California Commercial Code
(Last Updated August 2008)

California Commercial Code Section 1101
This code may be cited as the Uniform Commercial Code.
California Commercial Code Section 1102
This division applies to a transaction to the extent that it is governed by another division of this code.
California Commercial Code Section 1103
(a) This code shall be liberally construed and applied to promote its underlying purposes and policies, which are: (1) to simplify, clarify, and...
California Commercial Code Section 1104
This code being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by...
California Commercial Code Section 1105
If any provision or clause of this code or its application to any person or circumstance is held invalid, the invalidity does not affect other...
California Commercial Code Section 1106
In this code, unless the statutory context otherwise requires: (1) words in the singular number include the plural, and those in the plural...
California Commercial Code Section 1108
This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq.,...
California Commercial Code Section 1201
(a) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in other divisions of
California Commercial Code Section 1202
(a) Subject to subdivision (f), a person has "notice" of a fact if the person: (1) has actual knowledge of it; (2) has received a notice or...
California Commercial Code Section 1203
(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b) A transaction...
California Commercial Code Section 1204
Except as otherwise provided in Divisions 3, 4, 5, and 6, a person gives value for rights if the person acquires them: (1) in return for a binding
California Commercial Code Section 1205
(a) Whether a time for taking an action required by this code is reasonable depends on the nature, purpose, and circumstances of the action. (b)...
California Commercial Code Section 1206
Whenever this code creates a "presumption" with respect to a fact, or provides that a fact is "presumed," the trier of fact must find the existence...
California Commercial Code Section 1108
This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq.,...
California Commercial Code Section 1301
(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation,...
California Commercial Code Section 1302
(a) Except as otherwise provided in subdivision (b) or elsewhere in this code, the effect of provisions of this code may be varied by agreement. ...
California Commercial Code Section 1303
(a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) the agreement of the...
California Commercial Code Section 1304
Every contract or duty within this code imposes an obligation of good faith in its performance and enforcement.
California Commercial Code Section 1305
(a) The remedies provided by this code shall be liberally administered to the end that the aggrieved party may be put in as good a position as if the
California Commercial Code Section 1306
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...
California Commercial Code Section 1307
(1) A bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or any other document...
California Commercial Code Section 1308
(a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by...
California Commercial Code Section 1309
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional...
California Commercial Code Section 1310
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to...
California Commercial Code Section 2101
This division shall be known and may be cited as Uniform Commercial Code--Sales.
California Commercial Code Section 2102
Unless the context otherwise requires, this division applies to transactions in goods; it does not apply to any transaction which although in the...
California Commercial Code Section 2103
(1) In this division unless the context otherwise requires: (a) "Buyer" means a person who buys or contracts to buy goods. (b) (Reserved) ...
California Commercial Code Section 2104
(1) "Merchant" means a person who deals in goods of the kind or otherwise by his occupation holds himself out as having knowledge or skill peculiar...
California Commercial Code Section 2105
(1) "Goods" means all things (including specially manufactured goods) which are movable at the time of identification to the contract for sale other...
California Commercial Code Section 2106
(1) In this division unless the context otherwise requires "contract" and "agreement" are limited to those relating to the present or future sale of...
California Commercial Code Section 2107
(1) A contract for the sale of minerals or the like (including oil and gas) or a structure or its materials to be removed from realty is a contract...
California Commercial Code Section 1308
(a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by...
California Commercial Code Section 1309
A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional...
California Commercial Code Section 1310
An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to...
California Commercial Code Section 2201
(1) Except as otherwise provided in this section a contract for the sale of goods for the price of five hundred dollars ($500) or more is not...
California Commercial Code Section 2202
Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a writing intended by the parties as...
California Commercial Code Section 2204
(1) A contract for sale of goods may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the...
California Commercial Code Section 2205
(a) An offer by a merchant to buy or sell goods in a signed writing which by its terms gives assurance that it will be held open is not revocable,...
California Commercial Code Section 2206
(1) Unless otherwise unambiguously indicated by the language or circumstances (a) An offer to make a contract shall be construed as inviting...
California Commercial Code Section 2207
(1) A definite and seasonable expression of acceptance or a written confirmation which is sent within a reasonable time operates as an acceptance...
California Commercial Code Section 2209
(1) An agreement modifying a contract within this division needs no consideration to be binding. (2) A signed agreement which excludes...
California Commercial Code Section 2210
(1) A party may perform his or her duty through a delegate unless otherwise agreed or unless the other party has a substantial interest in having his
California Commercial Code Section 2301
The obligation of the seller is to transfer and deliver and that of the buyer is to accept and pay in accordance with the contract.
California Commercial Code Section 2303
Where this division allocates a risk or a burden as between the parties "unless otherwise agreed," the agreement may not only shift the allocation...
California Commercial Code Section 2304
(1) The price can be made payable in money or otherwise. If it is payable in whole or in part in goods each party is a seller of the goods which he...
California Commercial Code Section 2305
(1) The parties if they so intend can conclude a contract for sale even though the price is not settled. In such a case the price is a reasonable...
California Commercial Code Section 2306
(1) A term which measures the quantity by the output of the seller or the requirements of the buyer means such actual output or requirements as may...
California Commercial Code Section 2307
Unless otherwise agreed all goods called for by a contract for sale must be tendered in a single delivery and payment is due only on such tender but...
California Commercial Code Section 2308
Unless otherwise agreed (a) The place for delivery of goods is the seller's place of business or if he has none his residence; but (b) In a...
California Commercial Code Section 2309
(1) The time for shipment or delivery or any other action under a contract if not provided in this division or agreed upon shall be a reasonable...
California Commercial Code Section 2310
Unless otherwise agreed: (a) Payment is due at the time and place at which the buyer is to receive the goods even though the place of shipment is...
California Commercial Code Section 2311
(1) An agreement for sale which is otherwise sufficiently definite (subdivision (3) of Section 2204) to be a contract is not made invalid by the fact
California Commercial Code Section 2312
(1) Subject to subdivision (2) there is in a contract for sale a warranty by the seller that (a) The title conveyed shall be good, and its...
California Commercial Code Section 2313
(1) Express warranties by the seller are created as follows: (a) Any affirmation of fact or promise made by the seller to the buyer which relates
California Commercial Code Section 2314
(1) Unless excluded or modified (Section 2316), a warranty that the goods shall be merchantable is implied in a contract for their sale if the seller
California Commercial Code Section 2315
Where the seller at the time of contracting has reason to know any particular purpose for which the goods are required and that the buyer is relying...
California Commercial Code Section 2316
(1) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit warranty shall be construed...
California Commercial Code Section 2317
Warranties whether express or implied shall be construed as consistent with each other and as cumulative, but if such construction is unreasonable...
California Commercial Code Section 2319
(1) Unless otherwise agreed the term F.O.B. (which means "free on board") at a named place, even though used only in connection with the stated...
California Commercial Code Section 2320
(1) The term C.I.F. means that the price includes in a lump sum the cost of the goods and the insurance and freight to the named destination. The...
