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Individual Project - Essay Example

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Before the UCC and the UCITA, Article 1 Section 8 of the U.S. Constitution set out the rudimentary principles that regulated commerce. It allowed Congress to collect taxes and duties, to borrow money and to coin it, establish uniform rules on the subject of bankruptcies as…
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Individual Project
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Individual Project

Download file to see previous pages... ransactions between the fifty states in the USA; the provisions in the Constitution under Article 1, section 8 may be seen to have achieved the same objective. For example, Section 8 specifically seeks to “regulate commerce with foreign nations and among several states and with the Indian tribes”. (www.topics.law.cornell). Moreover, it also sets out the distribution of powers among the centre and the states, by setting out the arming and disciplining of the militia as the province of the central government while the appointment of the officers and the training of the militia are to be reserved by the States. In this way, this part of the Constitute sought to provide some form of overall regulation of trade and commerce occurring between the different states. Since this section also sets out the principles of borrowing and coining money as well as fixing standards and providing for punishments of illegal commerce activities such as counterfeiting of money, it did provide an overall system of governance in the area of commerce, which makes it the effective precursor of specific legal provisions such as the UCC and UCITA.
2. Article 2 of the UCC specifically deals with the rules regulating the formulation of contracts and the procedures association with the repudiation of contracts and any breach that occurs (Rumbaugh, 2004). As opposed to this, the UCITA is specifically formulated to regulate e-commerce and computer associated transactions. The UCC also has a more pervasive role because it deals with a much wider range of issues that have been found to be relevant in contract and have been applied over the years, such as consideration, breach of contract, the battle of forms and similar issues, which allows it to play a more pervasive role. As opposed to this, the UCITA poses an entirely different set of regulatory issues which arise in the context of the technological environment. These issues are still developing, such as software piracy, difficulties in ...Download file to see next pagesRead More
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Individual Project
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