The Uniform Commercial Code was designed in 1942 as a joint project between the American Law Institute and the National Conference of Commissioners of Uniform State Laws, in order to integrate existing laws into one set of laws governing sales. The basic premise on which the UCC is based is that commercial transactions are a single subject of the law, involving the sale of and payment for goods. This learning module presents a brief guide to the UCC, and descriptions and explanations of Article 2: Sales, Article 6: Bulk Sales and Article 9: Secured Transactions. After successful completion of this learning module the student should understand the history of the UCC, Article 2: Sales, Article 6: Bulk Sales, and Article 9: Secured Transactions.
Bruce Nathan, Esq. is currently a partner in the Bankruptcy, Financial Reorganization and Creditors’ Rights Group of the law firm of Lowenstein Sandler PC. Mr. Nathan concentrates on all aspects of creditors' rights and workouts in bankruptcy, out-of-court matters and other types of insolvency cases for secured creditors, creditors' committees, unsecured creditors, trustees and other creditors. Mr. Nathan is an active member of, and regular lecturer for, the National Association of Credit Management (NACM); is a member of NACM’s Editorial Advisory Board; is a frequent contributor to NACM’s Business Credit; is a contributing editor of NACM’s Manual of Credit and Commercial Laws; and co-authored The Bankruptcy Abuse Prevention And Consumer Protection Act of 2005: An Overhaul of U.S. Bankruptcy Law, published by NACM.