Title
TITLE 80 - UNIFORM COMMERCIAL CODE
Body
ARTICLE 1
GENERAL PROVISIONS
Oklahoma Statutes
Commercial code, general provisions, see 12A O.S. § 1-101 et seq.
PART 1. GENERAL PROVISIONS
§ 1-101. Short titles
Short Titles
(a) This Act may be cited as the Uniform Commercial Code.
(b) This article may be cited as Uniform Commercial Code-General Provisions.
History
Source. LA 26-03, eff. October 2, 2003.
§ 1-102. Scope of article
Scope of Article
This article applies to a transaction to the extent that it is governed by another article of the Uniform Commercial Code.
History
Source. LA 26-03, eff. October 2, 2003.
§ 1-103. Construction of Uniform Commercial Code to promote its purposes and policies-Applicability of supplemental principles of law
Construction of Uniform Commercial Code to Promote its Purposes and Policies-Applicability of Supplemental Principles of Law
(a) The Uniform Commercial Code must be liberally construed and applied to promote its underlying purposes and policies, which are:
(1) to simplify, clarify, and modernize the law governing commercial transactions;
(2) to permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and
(3) to make uniform the law among the various jurisdictions.
(b) Unless displaced by the particular provisions of the Uniform Commercial Code, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, and other validating or invalidating cause supplement its provisions.
History
Source. LA 26-03, eff. October 2, 2003.
Library References
Statutes
1122, 1210.
Westlaw Topic No. 361.
C.J.S. Statutes §§ 364, 372 to 374, 472, 474 to 482.
§ 1-104. Construction against implied repeal
Construction Against Implied Repeal
The Uniform Commercial Code being a general act intended as a unified coverage of it...
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