Uniform Commercial Code Lawyer NYC - Francelina M. Perdomo Klukosky of Perdomo Law
Uniform Commercial Code Law Firm, Perdomo Law in Manhattan, New York City, NY
When an individual or business owner signs paperwork for a loan, then specific requirements must be met for the transaction to be legal. Every state in America uses a form of law we call the Uniform Commercial Code or UCC. These regulations make everyday financial transactions more accessible, more understandable, and convenient for people transferring the ownership of property or seeking financial assistance to secure items like inventory, vehicles, and boats.
No matter how simple a party tries to make a contract, there is always some way a person can misunderstand things. When these problems arise, or someone does not hold up his or her end of the deal, then it may be necessary to contact a legal representative like Francelina M. Perdomo Klukosky. Perdomo Law ensures clients understand the fine print and legal ramifications of signing a particular contract. She dedicates herself to giving her experience and commitment to people seeking legal advice about the UCC code.
What is the Definition of the Uniform Commercial Code?
When a person files for a loan to buy something personal, sellers and buyers must follow specific rules that include filing a UCC-1 form. If you seek financing for leasing company vehicles, then this page is a requirement to meet UCC laws. The lender must keep possession of this document while the loan is being paid.
UCC laws ensure that all parties know who is responsible for delivering a product, how to dispute an item with damage, and who pays for return shipping. Using one standard across these industries makes the law more understandable and minimizes problems. The Uniform Law Commission is the overseeing body that governs the code.
Most sales involve the Uniform Code. To understand this code, a person might want to hire a legal professional for advice if nothing else. Having a UCC attorney on retainer is vital for many businesses because of the number of contracts they deal with each day, week, month, or year. The following situations are some ways people can benefit from using a UCC law firm.
- When a breach of contract is suspected including late payments
- Warranty questions arise
- Entering a secure financial transaction
- Discrepancies are present on bills of lading slips
- When signing a contract for the sale of goods
- Leasing business vehicles and equipment
- When dealing with large transactions
- Conducting business with out-of-state suppliers, purchasers, and warehouses
The Primary Provisions in the UCC Code
- Provisions in general for all items in the entire code including definitions and how to decipher between them
- Selling goods regulations and laws including the restriction of property sales in this portion
- Leasing items using true and fixed leases along with a detailed bit about finance leases
- Items up for negotiation like promissory notes, checks, and contract drafts
- Deposits into the bank and the rules that apply to this part of selling goods
- Electronic transactions including how the money transfer must go
- Credit letters require a contract or physical document to be legal
- Title documents must be clear and concise to show ownership of property
- Investments like stocks and bonds and how the mutual fund process works to ensure consistent transfers
- Loans with collateral use specific contracts that list the borrower information along with the details for the lender and how the collateral fits into the deal
Common code is the name for laws governing the purchase of houses, services from a company, and insurance. It also covers hiring employees and things like intellectual property rights. These laws refer to how a company conducts business where UCC code leaves room in the law for minor differences in the contract. The Uniform Commercial Code covers areas like taking out a loan for equipment or materials for a business, bank deposits, and trucking documents.
Applications the UCC law governs
- Credit approvals
- Selling and buying products
- Money going into the bank
- Loan applications for leasing property and equipment
- Wire transfers and notes of promise
- Broken contracts and disputes between parties in contract with each other
- Collection proceedings for bills of lading, contracts, and late payments for sales
- Financial contracts
Existing Business Needs and Litigation Support Package
Established businesses also have legal needs. Success can make a company more vulnerable to competition and litigation. Busy schedules can lead to mistakes. Francelina M. Perdomo Klukosky can look over contracts, goals, and procedures to see the details the people involved in the work may have overlooked. Our firm can assist with:
- Review existing contracts, provide comments, and redraft for improvement
- Provide opinion letters regarding contract enforcement
- Explore out-of-court settlement options for existing disputes
- Create a litigation plan for potential and existing disputes
Contact Uniform Commercial Code Attorney, Francelina M. Perdomo Klukosky for a Case Assessment
Francelina M. Perdomo Klukosky comes to the table with years of experience in local litigation, contract disputes, trademark protection, technology, business, entertainment, and many other legal areas. Please contact us for a case assessment.
Additional References
- Uniform Commercial Code - Uniform Law Commission