California Commercial Code Section 2321
Under a contract containing a term C.I.F. or C. & F. (1) Where the price is based on or is to be adjusted according to "net landed weights,"...
California Commercial Code Section 2322
(1) Unless otherwise agreed a term for delivery of goods "ex-ship" (which means from the carrying vessel) or in equivalent language is not restricted
California Commercial Code Section 2323
(1) Where the contract contemplates overseas shipment and contains a term C.I.F. or C. & F. or F.O.B. vessel, the seller unless otherwise agreed...
California Commercial Code Section 2324
Under a term "no arrival, no sale" or terms of like meaning, unless otherwise agreed, (a) The seller must properly ship conforming goods and if...
California Commercial Code Section 2325
(1) Failure of the buyer seasonably to furnish an agreed letter of credit is a breach of the contract for sale. (2) The delivery to seller of a...
California Commercial Code Section 2326
(1) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is (a) A...
California Commercial Code Section 2327
(1) Under sale on approval unless otherwise agreed (a) Although the goods are identified to the contract the risk of loss and the title do not...
California Commercial Code Section 2328
(1) In a sale by auction if goods are put up in lots each lot is the subject of a separate sale. (2) A sale by auction is complete when the...
California Commercial Code Section 2401
Each provision of this division with regard to the rights, obligations and remedies of the seller, the buyer, purchasers or other third parties...
California Commercial Code Section 2402
(1) Except as provided in subdivisions (2) and (3), rights of unsecured creditors of the seller with respect to goods which have been identified to a
California Commercial Code Section 2403
(1) A purchaser of goods acquires all title which his transferor had or had power to transfer except that a purchaser of a limited interest acquires...
California Commercial Code Section 2501
(1) The buyer obtains a special property and an insurable interest in goods by identification of existing goods as goods to which the contract refers
California Commercial Code Section 2502
(1) Subject to subdivisions (2) and (3), and even though the goods have not been shipped, a buyer who has paid a part or all of the price of goods in
California Commercial Code Section 2503
(1) Tender of delivery requires that the seller put and hold conforming goods at the buyer's disposition and give the buyer any notification...
California Commercial Code Section 2504
Where the seller is required or authorized to send the goods to the buyer and the contract does not require him to deliver them at a particular...
California Commercial Code Section 2505
(1) Where the seller has identified goods to the contract by or before shipment: (a) His procurement of a negotiable bill of lading to his own...
California Commercial Code Section 2506
(1) A financing agency by paying or purchasing for value a draft which relates to a shipment of goods acquires to the extent of the payment or...
California Commercial Code Section 2507
(1) Tender of delivery is a condition to the buyer's duty to accept the goods and, unless otherwise agreed, to his duty to pay for them. Tender...
California Commercial Code Section 2508
(1) Where any tender or delivery by the seller is rejected because nonconforming and the time for performance has not yet expired, the seller may...
California Commercial Code Section 2509
(1) Where the contract requires or authorizes the seller to ship the goods by carrier (a) If it does not require him to deliver them at a...
California Commercial Code Section 2510
(1) Where a tender or delivery of goods so fails to conform to the contract as to give a right of rejection the risk of their loss remains on the...
California Commercial Code Section 2511
(1) Unless otherwise agreed, tender of payment is a condition to the seller's duty to tender and complete any delivery. (2) Tender of payment is...
California Commercial Code Section 2512
(1) Where the contract requires payment before inspection nonconformity of the goods does not excuse the buyer from so making payment unless (a) the...
California Commercial Code Section 2513
(1) Unless otherwise agreed and subject to subdivision (3), where goods are tendered or delivered or identified to the contract for sale, the buyer...
California Commercial Code Section 2514
Unless otherwise agreed documents against which a draft is drawn are to be delivered to the drawee on acceptance of the draft if it is payable more...
California Commercial Code Section 2515
In furtherance of the adjustment of any claim or dispute (a) Either party on reasonable notification to the other and for the purpose of...
California Commercial Code Section 2601
Subject to the provisions of this division on breach in installment contracts (Section 2612) and unless otherwise agreed under the sections on...
California Commercial Code Section 2602
(1) Rejection of goods must be within a reasonable time after their delivery or tender. It is ineffective unless the buyer seasonably notifies the...
California Commercial Code Section 2603
(1) Subject to any security interest in the buyer (subdivision (3) of Section 2711), when the seller has no agent or place of business at the market...
California Commercial Code Section 2604
Subject to the provisions of the immediately preceding section on perishables if the seller gives no instructions within a reasonable time after...
California Commercial Code Section 2605
(1) The buyer's failure to state in connection with rejection a particular defect which is ascertainable by reasonable inspection precludes him from...
California Commercial Code Section 2606
(1) Acceptance of goods occurs when the buyer (a) After a reasonable opportunity to inspect the goods signifies to the seller that the goods are...
California Commercial Code Section 2607
(1) The buyer must pay at the contract rate for any goods accepted. (2) Acceptance of goods by the buyer precludes rejection of the goods accepted
California Commercial Code Section 2608
(1) The buyer may revoke his acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to him if he has accepted it
California Commercial Code Section 2609
(1) A contract for sale imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. When...
California Commercial Code Section 2610
When either party repudiates the contract with respect to a performance not yet due the loss of which will substantially impair the value of the...
California Commercial Code Section 2611
(1) Until the repudiating party's next performance is due he can retract his repudiation unless the aggrieved party has since the repudiation...
California Commercial Code Section 2612
(1) An "installment contract" is one which requires or authorizes the delivery of goods in separate lots to be separately accepted, even though the...
California Commercial Code Section 2613
Where the contract requires for its performance goods identified when the contract is made, and the goods suffer casualty without fault of either...
California Commercial Code Section 2614
(1) Where without fault of either party the agreed berthing, loading, or unloading facilities fail or an agreed type of carrier becomes unavailable...
California Commercial Code Section 2615
Except so far as a seller may have assumed a greater obligation and subject to the preceding section on substituted performance: (a) Delay in...
California Commercial Code Section 2616
(1) Where the buyer receives notification of a material or indefinite delay or an allocation justified under the preceding section he may by written...
California Commercial Code Section 2701
Remedies for breach of any obligation or promise collateral or ancillary to a contract for sale are not impaired by the provisions of this division.
California Commercial Code Section 2702
(1) Where the seller discovers the buyer to be insolvent he may refuse delivery except for cash including payment for all goods theretofore delivered
California Commercial Code Section 2703
Where the buyer wrongfully rejects or revokes acceptance of goods or fails to make a payment due on or before delivery or repudiates with respect to...
California Commercial Code Section 2704
(1) An aggrieved seller under the preceding section may (a) Identify to the contract conforming goods not already identified if at the time he...
California Commercial Code Section 2705
(1) The seller may stop delivery of goods in the possession of a carrier or other bailee when he discovers the buyer to be insolvent (Section 2702)...
California Commercial Code Section 2706
(1) Under the conditions stated in Section 2703 on seller's remedies, the seller may resell the goods concerned or the undelivered balance thereof. ...
