 Consideration.
- Section 7-5-106 Issuance, amendment, cancellation, and duration.
- Section 7-5-107 Confirmer, nominated person, and adviser.
- Section 7-5-108 Issuer's rights and obligations.
- Section 7-5-109 Fraud and forgery.
- Section 7-5-110 Warranties.
- Section 7-5-111 Remedies.
- Section 7-5-112 Transfer of letter of credit.
- Section 7-5-113 Transfer by operation of law.
- Section 7-5-114 Assignment of proceeds.
- Section 7-5-115 Statute of limitations.
- Section 7-5-116 Choice of law and forum.
- Section 7-5-117 Subrogation of issuer, applicant, and nominated person.
- Section 7-5-118 Security interest of issuer or nominated person.
- Article 7 — WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE.
- Section 7-7-101 Short title.
- Section 7-7-102 Definitions and index of definitions.
- Section 7-7-103 Relation of article to treaty or statute.
- Section 7-7-104 Negotiable and nonnegotiable document of title.
- Section 7-7-105 Reissuance in alternative medium.
- Section 7-7-106 Control of electronic document of title.
- Section 7-7-201 Person that may issue a warehouse receipt; storage under bond.
- Section 7-7-202 Form of warehouse receipt; effect of omission.
- Section 7-7-203 Liability for nonreceipt or misdescription.
- Section 7-7-204 Duty of care; contractual limitation of warehouse's liability.
- Section 7-7-205 Title under warehouse receipt defeated in certain cases.
- Section 7-7-206 Termination of storage at warehouse's option.
- Section 7-7-207 Goods must be kept separate; fungible goods.
- Section 7-7-208 Altered warehouse receipts.
- Section 7-7-209 Lien of warehouse.
- Section 7-7-210 Enforcement of warehouse's lien.
- Section 7-7-301 Liability for nonreceipt or misdescription; "said to contain"; "shipper's weight, load, and count"; improper handling.
- Section 7-7-302 Through bills of lading and similar documents of title.
- Section 7-7-303 Diversion; reconsignment; change of instructions.
- Section 7-7-304 Tangible bills of lading in a set.
- Section 7-7-305 Destination bills.
- Section 7-7-306 Altered bills of lading.
- Section 7-7-307 Lien of carrier.
- Section 7-7-308 Enforcement of carrier's lien.
- Section 7-7-309 Duty of care; contractual limitation of carrier's liability.
- Section 7-7-401 Irregularities in issue of receipt or bill or conduct of issuer.
- Section 7-7-402 Duplicate document of title; overissue.
- Section 7-7-403 Obligation of bailee to deliver; excuse.
- Section 7-7-404 No liability for good faith delivery pursuant to document of title.
- Section 7-7-501 Form of negotiation and requirements of due negotiation.
- Section 7-7-502 Rights acquired by due negotiation.
- Section 7-7-503 Document of title to goods defeated in certain cases.
- Section 7-7-504 Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.
- Section 7-7-505 Indorser not guarantor for other parties.
- Section 7-7-506 Delivery without indorsement: right to compel indorsement.
- Section 7-7-507 Warranties on negotiation or delivery of document of title.
- Section 7-7-508 Warranties of collecting bank as to documents of title.
- Section 7-7-509 Adequate compliance with commercial contract.
- Section 7-7-601 Lost, stolen, or destroyed documents of title.
- Section 7-7-602 Judicial process against goods covered by negotiable document of title.
- Section 7-7-603 Conflicting claims; interpleader.
- Section 7-7-701 Effective date.
- Section 7-7-702 Repeals.
- Section 7-7-703 Applicability.
- Section 7-7-704 Savings clause.
- Article 8 — INVESTMENT SECURITIES.
- Section 7-8-101 Short title.
- Section 7-8-102 Definitions.
- Section 7-8-103 Rules for determining whether certain obligations and interests are securities or financial assets.
- Section 7-8-104 Acquisition of security or financial asset or interest therein.
- Section 7-8-105 Notice of adverse claim.
- Section 7-8-106 Control.
- Section 7-8-107 Whether indorsement, instruction, or entitlement order is effective.
- Section 7-8-108 Warranties in direct holding.
- Section 7-8-109 Warranties in indirect holding.
- Section 7-8-110 Applicability; choice of law.
