Business Law

Stocks, Bonds, and Other Securities: A Complete Guide to the Major Types of Securities Introduction The word security describes a broad category of financial interests that can represent ownership, debt, a right to receive money, or another legally recognized financial interest. The most familiar securities are stocks and bonds. A Read more

What Is Securities Law? A Complete Guide to Securities Regulation in the United States Introduction Securities law is the body of law that regulates the creation, offering, sale, trading, and disclosure of investments such as stocks, bonds, and other financial instruments. In simple terms, securities law is designed to make Read more

Negotiable Instruments: A Complete Guide to Checks, Promissory Notes, and Commercial Paper Introduction Modern commerce depends on the ability to transfer promises of payment efficiently. A business may sell goods today but receive payment thirty days later. A bank may lend money that will be repaid over several years. A Read more

Perfect Tender Rule Under the UCC: When a Buyer May Reject Nonconforming Goods Introduction One of the most distinctive features of Article 2 of the Uniform Commercial Code (UCC) is the perfect tender rule. In simple terms, the rule generally gives a buyer of goods the right to reject goods Read more

UCC Warranties: Express and Implied Warranties in the Sale of Goods Introduction When a person buys a product, the law does not necessarily leave the buyer entirely dependent on whatever the seller happens to promise. Under Article 2 of the Uniform Commercial Code (UCC), sales of goods can carry legally Read more

Battle of the Forms Under the UCC: When Standard Forms Disagree Introduction Businesses rarely negotiate every contract from scratch. Instead, commercial transactions are often conducted through standardized documents: The problem is that these forms often do not contain identical terms. A buyer may send a purchase order containing the buyer’s Read more

Merchant Status Under the UCC: Who Is a Merchant and Why It Matters Introduction The Uniform Commercial Code (UCC) does not always treat every person who buys or sells goods in exactly the same way. In many transactions, the law distinguishes between an ordinary buyer or seller and a merchant. Read more

Goods vs. Services Under the UCC: How to Determine Which Law Applies One of the first questions in many American commercial-law disputes is deceptively simple: Is this transaction for goods or for services? The answer can determine which body of law governs the relationship. If a transaction is a sale Read more

Sale of Goods Under the UCC: A Complete Guide to Article 2 The sale of goods is one of the central subjects of American commercial law. Every day, businesses and consumers buy automobiles, computers, clothing, machinery, furniture, food, equipment, and countless other products. Behind these ordinary transactions lies a substantial Read more