11 §1-1310. Subordinated obligations
§1-1310. Subordinated obligations An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either […]
11 §1-1104. Construction against implied repeal
§1-1104. Construction against implied repeal The Uniform Commercial Code being a general act intended as a unified coverage of its subject matter, no part of it may be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. […]
11 §1-1306. Waiver or renunciation of claim or right after breach
§1-1306. Waiver or renunciation of claim or right after breach A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record. [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, […]
11 §1-1105. Severability
§1-1105. Severability If any provision or clause of the Uniform Commercial Code or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Uniform Commercial Code that can be given effect without the invalid provision or application, and to this end the provisions of […]
11 §1-1307. Prima facie evidence by 3rd-party documents
§1-1307. Prima facie evidence by 3rd-party documents A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher’s or inspector’s certificate, consular invoice or any other document authorized or required by the contract to be issued by a 3rd party is prima facie evidence of its own […]
11 §1-1106. Use of singular and plural; gender
§1-1106. Use of singular and plural; gender In the Uniform Commercial Code, unless the statutory context otherwise requires: [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, §4 (AFF).] (1). Words in the singular number include the plural and those in the plural include the singular; and [PL […]
11 §1-1308. Performance or acceptance under reservation of rights
§1-1308. Performance or acceptance under reservation of rights (1). A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the other party does not thereby prejudice the rights reserved. Such words as “without prejudice,” “under protest” or the like are sufficient. […]
11 §1-1107. Section captions
§1-1107. Section captions Section captions are part of the Uniform Commercial Code. [PL 2009, c. 325, Pt. A, §2 (NEW); PL 2009, c. 325, Pt. A, §4 (AFF).] SECTION HISTORY PL 2009, c. 325, Pt. A, §2 (NEW). PL 2009, c. 325, Pt. A, §4 (AFF).
11 §1-1309. Option to accelerate at will
§1-1309. Option to accelerate at will A term providing that one party or that party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure,” or words of similar import, means that the party has power to do so only if that […]
11 §1-1108. Relation to electronic signatures in Electronic Signatures in Global and National Commerce Act
§1-1108. Relation to electronic signatures in Electronic Signatures in Global and National Commerce Act This Article modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 United States Code, Section 7001 et seq., except that nothing in this Article modifies, limits or supersedes Section 7001(c) of that Act or authorizes […]