- Section 7-8-111 Clearing corporation rules.
- Section 7-8-112 Creditor's legal process.
- Section 7-8-113 Statute of frauds inapplicable.
- Section 7-8-114 Evidentiary rules concerning certificated securities.
- Section 7-8-115 Securities intermediary and others not liable to adverse claimant.
- Section 7-8-116 Securities intermediary as purchaser for value.
- Section 7-8-201 Issuer.
- Section 7-8-202 Issuer's responsibility and defenses; notice of defect or defense.
- Section 7-8-203 Staleness as notice of defect or defense.
- Section 7-8-204 Effect of issuer's restriction on transfer.
- Section 7-8-205 Effect of unauthorized signature on security certificate.
- Section 7-8-206 Completion or alteration of security certificate.
- Section 7-8-207 Rights and duties of issuer with respect to registered owners.
- Section 7-8-208 Effect of signature of authenticating trustee, registrar, or transfer agent.
- Section 7-8-209 Issuer's lien.
- Section 7-8-210 Overissue.
- Section 7-8-301 Delivery.
- Section 7-8-302 Rights of purchaser.
- Section 7-8-303 Protected purchaser.
- Section 7-8-304 Indorsement.
- Section 7-8-305 Instruction.
- Section 7-8-306 Effect of guaranteeing signature, indorsement, or instruction.
- Section 7-8-307 Purchaser's right to requisites for registration of transfer.
- Section 7-8-401 Duty of issuer to register transfer.
- Section 7-8-402 Assurance that indorsement or instruction is effective.
- Section 7-8-403 Demand that issuer not register transfer.
- Section 7-8-404 Wrongful registration.
- Section 7-8-405 Replacement of lost, destroyed, or wrongfully taken security certificate.
- Section 7-8-406 Obligation to notify issuer of lost, destroyed, or wrongfully taken security certificate.
- Section 7-8-407 Authenticating trustee, transfer agent, and registrar.
- Section 7-8-501 Securities account; acquisition of security entitlement from securities intermediary.
- Section 7-8-502 Assertion of adverse claim against entitlement holder.
- Section 7-8-503 Property interest of entitlement holder in financial asset held by securities intermediary.
- Section 7-8-504 Duty of securities intermediary to maintain financial asset.
- Section 7-8-505 Duty of securities intermediary with respect to payments and distributions.
- Section 7-8-506 Duty of securities intermediary to exercise rights as directed by entitlement holder.
- Section 7-8-507 Duty of securities intermediary to comply with entitlement order.
- Section 7-8-508 Duty of securities intermediary to change entitlement holder's position to other form of security holding.
- Section 7-8-509 Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement hold
- Section 7-8-510 Rights of purchaser of security entitlement from entitlement holder.
- Section 7-8-511 Priority among security interests and entitlement holders.
- Section 7-8-601 Effective date.
- Section 7-8-602 Repeals.
- Section 7-8-603 Savings clause.
- Article 9 — SECURED TRANSACTIONS; SALES OF ACCOUNTS AND CHATTEL PAPER.
- Section 7-9-101 Short title.
- Section 7-9-102 Policy and subject matter of article.
- Section 7-9-103 Perfection of security interests in multiple state transactions.
- Section 7-9-104 Transactions excluded from article.
- Section 7-9-105 Definitions and index of definitions.
- Section 7-9-106 Definitions: "Account"; "general intangibles."
- Section 7-9-107 Definitions: "Purchase money security interest."
- Section 7-9-108 When after-acquired collateral not security for antecedent debt.
- Section 7-9-109 Classification of goods; "consumer goods"; "equipment"; "farm products"; "inventory".
- Section 7-9-110 Sufficiency of description.
- Section 7-9-111 Applicability of bulk transfer laws.
- Section 7-9-112 Where collateral is not owned by debtor.
- Section 7-9-113 Security interests arising under the article on sales or under the article on leases.
- Section 7-9-114 Consignment.
- Section 7-9-115 Investment property.
- Section 7-9-116 Security interest arising in purchase or delivery of financial asset.
- Section 7-9-201 General validity of security agreement.
- Section 7-9-202 Title to collateral immaterial.
- Section 7-9-203 Attachment and enforceability of security interest; proceeds; formal requisites.
- Section 7-9-204 After-acquired property; future advances.