California Commercial Code Section 2707
(1) A "person in the position of a seller" includes as against a principal an agent who has paid or become responsible for the price of goods on...
California Commercial Code Section 2708
(1) Subject to subdivision (2) and to the provisions of this division with respect to proof of market price (Section 2723), the measure of damages...
California Commercial Code Section 2709
(1) When the buyer fails to pay the price as it becomes due the seller may recover, together with any incidental damages under the next section, the...
California Commercial Code Section 2710
Incidental damages to an aggrieved seller include any commercially reasonable charges, expenses or commissions incurred in stopping delivery, in the...
California Commercial Code Section 2711
(1) Where the seller fails to make delivery or repudiates or the buyer rightfully rejects or justifiably revokes acceptance then with respect to any...
California Commercial Code Section 2712
(1) After a breach within the preceding section the buyer may "cover" by making in good faith and without unreasonable delay any reasonable purchase...
California Commercial Code Section 2713
(1) Subject to the provisions of this division with respect to proof of market price (Section 2723), the measure of damages for nondelivery or...
California Commercial Code Section 2714
(1) Where the buyer has accepted goods and given notification (subdivision (3) of Section 2607) he or she may recover, as damages for any...
California Commercial Code Section 2715
(1) Incidental damages resulting from the seller's breach include expenses reasonably incurred in inspection, receipt, transportation and care and...
California Commercial Code Section 2716
(1) Specific performance may be decreed where the goods are unique or in other proper circumstances. (2) The decree for specific performance may...
California Commercial Code Section 2717
The buyer on notifying the seller of his intention to do so may deduct all or any part of the damages resulting from any breach of the contract from...
California Commercial Code Section 2718
(1) Damages for breach by either party may be liquidated in the agreement subject to and in compliance with Section 1671 of the Civil Code. If the...
California Commercial Code Section 2719
(1) Subject to the provisions of subdivisions (2) and (3) of this section and of the preceding section on liquidation and limitation of damages, ...
California Commercial Code Section 2720
Unless the contrary intention clearly appears, expressions of "cancellation" or "rescission" of the contract or the like shall not be construed as a...
California Commercial Code Section 2721
Remedies for material misrepresentation or fraud include all remedies available under this division for nonfraudulent breach. Neither rescission or a
California Commercial Code Section 2722
Where a third party so deals with goods which have been identified to a contract for sale as to cause actionable injury to a party to that contract
California Commercial Code Section 2723
(1) If an action based on anticipatory repudiation comes to trial before the time for performance with respect to some or all of the goods, any...
California Commercial Code Section 2724
Whenever the prevailing price or value of any goods regularly bought and sold in any established commodity market is in issue, reports in official...
California Commercial Code Section 2725
(1) An action for breach of any contract for sale must be commenced within four years after the cause of action has accrued. By the original...
California Commercial Code Section 2800
As used in this chapter "goods" means goods used or bought for use primarily for personal, family or household purposes.
California Commercial Code Section 2801
In any retail sale of goods, if the manufacturer or seller of the goods issues a written warranty or guarantee as to the condition or quality of all...
California Commercial Code Section 3101
This division may be cited as Uniform Commercial Code--Negotiable Instruments.
California Commercial Code Section 3102
(a) This division applies to negotiable instruments. It does not apply to money, to payment orders governed by Division 11 (commencing with Section...
California Commercial Code Section 3103
(a) In this division: (1) "Acceptor" means a drawee who has accepted a draft. (2) "Drawee" means a person ordered in a draft to make payment.
California Commercial Code Section 3104
(a) Except as provided in subdivisions (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money,...
California Commercial Code Section 3105
(a) "Issue" means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on...
California Commercial Code Section 3106
(a) Except as provided in this section, for the purposes of subdivision (a) of Section 3104, a promise or order is unconditional unless it states (1)
California Commercial Code Section 3107
Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an...
California Commercial Code Section 3108
(a) A promise or order is "payable on demand" if it (1) states that it is payable on demand or at sight, or otherwise indicates that it is payable at
California Commercial Code Section 3109
(a) A promise or order is payable to bearer if it is any of the following: (1) States that it is payable to bearer or to the order of bearer or...
California Commercial Code Section 3110
(a) The person to whom an instrument is initially payable is determined by the intent of the person, whether or not authorized, signing as, or in the
California Commercial Code Section 3111
Except as otherwise provided for items in Division 4 (commencing with Section 4101), an instrument is payable at the place of payment stated in the...
California Commercial Code Section 3112
(a) Unless otherwise provided in the instrument, (1) an instrument is not payable with interest, and (2) interest on an interest-bearing instrument...
California Commercial Code Section 3113
(a) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after
California Commercial Code Section 3114
If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail...
California Commercial Code Section 3115
(a) "Incomplete instrument" means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is
California Commercial Code Section 3116
(a) Except as otherwise provided in the instrument, two or more persons who have the same liability on an instrument as makers, drawers, acceptors,...
California Commercial Code Section 3117
Subject to applicable law regarding exclusion of proof of contemporaneous or previous agreements, the obligation of a party to an instrument to pay...
California Commercial Code Section 3118
(a) Except as provided in subdivision (e), an action to enforce the obligation of a party to pay a note payable at a definite time shall be commenced
California Commercial Code Section 3119
In an action for breach of an obligation for which a third person is answerable over pursuant to this division or Division 4 (commencing with Section
California Commercial Code Section 3201
(a) "Negotiation" means a transfer of possession, whether voluntary or involuntary, of an instrument by a person other than the issuer to a person...
California Commercial Code Section 3202
(a) Negotiation is effective even if obtained (1) from an infant, a corporation exceeding its powers, or a person without capacity, (2) by fraud,...
California Commercial Code Section 3203
(a) An instrument is transferred when it is delivered by a person other than its issuer for the purpose of giving to the person receiving delivery...
California Commercial Code Section 3204
(a) "Indorsement" means a signature, other than that of a signer as maker, drawer, or acceptor, that alone or accompanied by other words is made on...
California Commercial Code Section 3205
(a) If an indorsement is made by the holder of an instrument, whether payable to an identified person or payable to bearer, and the indorsement...
California Commercial Code Section 3206
(a) An indorsement limiting payment to a particular person or otherwise prohibiting further transfer or negotiation of the instrument is not...
California Commercial Code Section 3207
Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the...
California Commercial Code Section 3301
"Person entitled to enforce" an instrument means (a) the holder of the instrument, (b) a nonholder in possession of the instrument who has the rights
California Commercial Code Section 3302
(a) Subject to subdivision (c) and subdivision (d) of Section 3106, "holder in due course" means the holder of an instrument if both of the following
California Commercial Code Section 3303
(a) An instrument is issued or transferred for value if any of the following apply: (1) The instrument is issued or transferred for a promise of...
California Commercial Code Section 3304
(a) An instrument payable on demand becomes overdue at the earliest of the following times: (1) On the day after the day demand for payment is...
California Commercial Code Section 3305
(a) Except as stated in subdivision (b), the right to enforce the obligation of a party to pay an instrument is subject to all of the following: ...
