Cases arising under the Uniform Commercial Code (UCC) make up a large portion of commercial litigation. If you or your business is involved in a business litigation matter involving a Uniform Commercial Code-related matter, you need the assistance of a top UCC attorney. Such litigation can be costly and complex; we’ll work hard to ensure that your business interests are protected.
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The Uniform Commercial Code was created to standardize the law of sales and commercial transactions within the United States, an important goal due to the number of such transactions that involve more than one state. The Uniform Commercial Code has been enacted in some form in all fifty states, including New York.
The Uniform Commercial Code has been criticized as being technologically outdated, due to its providing little insight on the privileges and responsibilities of those who do business over the internet. Nevertheless, the Uniform Commercial Code continues to govern commercial paper.
The Uniform Commercial Code Provides for the Following Recovery:
Consequential damages, which are based on the injuries that resulted from a seller's alleged breach of contract. This harm does not proceed directly from the act of a party, but rather from certain results of that act, and is thought to have been foreseeable by a reasonable person.
Incidental damages, which are awarded as compensation for commercially reasonable expenses suffered due to a party's alleged breach of contract (for example, shipping costs when goods have to be returned because they are said to not meet a contract's specifications).
Liquidated damages, which are predetermined and reasonable estimates of damages thought to equal the extent of the alleged injury that may occur if the contract is breached. As liquidated damages create a certain degree of predictability regarding costs, these damages can function as a source of limited insurance.
Reliance damages (or restitution) are based upon the alleged harm endured due to acting on another's claim, promise, or statement.
Unsurprisingly, the total amount of damages in a UCC dispute can end up being very large. It is essential to have the best legal representation when litigating such matters.
Are you facing charges brought under the Uniform Commercial Code? The Blanch Law Firm can held you understand your rights and establish your defense. Contact one of our UCC attorneys by calling 212-736-3900. Your initial consultation is free and confidential.