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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 18. Professional and Occupational Licensing |
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Agency 35. Board of Bar Examiners |
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Chapter 20. Law Reader Program Rule |
Section 460. Uniform Commercial Code
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Course covers Articles I, II, III, IV, VI, VII and X of the Uniform Commercial Code.
Course first examines problems in the sale of goods as governed by Article II (with a brief survey of its antecedents) including: warranty, risk of loss, acceptance and rejection, tender of delivery, revocation, and remedies for breach of contract. Some discussion of other laws relating to warranties, Article VI on bulk sales, and Article VII on documents of title and bills of lading.
Course next examines commercial paper, bank deposits and collections under UCC Articles III and IV including: formation and use of negotiable instruments with an emphasis on checks, rights and liability of parties to negotiate instruments, defenses to liability, study of bank collection process and a bank's relationship with its customers.
Course finally examines secured transactions under UCC Article IX including: types of security interests, perfection of such interests, priority of claims, rights to proceeds of collateral, multi-state transactions, rights of parties after debtor's default.
Historical Notes
Derived from VR168-01-04 § 9.12, eff. March 1, 1993.