California Commercial Code Section 3306
A person taking an instrument, other than a person having rights of a holder in due course, is subject to a claim of a property or possessory right...
California Commercial Code Section 3307
(a) In this section: (1) "Fiduciary" means an agent, trustee, partner, corporate officer or director, limited liability company manager, or other...
California Commercial Code Section 3308
(a) In an action with respect to an instrument, the authenticity of, and authority to make, each signature on the instrument is admitted unless...
California Commercial Code Section 3309
(a) A person not in possession of an instrument is entitled to enforce the instrument if (1) the person was in possession of the instrument and...
California Commercial Code Section 3310
(a) Unless otherwise agreed, if a certified check, cashier's check, or teller's check is taken for an obligation, the obligation is discharged to the
California Commercial Code Section 3311
(a) If a person against whom a claim is asserted proves that (1) that person in good faith tendered an instrument to the claimant as full...
California Commercial Code Section 3312
(a) In this section: (1) "Check" means a cashier's check, teller's check, or certified check. (2) "Claimant" means a person who claims the...
California Commercial Code Section 3401
(a) A person is not liable on an instrument unless (1) the person signed the instrument, or (2) the person is represented by an agent or...
California Commercial Code Section 3402
(a) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person or the...
California Commercial Code Section 3403
(a) Unless otherwise provided in this division or Division 4 (commencing with Section 4101), an unauthorized signature is ineffective except as the...
California Commercial Code Section 3404
(a) If an impostor, by use of the mails or otherwise, induces the issuer of an instrument to issue the instrument to the impostor, or to a person...
California Commercial Code Section 3405
(a) In this section: (1) "Employee" includes an independent contractor and employee of an independent contractor retained by the employer. (2)...
California Commercial Code Section 3406
(a) A person whose failure to exercise ordinary care contributes to an alteration of an instrument or to the making of a forged signature on an...
California Commercial Code Section 3407
(a) "Alteration" means (1) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or (2) an...
California Commercial Code Section 3408
A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its payment, and the drawee is...
California Commercial Code Section 3409
(a) "Acceptance" means the drawee's signed agreement to pay a draft as presented. It shall be written on the draft and may consist of the drawee's...
California Commercial Code Section 3410
(a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and treat the draft as...
California Commercial Code Section 3411
(a) In this section, "obligated bank" means the acceptor of a certified check or the issuer of a cashier's check or teller's check bought from the...
California Commercial Code Section 3412
The issuer of a note or cashier's check or other draft drawn on the drawer is obliged to pay the instrument (a) according to its terms at the time it
California Commercial Code Section 3413
(a) The acceptor of a draft is obliged to pay the draft (1) according to its terms at the time it was accepted, even though the acceptance states...
California Commercial Code Section 3414
(a) This section does not apply to cashier's checks or other drafts drawn on the drawer. (b) If an unaccepted draft is dishonored, the drawer is...
California Commercial Code Section 3415
(a) Subject to subdivisions (b), (c), and (d) and to subdivision (d) of Section 3419, if an instrument is dishonored, an indorser is obliged to pay...
California Commercial Code Section 3416
(a) A person who transfers an instrument for consideration warrants all of the following to the transferee and, if the transfer is by indorsement, to
California Commercial Code Section 3417
(a) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, (i) the person obtaining...
California Commercial Code Section 3418
(a) Except as provided in subdivision (c), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that (1)...
California Commercial Code Section 3419
(a) If an instrument is issued for value given for the benefit of a party to the instrument ("accommodated party") and another party to the...
California Commercial Code Section 3420
(a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other...
California Commercial Code Section 3501
(a) "Presentment" means a demand made by or on behalf of a person entitled to enforce an instrument (1) to pay the instrument made to the drawee or a
California Commercial Code Section 3502
(a) Dishonor of a note is governed by the following rules: (1) If the note is payable on demand, the note is dishonored if presentment is duly...
California Commercial Code Section 3503
(a) The obligation of an indorser stated in subdivision (a) of Section 3415 and the obligation of a drawer stated in subdivision (d) of Section 3414...
California Commercial Code Section 3504
(a) Presentment for payment or acceptance of an instrument is excused if (1) the person entitled to present the instrument cannot with reasonable...
California Commercial Code Section 3505
(a) The following are admissible as evidence and create a presumption of dishonor and of any notice of dishonor stated: (1) A document regular in...
California Commercial Code Section 3601
(a) The obligation of a party to pay the instrument is discharged as stated in this division or by an act or agreement with the party which would...
California Commercial Code Section 3602
(a) Subject to subdivision (b), an instrument is paid to the extent payment is made (1) by or on behalf of a party obliged to pay the instrument, and
California Commercial Code Section 3603
(a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is...
California Commercial Code Section 3604
(a) A person entitled to enforce an instrument, with or without consideration, may discharge the obligation of a party to pay the instrument (1) by...
California Commercial Code Section 3605
(a) In this section, the term "indorser" includes a drawer having the obligation described in subdivision (d) of Section 3414. (b) Discharge,...
California Commercial Code Section 4101
This division may be cited as Uniform Commercial Code--Bank Deposits and Collections.
California Commercial Code Section 4102
(a) To the extent that items within this division are also within Divisions 3 (commencing with Section 3101) and 8 (commencing with Section 8101),...
California Commercial Code Section 4103
(a) The effect of the provisions of this division may be varied by agreement, but the parties to the agreement cannot disclaim a bank's...
California Commercial Code Section 4104
(a) In this division unless the context otherwise requires: (1) "Account" means any deposit or credit account with a bank, including a demand,...
California Commercial Code Section 4105
In this division: (1) "Bank" means a person engaged in the business of banking, including a savings bank, savings and loan association, credit...
California Commercial Code Section 4106
(a) If an item states that it is "payable through" a bank identified in the item, (1) the item designates the bank as a collecting bank and does not...
California Commercial Code Section 4107
A branch or separate office of a bank is a separate bank for the purpose of computing the time within which and determining the place at or to which...
California Commercial Code Section 4108
(a) For the purpose of allowing time to process items, prove balances, and make the necessary entries on its books to determine its position for the...
California Commercial Code Section 4109
(a) Unless otherwise instructed, a collecting bank in a good faith effort to secure payment of a specific item drawn on a payor other than a bank,...
California Commercial Code Section 4110
(a) "Agreement for electronic presentment" means an agreement, clearing house rule, or Federal Reserve regulation or operating circular, providing...
California Commercial Code Section 4111
An action to enforce an obligation, duty, or right arising under this division shall be commenced within three years after the cause of action...
California Commercial Code Section 4201
(a) Unless a contrary intent clearly appears and before the time that a settlement given by a collecting bank for an item is or becomes final, the...
California Commercial Code Section 4202
(a) A collecting bank shall exercise ordinary care in all of the following: (1) Presenting an item or sending it for presentment. (2) Sending...
California Commercial Code Section 4203
Subject to Division 3 (commencing with Section 3101) concerning conversion of instruments (Section 3420) and restrictive indorsements (Section 3206),
California Commercial Code Section 4204
(a) A collecting bank shall send items by reasonably prompt method, taking into consideration relevant instructions, the nature of the item, the...