- Section 7-9-205 Use or disposition of collateral without accounting permissible.
- Section 7-9-206 Agreement not to assert defenses against assignee; modification of sales warranties where security agreement exists.
- Section 7-9-207 Rights and duties when collateral is in secured party's possession.
- Section 7-9-208 Request for statement of account or list of collateral.
- Section 7-9-301 Persons who take priority over unperfected security interests; "lien creditor."
- Section 7-9-302 When filing is required to perfect security interest; security interests to which filing provisions of this article do not apply.
- Section 7-9-303 When security interest is perfected; continuity of perfection.
- Section 7-9-304 Perfection of security interest in instruments, documents, proceeds of a written letter of credit, and goods covered by documents; perfection by permissive filing; temporary perfection
- Section 7-9-305 When possession by secured party perfects security interest without filing.
- Section 7-9-306 "Proceeds"; secured party's rights on disposition of collateral.
- Section 7-9-307 Protection of buyer of goods.
- Section 7-9-308 Purchase of chattel paper and instruments.
- Section 7-9-309 Protection of purchasers of instruments and documents.
- Section 7-9-310 Priority of certain liens arising by operation of law; landlord's lien.
- Section 7-9-311 Alienability of debtor's rights: Judicial process.
- Section 7-9-312 Priorities among conflicting security interests in the same collateral.
- Section 7-9-313 Priority of security interests in fixtures.
- Section 7-9-314 Accessions.
- Section 7-9-315 Priority when goods are commingled or processed.
- Section 7-9-316 Priority subject to subordination.
- Section 7-9-317 Secured party not obligated on contract of debtor.
- Section 7-9-318 Defenses against assignee; modification of contract after notification of assignment; term prohibiting assignment ineffective; identification and proof of assignment.
- Section 7-9-401 Place of filing; erroneous filing; removal of collateral.
- Section 7-9-402 Formal requisites of financing statement; amendments; mortgage as financing statement.
- Section 7-9-403 What constitutes filing; duration of filing; effect of lapsed filing; duties of filing officer.
- Section 7-9-404 Termination statement.
- Section 7-9-405 Assignment of security interest; duties of filing officer; fees.
- Section 7-9-406 Release of collateral; duties of filing officer; fees.
- Section 7-9-407 Information from filing officer.
- Section 7-9-408 Financing statements covering consigned or leased goods.
- Section 7-9-409 Prescribed fees in lieu of all others.
- Section 7-9-410 Rules and regulations and fees to implement central filing system; user and public training as to Uniform Commercial Code and Farm Products Central Index System Program.
- Section 7-9-501 Default; procedure when security agreement covers both real and personal property.
- Section 7-9-502 Collection rights of secured party.
- Section 7-9-503 Secured party's right to take possession after default.
- Section 7-9-504 Secured party's right to dispose of collateral after default; effect of disposition.
- Section 7-9-505 Compulsory disposition of collateral; acceptance of the collateral as discharge of obligation.
- Section 7-9-506 Debtor's right to redeem collateral.
- Section 7-9-507 Secured party's liability for failure to comply with this part.
- Article 9A — Secured Transactions.
- Section 7-9A-101 Short title.
- Section 7-9A-102 Definitions and index of definitions.
- Section 7-9A-103 Purchase-money security interest; application of payments; burden of establishing.
- Section 7-9A-104 Control of deposit account.
- Section 7-9A-105 Control of electronic chattel paper.
- Section 7-9A-106 Control of investment property.
- Section 7-9A-107 Control of letter-of-credit right.
- Section 7-9A-108 Sufficiency of description.
- Section 7-9A-109 Scope.
- Section 7-9A-110 Security interests arising under Article 2 or 2A.
- Section 7-9A-201 General effectiveness of security agreement.
- Section 7-9A-202 Title to collateral immaterial.
- Section 7-9A-203 Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites.
- Section 7-9A-204 After-acquired property; future advances.
- Section 7-9A-205 Use or disposition of collateral permissible.
- Section 7-9A-206 Security interest arising in purchase or delivery of financial asset.
- Section 7-9A-207 Rights and duties of secured party having possession or control of collateral.
- Section 7-9A-208 Additional duties of secured party having control of collateral.
- Section 7-9A-209 Duties of secured party if account debtor has been notified of assignment.
