The Waning Importance of Revisions to U.C.C. Article 2

Abstract:     
Article 2 of the Uniform Commercial Code governs contracts for the sale of goods. This article seeks to show that, however urgent the need to modernize Article 2 was in 1990, this need ironically has waned with the passage of time. Article 2 requires less change now than it did a decade ago to meet the requirements of modern commerce. The article supports this claim by looking at three very significant developments that have occurred since 1990: the growth of electronic commerce, the decision not to address software licenses in article 2, and the accumulation of a decade of precedents addressing uncertain issues.

Keywords: UCC, U.C.C., Uniform Commercial Code, Sales, Article 2

JEL Classifications: K12

Accepted Paper Series