California Commercial Code Section 4205
If a customer delivers an item to a depositary bank for collection both of the following apply: (a) The depositary bank becomes a holder of the...
California Commercial Code Section 4206
Any agreed method that identifies the transferor bank is sufficient for the item's further transfer to another bank.
California Commercial Code Section 4207
(a) A customer or collecting bank that transfers an item and receives a settlement or other consideration warrants to the transferee and to any...
California Commercial Code Section 4208
(a) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, (i) the person obtaining...
California Commercial Code Section 4209
(a) A person who encodes information on or with respect to an item after issue warrants to any subsequent collecting bank and to the payor bank or...
California Commercial Code Section 4210
(a) A collecting bank has a security interest in an item and any accompanying documents or the proceeds of either: (1) In case of an item...
California Commercial Code Section 4211
For purposes of determining its status as a holder in due course, a bank has given value to the extent it has a security interest in an item, if the...
California Commercial Code Section 4212
(a) Unless otherwise instructed, a collecting bank may present an item not payable by, through, or at a bank by sending to the party to accept or pay
California Commercial Code Section 4213
(a) With respect to settlement by a bank, the medium and time of settlement may be prescribed by Federal Reserve regulations or circulars, clearing...
California Commercial Code Section 4214
(a) If a collecting bank has made provisional settlement with its customer for an item and fails by reason of dishonor, suspension of payments by a...
California Commercial Code Section 4215
(a) An item is finally paid by a payor bank when the bank has first done any of the following: (1) Paid the item in cash. (2) Settled for the...
California Commercial Code Section 4216
(a) If an item is in or comes into the possession of a payor or collecting bank that suspends payment and the item has not been finally paid, the...
California Commercial Code Section 4301
(a) If a payor bank settles for a demand item other than a documentary draft presented otherwise than for immediate payment over the counter before...
California Commercial Code Section 4302
(a) If an item is presented to and received by a payor bank, the bank is accountable for the amount of either: (1) A demand item, other than a...
California Commercial Code Section 4303
(a) Any knowledge, notice, or stop-payment order received by, legal process served upon, or setoff exercised by a payor bank comes too late to...
California Commercial Code Section 4401
(a) A bank may charge against the account of a customer an item that is properly payable from that account even though the charge creates an...
California Commercial Code Section 4402
(a) Except as otherwise provided in this division, a payor bank wrongfully dishonors an item if it dishonors an item that is properly payable, but a...
California Commercial Code Section 4403
(a) A customer or any person authorized to draw on the account if there is more than one person may stop payment of any item drawn on the customer's...
California Commercial Code Section 4404
A bank is under no obligation to a customer having a checking account to pay a check, other than a certified check, which is presented more than six...
California Commercial Code Section 4405
(a) A payor or collecting bank's authority to accept, pay, or collect an item or to account for proceeds of its collection, if otherwise effective,...
California Commercial Code Section 4406
(a) A bank that sends or makes available to a customer a statement of account showing payment of items for the account shall either return or make...
California Commercial Code Section 4406
(a) A bank that sends or makes available to a customer a statement of account showing payment of items for the account shall either return or make...
California Commercial Code Section 4407
If a payor bank has paid an item over the order of the drawer or maker to stop payment, or after an account has been closed, or otherwise under...
California Commercial Code Section 4501
A bank that takes a documentary draft for collection shall present or send the draft and accompanying documents for presentment and, upon learning...
California Commercial Code Section 4502
If a draft or the relevant instructions require presentment "on arrival," "when goods arrive" or the like, the collecting bank need not present until
California Commercial Code Section 4503
Unless otherwise instructed and except as provided in Division 5 (commencing with Section 5101), a bank presenting a documentary draft: (a) Shall...
California Commercial Code Section 4504
(a) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a...
California Commercial Code Section 5101
This division may be cited as Uniform Commercial Code--Letters of Credit.
California Commercial Code Section 5102
(a) In this division: (1) "Adviser" means a person who, at the request of the issuer, a confirmer, or another adviser, notifies or requests...
California Commercial Code Section 5103
(a) This division applies to letters of credit and to certain rights and obligations arising out of transactions involving letters of credit. (b)...
California Commercial Code Section 5104
A letter of credit, confirmation, advice, transfer, amendment, or cancellation may be issued in any form that is a record and is authenticated (i) by
California Commercial Code Section 5105
Consideration is not required to issue, amend, transfer, or cancel a letter of credit, advice, or confirmation.
California Commercial Code Section 5106
(a) A letter of credit is issued and becomes enforceable according to its terms against the issuer when the issuer sends or otherwise transmits it to
California Commercial Code Section 5107
(a) A confirmer is directly obligated on a letter of credit and has the rights and obligations of an issuer to the extent of its confirmation. The...
California Commercial Code Section 5108
(a) Except as otherwise provided in Section 5109, an issuer shall honor a presentation that, as determined by the standard practice referred to in...
California Commercial Code Section 5109
(a) If a presentation is made that appears on its face strictly to comply with the terms and conditions of the letter of credit, but a required...
California Commercial Code Section 5110
(a) If its presentation is honored, the beneficiary warrants: (1) to the issuer, any other person to whom presentation is made, and the applicant
California Commercial Code Section 5111
(a) If an issuer wrongfully dishonors or repudiates its obligation to pay money under a letter of credit before presentation, the beneficiary,...
California Commercial Code Section 5112
(a) Except as otherwise provided in Section 5113, unless a letter of credit provides that it is transferable, the right of a beneficiary to draw or...
California Commercial Code Section 5113
(a) A successor of a beneficiary may consent to amendments, sign and present documents, and receive payment or other items of value in the name of...
California Commercial Code Section 5114
(a) In this section, "proceeds of a letter of credit" means the cash, check, accepted draft, or other item of value paid or delivered upon honor or...
California Commercial Code Section 5115
An action to enforce a right or obligation arising under this article must be commenced within one year after the expiration date of the relevant...
California Commercial Code Section 5116
(a) The liability of an issuer, nominated person, or adviser for action or omission is governed by the law of the jurisdiction chosen by an agreement
California Commercial Code Section 5117
(a) An issuer that honors a beneficiary's presentation is subrogated to the rights of the beneficiary to the same extent as if the issuer were a...
California Commercial Code Section 5118
(a) An issuer or nominated person has a security interest in a document presented under a letter of credit to the extent that the issuer or nominated
California Commercial Code Section 6101
This division shall be known and may be cited as Uniform Commercial Code--Bulk Sales.
California Commercial Code Section 6102
(a) In this division, unless the context otherwise requires: (1) "Assets" means the inventory and equipment that is the subject of a bulk sale...
California Commercial Code Section 6103
(a) Except as otherwise provided in subdivision (c), this division applies to a bulk sale if both of the following are satisfied: (1) The seller's
California Commercial Code Section 6104
In a bulk sale as defined in subparagraph (ii) of paragraph (3) of subdivision (a) of Section 6102 the buyer shall do each of the following: (a)...
