Uniform Commercial Code Legal Meaning and Definition

Here is a simplified definition of the legal term Uniform Commercial Code.

Uniform Commercial Code (n.)

The Uniform Commercial Code, or UCC, is a set of laws that provides guidelines and rules for various commercial transactions. These include rules related to commerce, secured loans, and handling negotiable instruments. The aim of the UCC is to standardize business laws across the states and it has been adopted, at least in part, by almost all U.S. states.