Uniform Commercial Code: Article 2 Sales Transactions over the Internet - Term Paper Example

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Uniform Commercial Code generally refers to the main set of regulations and laws that were primarily established to harmonize and standardize sales and commercial transactions in 50 States of the United States…
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Uniform Commercial Code: Article 2 Sales Transactions over the Internet
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Consequently the use of uniform commercial code has not only ensured uniformity of the state laws regulating commercial transactions but has also allowed the states to achieve the necessary flexibility required to meet their local transaction demands (Benjamin and Jane,1998). The history of the UCC dates back to the 1940s when some of the top American legal scholars began to draft a uniform law regulating commercial transactions that was intended to be adopted into the code of statutes of all the 50 States it covered. Although the content of the uniform commercial code is generally the same in all the states that have adopted it, some states have however undertaken minimal structural adjustments to conform to the local state customs. The implementation of the Uniform Commercial Code has enabled people from various states to freely make their commercial contracts such as with regard to the processing of notes, checks as well as some of the routine commercial paper works needed in most transactions. In some cases, UCC may also be used to limit the number of legal formalities required during the making of certain commercial contracts.
Article 2 of the Uniform Commercial Code is generally concerned with regulation of sales of various goods and services within the states covered by the UCC regulations. This paper focuses on Article 2 of the UCC as well as the issues involved in its provisions.
With the recent advancements in information and technology particularly with regard to the current digital market place, the laws regulating the sales of goods and services are increasingly being forced to evolve with the technological trends. As a result there has been a wide debate regarding the application of the Article 2 of the UCC in the regulation of online sales of services and goods such as e-books, music as well as movies among other digital products. According to the recent estimates by the U.S department of commerce, online sales have increasingly risen over the past few years and are currently nearly 4.6% of the current total consumer sales in the United States (Enright, 2012). This estimate did not however include the sales of the other products commonly sold over the internet such as cars, food service, grocery and fuel among others. Since the beginning of the Internet Age in the mid 1990s, buyers and sellers have increasingly converged on the online markets such as eBay and Amazon.com to buy and auction various commercial items. Passman (2008) argues that many people are now able to shop items such as e-books, music and movies using their computers while in the comfort of their offices and homes. Similarly the internet age has also enabled sellers to conveniently auction their goods by simply posting advertisements on the particular websites of the online markets. Consequently this has significantly revolutionized and transformed the transaction of distant sales to a point where the buyers and sellers may not necessarily know each other during the selling or buying of goods. Challenges of using Article to Govern Internet transactions Although the development of distance and faceless transaction ...Download file to see next pagesRead More
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