Uniform Commercial Code and Common Law Contracts

1156 Words Jan 8th, 2018 5 Pages
The international trade part has in recent years raises the question as to whether states should change the laws or not. The current laws can bring about many issues causing the downfall of many large businesses. This makes it hard to conclude on the effect of U.C.C. on international commerce coming along with many factors depending on the side it leans more. Common law, on the other hand, is a legal system that involves matters such as jury trials, and presumption of innocence. The term common law defines a legal system commonly known as common law legal system (Smith, L., 2011). Various countries manage the common law legal system since the English legal system models their legal system. The common law legal system handles matters such as jury trials, and presumption of innocence. The Uniform Commercial Code is a business law that provides delineation concerning the passage of the title from the seller to the buyer.
Differences in UCC and Common Law Contracts Common law contract applies where there is a binding agreement between two or more parties. The Uniform Commercial Code contract does not involve private dealings between civilians. Contracts under the UCC involve gap filling provisions where parties leave a gap in the contract while common law contract does not allow…
Open Document