California Commercial Code Section 6105
In order to comply with subdivision (b) of Section 6104 each of the following shall be satisfied: (a) The notice shall comply with each of the...
California Commercial Code Section 6106.2
(a) This section applies only to a bulk sale where the consideration is two million dollars ($2,000,000) or less and is substantially all cash or an...
California Commercial Code Section 6106.4
In any case where the notice of a bulk sale subject to Section 6106.2 states that claims may be filed with an escrow agent, the intended buyer shall...
California Commercial Code Section 6107
(a) Except as provided in subdivision (c), and subject to the limitation in subdivision (d), a buyer who fails to comply with the requirements of...
California Commercial Code Section 6108
(a) Sections 6104, 6105, and 6107 apply to a bulk sale by auction and a bulk sale conducted by a liquidator on the seller's behalf with the following
California Commercial Code Section 6110
(a) Except as provided in subdivision (b), an action under this division against a buyer, auctioneer, or liquidator shall be commenced within one...
California Commercial Code Section 6111
(a) Except to the extent provided in subdivision (b), this division shall apply to a bulk sale if the date of the bulk sale is on or after January 1,
California Commercial Code Section 7101
This division may be cited as the Uniform Commercial Code--Documents of Title.
California Commercial Code Section 7102
(a) In this division, unless the context otherwise requires: (1) "Bailee" means a person that by a warehouse receipt, bill of lading, or other...
California Commercial Code Section 7103
(a) This division is subject to any treaty or statute of the United States or regulatory statute of this state to the extent the treaty, statute, or...
California Commercial Code Section 7104
(a) Except as otherwise provided in subdivision (c), a document of title is negotiable if by its terms the goods are to be delivered to bearer or to...
California Commercial Code Section 7105
(a) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of...
California Commercial Code Section 7106
(a) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document...
California Commercial Code Section 7201
(a) A warehouse receipt may be issued by any warehouse. (b) If goods, including distilled spirits and agricultural commodities, are stored under a
California Commercial Code Section 7202
(a) A warehouse receipt need not be in any particular form. (b) Unless a warehouse receipt provides for each of the following, the warehouse is...
California Commercial Code Section 7203
A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in
California Commercial Code Section 7204
(a) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a...
California Commercial Code Section 7205
A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such...
California Commercial Code Section 7206
(a) A warehouse, by giving notice to the person on whose account the goods are held and any other person known to claim an interest in the goods, may
California Commercial Code Section 7207
(a) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times...
California Commercial Code Section 7208
If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good-faith purchaser for value and without notice of...
California Commercial Code Section 7209
(a) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its...
California Commercial Code Section 7210
(a) Except as otherwise provided in subdivision (b), a warehouse's lien may be enforced by public or private sale of the goods, in bulk or in...
California Commercial Code Section 7301
(a) A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder to which a negotiable bill has been duly...
California Commercial Code Section 7302
(a) The issuer of a through bill of lading, or other document of title embodying an undertaking to be performed in part by a person acting as its...
California Commercial Code Section 7303
(a) Unless the bill of lading otherwise provides, a carrier may deliver the goods to a person or destination other than that stated in the bill or...
California Commercial Code Section 7304
(a) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for...
California Commercial Code Section 7305
(a) Instead of issuing a bill of lading to the consignor at the place of shipment, a carrier, at the request of the consignor, may procure the bill...
California Commercial Code Section 7306
An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor.
California Commercial Code Section 7307
(a) A carrier has a lien on the goods covered by a bill of lading or on the proceeds thereof in its possession for charges after the date of the...
California Commercial Code Section 7308
(a) A carrier's lien on goods may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms...
California Commercial Code Section 7309
(a) A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall exercise the degree of care in relation to the goods which a...
California Commercial Code Section 7401
The obligations imposed by this division on an issuer apply to a document of title even if: (1) the document does not comply with the requirements
California Commercial Code Section 7402
A duplicate or any other document of title purporting to cover goods already represented by an outstanding document of the same issuer does not...
California Commercial Code Section 7403
(a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with subdivisions (b) and (c), unless and...
California Commercial Code Section 7404
A bailee that in good faith has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or...
California Commercial Code Section 7501
(a) The following rules apply to a negotiable tangible document of title: (1) If the document's original terms run to the order of a named person,
California Commercial Code Section 7502
(a) Subject to Sections 7205 and 7503, a holder to which a negotiable document of title has been duly negotiated acquires thereby: (1) title to...
California Commercial Code Section 7503
(a) A document of title confers no right in goods against a person that before issuance of the document had a legal interest or a perfected security...
California Commercial Code Section 7504
(a) A transferee of a document of title, whether negotiable or nonnegotiable, to which the document has been delivered but not duly negotiated,...
California Commercial Code Section 7505
The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous...
California Commercial Code Section 7506
The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply any necessary...
California Commercial Code Section 7507
If a person negotiates or delivers a document of title for value, otherwise than as a mere intermediary under Section 7508, unless otherwise agreed,...
California Commercial Code Section 7508
A collecting bank or other intermediary known to be entrusted with documents of title on behalf of another or with collection of a draft or other...
California Commercial Code Section 7509
Whether a document of title is adequate to fulfill the obligations of a contract for sale, a contract for lease, or the conditions of a letter of...
California Commercial Code Section 7601
(a) If a document of title is lost, stolen, or destroyed, a court may order delivery of the goods or issuance of a substitute document and the bailee
California Commercial Code Section 7602
Unless a document of title was originally issued upon delivery of the goods by a person that did not have power to dispose of them, a lien does not...
California Commercial Code Section 7603
If more than one person claims title to or possession of the goods, the bailee is excused from delivery until the bailee has a reasonable time to...
California Commercial Code Section 8101
This division may be cited as Uniform Commercial Code--Investment Securities.
California Commercial Code Section 8102
(a) In this division: (1) "Adverse claim" means a claim that a claimant has a property interest in a financial asset and that it is a violation of
California Commercial Code Section 8103
(a) A share or similar equity interest issued by a corporation, business trust, joint stock company, or similar entity is a security. (b) An...
California Commercial Code Section 8104
(a) A person acquires a security or an interest therein, under this division, if either of the following applies: (1) The person is a purchaser to
California Commercial Code Section 8105
(a) A person has notice of an adverse claim if any of the following applies: (1) The person knows of the adverse claim. (2) The person is aware
California Commercial Code Section 8106
(a) A purchaser has "control" of a certificated security in bearer form if the certificated security is delivered to the purchaser. (b) A...
California Commercial Code Section 8107
(a) "Appropriate person" means any of the following: (1) With respect to an endorsement, the person specified by a security certificate or by an...
California Commercial Code Section 8108
(a) A person who transfers a certificated security to a purchaser for value warrants to the purchaser, and an endorser, if the transfer is by...
California Commercial Code Section 8109
(a) A person who originates an entitlement order to a securities intermediary warrants all of the following to the securities intermediary: (1)...
