Contracts,
Corporate
Dec. 10, 2014
UCC: a forgotten code in asset purchase transactions
he Uniform Commercial Code has become the "forgotten code" when it comes to agreements to acquire a business in an asset purchase transaction. It may be forgotten, but it is still relevant.
The Uniform Commercial Code has become the "forgotten code" when it comes to agreements to acquire a business in an asset purchase transaction. It may be forgotten, but it is still relevant. Lawyers who fail to consider the UCC may encounter some unexpected and undesired consequences.
When drafting or negotiating an asset purchase agreement, the first question should be does the UCC apply at all? Section 2102 of the UCC provides that Division 2 of the UCC, covering sales, applies ...For only $95 a month (the price of 2 article purchases)
Receive unlimited article access and full access to our archives,
Daily Appellate Report, award winning columns, and our
Verdicts and Settlements.
Or
$795 for an entire year!
Or access this article for $45
(Purchase provides 7-day access to this article. Printing, posting or downloading is not allowed.)
Already a subscriber?
Sign In