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25,400 statutes · page 56 of 1270
United States — Maine legislation
20 statutes shown from 25,400 source-backed records
The Uniform Commercial Code must be liberally construed and applied to promote its purposes and policies; if not displaced by specific UCC provisions, supplemental principles of law and equity apply.
Subsequent legislation should not be read to impliedly repeal any part of the Uniform Commercial Code if a reasonable construction can avoid that result.
If any provision or clause of the Uniform Commercial Code or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Uniform Commercial Code that can be given
In the Uniform Commercial Code, unless the statutory context otherwise requires: [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, §4 (AFF).] (1). Words in the singular number include the plural and those in the plural include the
Section captions are part of the Uniform Commercial Code. [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, §4 (AFF).]
This Article overrides the federal Electronic Signatures in Global and National Commerce Act, but not Section 7001(c), and it does not authorize electronic delivery of notices described in Section 7003(b).
This section defines many terms used in the Uniform Commercial Code, including “buyer in ordinary course of business,” “document of title,” “record,” and “sign.”
Defines when a person has notice or knowledge of a fact, and when notice to or by an organization is effective.
This section explains when a transaction labeled as a lease is treated as a lease or instead as a security interest.
A person gives value for rights when acquiring them, subject to stated article exceptions.
(1). Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose and circumstances of the action. [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, §4 (AFF).] (2). An
If the Uniform Commercial Code uses a presumption about a fact, the trier of fact must accept that fact unless evidence is introduced supporting its nonexistence.
Parties to a transaction with a reasonable relation to Maine and another state or nation may choose which law governs their rights and duties, subject to exceptions in this section.
The UCC’s effect may generally be varied by agreement, but good-faith, diligence, reasonableness, and care obligations cannot be disclaimed.
This section defines course of performance, course of dealing, and usage of trade, and explains how they are used to interpret an agreement.
Contracts or duties under the Uniform Commercial Code carry an obligation of good faith in performance and enforcement.
Uniform Commercial Code remedies must be administered liberally, and consequential, special, and penal damages are barred unless another UCC provision or other rule of law specifically allows them.
A claim or right from an alleged breach may be discharged, in whole or part, without consideration if the aggrieved party agrees in a signed record.
Certain third-party documents in proper form count as prima facie evidence of their authenticity, genuineness, and stated facts.
A party can reserve its rights while performing, promising performance, or accepting performance demanded or offered by the other party, and common phrases like “without prejudice” or “under protest” are enough.
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