California Commercial Code Section 8110
(a) The local law of the issuer's jurisdiction, as specified in subdivision (d), governs the following: (1) The validity of a security. (2) The
California Commercial Code Section 8111
A rule adopted by a clearing corporation governing rights and obligations among the clearing corporation and its participants in the clearing...
California Commercial Code Section 8112
(a) The interest of a debtor in a certificated security may be reached by a creditor only by actual seizure of the security certificate by the...
California Commercial Code Section 8113
A contract or modification of a contract for the sale or purchase of a security is enforceable whether or not there is a writing signed or record...
California Commercial Code Section 8114
The following rules apply in an action on a certificated security against the issuer: (a) Unless specifically denied in the pleadings, each...
California Commercial Code Section 8115
A securities intermediary that has transferred a financial asset pursuant to an effective entitlement order, or a broker or other agent or bailee...
California Commercial Code Section 8116
A securities intermediary that receives a financial asset and establishes a security entitlement to the financial asset in favor of an entitlement...
California Commercial Code Section 8201
(a) With respect to an obligation on or a defense to a security, an "issuer" includes a person that does any of the following: (1) Places or...
California Commercial Code Section 8202
(a) Even against a purchaser for value and without notice, the terms of a certificated security include terms stated on the certificate and terms...
California Commercial Code Section 8203
After an act or event, other than a call that has been revoked, creating a right to immediate performance of the principal obligation represented by...
California Commercial Code Section 8204
A restriction on transfer of a security imposed by the issuer, even if otherwise lawful, is ineffective against a person without knowledge of the...
California Commercial Code Section 8205
An unauthorized signature placed on a security certificate before or in the course of issue is ineffective, but the signature is effective in favor...
California Commercial Code Section 8206
(a) If a security certificate contains the signatures necessary to its issue or transfer but is incomplete in any other respect, the following...
California Commercial Code Section 8207
(a) Before due presentment for registration of transfer of a certificated security in registered form or of an instruction requesting registration of
California Commercial Code Section 8208
(a) A person signing a security certificate as authenticating trustee, registrar, transfer agent, or the like, warrants all of the following to a...
California Commercial Code Section 8209
A lien in favor of an issuer upon a certificated security is valid against a purchaser only if the right of the issuer to the lien is noted...
California Commercial Code Section 8210
(a) In this section, "overissue" means the issue of securities in excess of the amount the issuer has corporate power to issue, but an overissue does
California Commercial Code Section 8301
(a) Delivery of a certificated security to a purchaser occurs when any of the following occur: (1) The purchaser acquires possession of the...
California Commercial Code Section 8302
(a) Except as otherwise provided in subdivisions (b) and (c), a purchaser of a certificated or uncertificated security acquires all rights in the...
California Commercial Code Section 8303
(a) "Protected purchaser" means a purchaser of a certificated or uncertificated security, or of an interest therein, who does all of the following:
California Commercial Code Section 8304
(a) An endorsement may be in blank or special. An endorsement in blank includes an endorsement to bearer. A special endorsement specifies to whom a
California Commercial Code Section 8305
(a) If an instruction has been originated by an appropriate person but is incomplete in any other respect, any person may complete it as authorized...
California Commercial Code Section 8306
(a) A person who guarantees a signature of an endorser of a security certificate warrants that at the time of signing all of the following were...
California Commercial Code Section 8307
Unless otherwise agreed, the transferor of a security on due demand shall supply the purchaser with proof of authority to transfer or with any other...
California Commercial Code Section 8401
(a) If a certificated security in registered form is presented to an issuer with a request to register transfer or an instruction is presented to an...
California Commercial Code Section 8402
(a) An issuer may require the following assurance that each necessary endorsement or each instruction is genuine and authorized: (1) In all...
California Commercial Code Section 8403
(a) A person who is an appropriate person to make an endorsement or originate an instruction may demand that the issuer not register transfer of a...
California Commercial Code Section 8404
(a) Except as otherwise provided in Section 8406, an issuer is liable for wrongful registration of transfer if the issuer has registered a transfer...
California Commercial Code Section 8405
(a) If an owner of a certificated security, whether in registered or bearer form, claims that the certificate has been lost, destroyed, or wrongfully
California Commercial Code Section 8406
If a security certificate has been lost, apparently destroyed, or wrongfully taken, and the owner fails to notify the issuer of that fact within a...
California Commercial Code Section 8407
A person acting as authenticating trustee, transfer agent, registrar, or other agent for an issuer in the registration of a transfer of its...
California Commercial Code Section 8501
(a) "Securities account" means an account to which a financial asset is or may be credited in accordance with an agreement under which the person...
California Commercial Code Section 8502
An action based on an adverse claim to a financial asset, whether framed in conversion, replevin, constructive trust, equitable lien, or other...
California Commercial Code Section 8503
(a) To the extent necessary for a securities intermediary to satisfy all security entitlements with respect to a particular financial asset, all...
California Commercial Code Section 8504
(a) A securities intermediary shall promptly obtain and thereafter maintain a financial asset in a quantity corresponding to the aggregate of all...
California Commercial Code Section 8505
(a) A securities intermediary shall take action to obtain a payment or distribution made by the issuer of a financial asset. A securities...
California Commercial Code Section 8506
A securities intermediary shall exercise rights with respect to a financial asset if directed to do so by an entitlement holder. A securities...
California Commercial Code Section 8507
(a) A securities intermediary shall comply with an entitlement order if the entitlement order is originated by the appropriate person, the securities
California Commercial Code Section 8508
A securities intermediary shall act at the direction of an entitlement holder to change a security entitlement into another available form of holding
California Commercial Code Section 8509
(a) If the substance of a duty imposed upon a securities intermediary by Sections 8504 to 8508, inclusive, is the subject of a federal statute,...
California Commercial Code Section 8510
(a) In a case not covered by the priority rules in Division 9 (commencing with Section 9101) or the rules stated in subdivision (c), an action based...
California Commercial Code Section 8511
(a) Except as otherwise provided in subdivisions (b) and (c), if a securities intermediary does not have sufficient interests in a particular...
California Commercial Code Section 8601
This division becomes operative January 1, 1997.
California Commercial Code Section 8603
(a) This division does not affect an action or proceeding commenced before this division becomes operative. (b) If a security interest in a...
California Commercial Code Section 9101
This division may be cited as the Uniform Commercial Code-Secured Transactions.
California Commercial Code Section 9102
(a) In this division: (1) "Accession" means goods that are physically united with other goods in such a manner that the identity of the original...
California Commercial Code Section 9103
(a) In this section: (1) "Purchase money collateral" means goods or software that secures a purchase money obligation incurred with respect to...
California Commercial Code Section 9104
(a) A secured party has control of a deposit account if any of the following conditions is satisfied: (1) The secured party is the bank with which
California Commercial Code Section 9105
A secured party has control of electronic chattel paper if the record or records comprising the chattel paper are created, stored, and assigned in...
California Commercial Code Section 9106
(a) A person has control of a certificated security, uncertificated security, or security entitlement as provided in Section 8106. (b) A secured...