- Section 7-9A-210 Request for accounting; request regarding list of collateral or statement of account.
- Section 7-9A-301 Law governing perfection and priority of security interests.
- Section 7-9A-302 Law governing perfection and priority of agricultural liens.
- Section 7-9A-303 Law governing perfection and priority of security interests in goods covered by a certificate of title.
- Section 7-9A-304 Law governing perfection and priority of security interests in deposit accounts.
- Section 7-9A-305 Law governing perfection and priority of security interests in investment property.
- Section 7-9A-306 Law governing perfection and priority of security interests in letter-of-credit rights.
- Section 7-9A-307 Location of debtor.
- Section 7-9A-308 When security interest or agricultural lien is perfected; continuity of perfection.
- Section 7-9A-309 Security interest perfected upon attachment.
- Section 7-9A-310 When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply.
- Section 7-9A-311 Perfection of security interests in property subject to certain statutes, regulations, and treaties.
- Section 7-9A-312 Perfection of certain security interests by filing; temporary perfection.
- Section 7-9A-313 When possession by or delivery to secured party perfects security interest without filing.
- Section 7-9A-314 Perfection by control.
- Section 7-9A-315 Secured party's rights on disposition of collateral and in proceeds.
- Section 7-9A-316 Continued perfection of security interest following change in governing law.
- Section 7-9A-317 Interests that take priority over or take free of security interest or agricultural lien.
- Section 7-9A-318 No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers.
- Section 7-9A-319 Rights and title of consignee with respect to creditors and purchasers.
- Section 7-9A-320 Buyer of goods; Alabama Farmers Credit Protection Fund.
- Section 7-9A-321 Licensee of general intangible and lessee of goods in ordinary course of business.
- Section 7-9A-322 Priorities among conflicting security interests in and agricultural liens on same collateral.
- Section 7-9A-323 Future advances.
- Section 7-9A-324 Priority of purchase-money security interests.
- Section 7-9A-325 Priority of security interests in transferred collateral.
- Section 7-9A-326 Priority of security interests created by new debtor.
- Section 7-9A-327 Priority of security interests in deposit account.
- Section 7-9A-328 Priority of security interests in investment property.
- Section 7-9A-329 Priority of security interests in letter-of-credit right.
- Section 7-9A-330 Priority of purchaser of chattel paper or instrument.
- Section 7-9A-331 Priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in financial assets and security entitlements under Article 8.
- Section 7-9A-332 Transfer of money; transfer of funds from deposit account.
- Section 7-9A-333 Priority of certain liens arising by operation of law.
- Section 7-9A-334 Priority of security interests in fixtures and crops.
- Section 7-9A-335 Accessions.
- Section 7-9A-336 Commingled goods.
- Section 7-9A-337 Priority of security interests in goods covered by certificate of title.
- Section 7-9A-338 Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information.
- Section 7-9A-339 Priority subject to subordination.
- Section 7-9A-340 Effectiveness of right of recoupment or set-off against deposit account.
- Section 7-9A-341 Bank's rights and duties with respect to deposit account.
- Section 7-9A-342 Bank's right to refuse to enter into or disclose existence of control agreement.
- Section 7-9A-401 Alienability of debtor's rights.
- Section 7-9A-402 Secured party not obligated on contract of debtor or in tort.
- Section 7-9A-403 Agreement not to assert defenses against assignee.
- Section 7-9A-404 Rights acquired by assignee; claims and defenses against assignee.
- Section 7-9A-405 Modification of assigned contract.
- Section 7-9A-406 Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles, and promis
- Section 7-9A-407 Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest.
- Section 7-9A-408 Restrictions on assignment of promissory notes, health-care-insurance receivables, and certain general intangibles ineffective.
- Section 7-9A-409 Restrictions on assignment of letter-of-credit rights ineffective.
- Section 7-9A-501 Filing office.
- Section 7-9A-502 Contents of financing statement; record of mortgage as financing statement; time of filing financing statement.
- Section 7-9A-503 Name of debtor and secured party.
- Section 7-9A-504 Indication of collateral.
- Section 7-9A-505 Filing and compliance with other statutes and treaties for consignments, leases, other bailments, and other transactions.
- Section 7-9A-506 Effect of errors or omissions.
- Section 7-9A-507 Effect of certain events on effectiveness of financing statement.
