DEFINITION of 'Commercial Code'

Private and public laws that regulated how commerce is to be conducted. Commercial codes govern business and commercial transactions and deal with topics including merchant shipping, corporate contracts, and the manufacture and sale of consumer goods.

BREAKING DOWN 'Commercial Code'

All 50 states, the District of Columbia and the U.S. Territories have adopted the Uniform Commercial Code (UCC), a unified body of commercial law that addresses sales and commercial transaction within the United States. The Uniform Commercial Code covers primarily those transactions involving personal property and not actual property, such as real estate.


RELATED TERMS
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