Law of Contracts vs. the Universal Commercial Code

Given what you are learning about the law of contracts v. the UCC, why do you think all 50 states have adopted the Model UCC in some form or another? What are the benefits and detriments to the UCC replacing the traditional law of contracts?

Solution Summary

This solution provides the learner with an understanding of the differences between the law of contracts and the Universal Commercial Code. Further this solution provides the learner with an understanding of the benefits and detriments to the UCC replacing the law of contracts.