- Section 7-9A-508 Effectiveness of financing statement if new debtor becomes bound by security agreement.
- Section 7-9A-509 Persons entitled to file a record.
- Section 7-9A-510 Effectiveness of filed record.
- Section 7-9A-511 Secured party of record.
- Section 7-9A-512 Amendment of financing statement.
- Section 7-9A-513 Termination statement.
- Section 7-9A-514 Assignment of powers of secured party of record.
- Section 7-9A-515 Duration and effectiveness of financing statement; effect of lapsed financing statement.
- Section 7-9A-516 What constitutes filing; effectiveness of filing.
- Section 7-9A-517 Effect of indexing errors.
- Section 7-9A-518 Claim concerning inaccurate or wrongfully filed record.
- Section 7-9A-519 Numbering, maintaining, and indexing records; communicating information provided in records.
- Section 7-9A-520 Acceptance and refusal to accept record.
- Section 7-9A-521 Uniform form of written financing statement and amendment.
- Section 7-9A-522 Maintenance and destruction of records.
- Section 7-9A-523 Information from filing office; sale or license of records.
- Section 7-9A-524 Delay by filing office.
- Section 7-9A-525 Fees.
- Section 7-9A-526 Filing-office rules.
- Section 7-9A-601 Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes.
- Section 7-9A-602 Waiver and variance of rights and duties.
- Section 7-9A-603 Agreement on standards concerning rights and duties.
- Section 7-9A-604 Procedure if security agreement covers real property or fixtures.
- Section 7-9A-605 Unknown debtor or secondary obligor.
- Section 7-9A-606 Time of default for agricultural lien.
- Section 7-9A-607 Collection and enforcement by secured party.
- Section 7-9A-608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus.
- Section 7-9A-609 Secured party's right to take possession after default.
- Section 7-9A-610 Disposition of collateral after default.
- Section 7-9A-611 Notification before disposition of collateral.
- Section 7-9A-612 Timeliness of notification before disposition of collateral.
- Section 7-9A-613 Contents and form of notification before disposition of collateral: General.
- Section 7-9A-614 Contents and form of notification before disposition of collateral: Consumer-goods transaction.
- Section 7-9A-615 Application of proceeds of disposition; liability for deficiency and right to surplus.
- Section 7-9A-616 Explanation of calculation of surplus or deficiency.
- Section 7-9A-617 Rights of transferee of collateral.
- Section 7-9A-618 Rights and duties of certain secondary obligors.
- Section 7-9A-619 Transfer of record or legal title.
- Section 7-9A-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral.
- Section 7-9A-621 Notification of proposal to accept collateral.
- Section 7-9A-622 Effect of acceptance of collateral.
- Section 7-9A-623 Right to redeem collateral.
- Section 7-9A-624 Waiver.
- Section 7-9A-625 Remedies for secured party's failure to comply with article.
- Section 7-9A-626 Action in which deficiency or surplus is in issue.
- Section 7-9A-627 Determination of whether conduct was commercially reasonable.
- Section 7-9A-628 Nonliability and limitation on liability of secured party; liability of secondary obligor.
- Section 7-9A-701 Effective date.
- Section 7-9A-702 Savings clause.
- Section 7-9A-703 Security interest perfected before January 1, 2002.
- Section 7-9A-704 Security interest unperfected before January 1, 2002.
- Section 7-9A-705 Effectiveness of action taken before January 1, 2002.
- Section 7-9A-706 When initial financing statement suffices to continue effectiveness of financing statement.
- Section 7-9A-707 Amendment of pre-effective-date financing statement.
- Section 7-9A-708 Persons entitled to file initial financing statement or continuation statement.
- Section 7-9A-709 Priority.
- Article 10 — EFFECTIVE DATE AND REPEALER.
- Article 11 — EFFECTIVE DATE AND TRANSITION PROVISIONS.
- Section 7-11-101 Effective date; definitions.
- Section 7-11-102 Preservation of old transition provision.
- Section 7-11-103 Transition to new U.C.C. - General rule.
- Section 7-11-104 Transition provision on change of requirement of filing.
- Section 7-11-105 Transition provision on change of place of filing.
- Section 7-11-106 Required refilings.
- Section 7-11-107 Transition provisions as to priorities.
- Section 7-11-108 Presumption that rule of law continues unchanged.