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Can you summarize IACO 554.3103?
UNIFORM COMMERCIAL CODE > Definitions.
Short Summary
This legal document, known as the Uniform Commercial Code (UCC), governs commercial transactions. It provides definitions for various terms used in commercial transactions, such as acceptor, drawee, drawer, maker, order, ordinary care, party, promise, prove, remitter, and more. The UCC also includes definitions from other articles that apply to this article. It does not specify any exemptions or penalties. The UCC is a comprehensive set of laws that aim to provide uniformity and clarity in commercial transactions across different states in the United States.
Whom does it apply to?
Parties involved in commercial transactions
What does it govern?
Uniform Commercial Code
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Iowa