Definitions To Know By Heart! From the UCC §1-201
Study tip: These core definitions from UCC §1-201 show up repeatedly in real disputes and filings. If you want stronger comprehension, memorize them and practice using them in plain-English examples.
Key terms (excerpt):
| Term | Definition (excerpt) |
|---|---|
| Action | (1) “Action“, in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which rights are determined. |
| Aggrieved party | 2) “Aggrieved party” means a party entitled to pursue a remedy. |
| Agreement | 3) “Agreement“, as distinguished from “contract”, means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in Section 1-303. |
Quick Review (Tap to Expand)
Action
(1) “Action“, in the sense of a judicial proceeding, includes recoupment, counterclaim, set-off, suit in equity, and any other proceeding in which rights are determined.
Aggrieved party
2) “Aggrieved party” means a party entitled to pursue a remedy.
Agreement
3) “Agreement“, as distinguished from “contract”, means the bargain of the parties in fact, as found in their language or inferred from other circumstances, including course of performance, course of dealing, or usage of trade as provided in Section 1-303.
…and 40 other Definitions you Should Know by Heart! Get out your Flash-Cards… Definitions in UCC to Study (§1-201)
Educational Disclaimer
This page is provided for educational and informational purposes only and does not constitute legal advice. Always consult the current UCC text and applicable jurisdictional law for your specific situation.
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