Uniform Commercial Code (UCC)

The Uniform Commercial Code (UCC) is an act that was passed in an effort to make laws involving sales and commercial transactions across the U.S. consistent in all fifty states. The UCC is not actually a law, but has the power of law when enacted by a state and addresses general provisions, sales and leases of goods, negotiable instruments, bank deposits, fund transfers, letters of credit, bulk transfers, bills of lading, warehouse receipts, documents of title, investment securities and secured transactions, including liens and security interests in personal property.

At Drew, Cooper & Anding, our attorneys won a notable verdict in the representation of Venture v. Autoliv. Venture was a tier 2 supplier in a lawsuit against Autoliv, a tier one supplier in the manufacture of airbags. Venture had entered into a supply contract agreement with Autoliv and sued Autoliv for breach of the supply contract, patent infringement, and misappropriation of trade secrets. A verdict of $27.5 million was rendered in December, 2003.