Uniform Commercial Code (UCC)
Definition - What does Uniform Commercial Code (UCC) mean?
The Uniform Commercial Code, or the UCC, is a series of laws that have been adopted by every state, except Louisiana, which cover a number of business issues. This code was created to make doing business across the nation easier and more efficient. Louisiana only accepts a part of the Universal Commercial Code.
Justipedia explains Uniform Commercial Code (UCC)
The Universal Commercial Code covers issues such as breaches of contract, warranties, loans, etc. The UCC provides standards and rules for all the states except Louisiana. The benefit is that a business in Wyoming would have the same standards as a business in Kentucky, etc. Creating universal standards and rules for commerce across America (except Louisiana) can make the process of doing cross-state business much simpler and easier to carry out. This can improve commercial efficiency in the nation.