California Commercial Code Section 9107
A secured party has control of a letter-of-credit right to the extent of any right to payment or performance by the issuer or any nominated person if
California Commercial Code Section 9108
(a) Except as otherwise provided in subdivisions (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is...
California Commercial Code Section 9109
(a) Except as otherwise provided in subdivisions (c) and (d), this division applies to each of the following: (1) A transaction, regardless of its
California Commercial Code Section 9110
A security interest arising under Section 2401 or 2505, or under subdivision (3) of Section 2711, or subdivision (e) of Section 10508 is subject to...
California Commercial Code Section 9201
(a) Except as otherwise provided in this code, a security agreement is effective according to its terms between the parties, against purchasers of...
California Commercial Code Section 9202
Except as otherwise provided with respect to consignments or sales of accounts, chattel paper, payment intangibles, or promissory notes, the...
California Commercial Code Section 9203
(a) A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement...
California Commercial Code Section 9204
(a) Except as otherwise provided in subdivision (b), a security agreement may create or provide for a security interest in after-acquired...
California Commercial Code Section 9205
(a) A security interest is not invalid or fraudulent against creditors solely because either of the following applies: (1) The debtor has the...
California Commercial Code Section 9206
(a) A security interest in favor of a securities intermediary attaches to a person's security entitlement if both of the following conditions are...
California Commercial Code Section 9207
(a) Except as otherwise provided in subdivision (d), a secured party shall use reasonable care in the custody and preservation of collateral in the...
California Commercial Code Section 9208
(a) This section applies to cases in which there is no outstanding secured obligation and the secured party is not committed to make advances, incur...
California Commercial Code Section 9209
(a) Except as otherwise provided in subdivision (c), this section applies if both of the following conditions are satisfied: (1) There is no...
California Commercial Code Section 9210
(a) In this section: (1) "Request" means a record of a type described in paragraph (2), (3), or (4). (2) "Request for an accounting" means a...
California Commercial Code Section 9301
Except as otherwise provided in Sections 9303 to 9306, inclusive, the following rules determine the law governing perfection, the effect of...
California Commercial Code Section 9302
While farm products are located in a jurisdiction, the local law of that jurisdiction governs perfection, the effect of perfection or nonperfection,...
California Commercial Code Section 9303
(a) This section applies to goods covered by a certificate of title, even if there is no other relationship between the jurisdiction under whose...
California Commercial Code Section 9304
(a) The local law of a bank's jurisdiction governs perfection, the effect of perfection or nonperfection, and the priority of a security interest in...
California Commercial Code Section 9305
(a) Except as otherwise provided in subdivision (c), the following rules apply: (1) While a security certificate is located in a jurisdiction,...
California Commercial Code Section 9306
(a) Subject to subdivision (c), the local law of the issuer's jurisdiction or a nominated person's jurisdiction governs perfection, the effect of...
California Commercial Code Section 9307
(a) In this section, "place of business" means a place where a debtor conducts its affairs. (b) Except as otherwise provided in this section, the...
California Commercial Code Section 9308
(a) Except as otherwise provided in this section and in Section 9309, a security interest is perfected if it has attached and all of the applicable...
California Commercial Code Section 9309
The following security interests are perfected when they attach: (1) A purchase money security interest in consumer goods, except as otherwise...
California Commercial Code Section 9310
(a) Except as otherwise provided in subdivision (b) and in subdivision (b) of Section 9312, a financing statement must be filed to perfect all...
California Commercial Code Section 9311
(a) Except as otherwise provided in subdivision (d), the filing of a financing statement is not necessary or effective to perfect a security interest
California Commercial Code Section 9312
(a) A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (b) Except as...
California Commercial Code Section 9313
(a) Except as otherwise provided in subdivision (b), a secured party may perfect a security interest in tangible negotiable documents, goods,...
California Commercial Code Section 9314
(a) A security interest in investment property, deposit accounts, letter-of-credit rights, electronic chattel paper, or electronic documents may be...
California Commercial Code Section 9315
(a) Except as otherwise provided in this division and in subdivision (2) of Section 2403, both of the following apply: (1) A security interest or...
California Commercial Code Section 9316
(a) A security interest perfected pursuant to the law of the jurisdiction designated in subdivision (1) of Section 9301 or in subdivision (c) of...
California Commercial Code Section 9317
(a) A security interest or agricultural lien is subordinate to the rights of both of the following: (1) A person entitled to priority under...
California Commercial Code Section 9318
(a) A debtor that has sold an account, chattel paper, payment intangible, or promissory note does not retain a legal or equitable interest in the...
California Commercial Code Section 9319
(a) Except as otherwise provided in subdivision (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from,...
California Commercial Code Section 9320
(a) Except as otherwise provided in subdivision (e), a buyer in ordinary course of business takes free of a security interest created by the buyer's...
California Commercial Code Section 9321
(a) A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the...
California Commercial Code Section 9321
(a) A lessee in ordinary course of business takes its leasehold interest free of a security interest in the goods created by the lessor, even if the...
California Commercial Code Section 9322
(a) Except as otherwise provided in this section, priority among conflicting security interests and agricultural liens in the same collateral is...
California Commercial Code Section 9323
(a) Except as otherwise provided in subdivision (c), for purposes of determining the priority of a perfected security interest under paragraph (1) of
California Commercial Code Section 9324
(a) Except as otherwise provided in subdivision (g), a perfected purchase money security interest in goods other than inventory or livestock has...
California Commercial Code Section 9325
(a) Except as otherwise provided in subdivision (b), a security interest created by a debtor is subordinate to a security interest in the same...
California Commercial Code Section 9326
(a) Subject to subdivision (b), a security interest created by a new debtor which is perfected by a filed financing statement that is effective...
California Commercial Code Section 9327
The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured...
California Commercial Code Section 9328
The following rules govern priority among conflicting security interests in the same investment property: (1) A security interest held by a...
California Commercial Code Section 9329
The following rules govern priority among conflicting security interests in the same letter-of-credit right: (1) A security interest held by a...
California Commercial Code Section 9330
(a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory subject...
California Commercial Code Section 9331
(a) This division does not limit the rights of a holder in due course of a negotiable instrument, a holder to which a negotiable document of title...
California Commercial Code Section 9332
(a) A transferee of money takes the money free of a security interest unless the transferee acts in collusion with the debtor in violating the rights
California Commercial Code Section 9333
(a) In this section, "possessory lien" means an interest, other than a security interest or an agricultural lien which satisfies all of the following
California Commercial Code Section 9334
(a) A security interest under this division may be created in goods that are fixtures or may continue in goods that become fixtures. A security...
California Commercial Code Section 9335
(a) A security interest may be created in an accession and continues in collateral that becomes an accession. (b) If a security interest is...
California Commercial Code Section 9336
(a) In this section, "commingled goods" means goods that are physically united with other goods in such a manner that their identity is lost in a...
California Commercial Code Section 9337
If, while a security interest in goods is perfected by any method under the law of another jurisdiction, this state issues a certificate of title...
California Commercial Code Section 9338
If a security interest or agricultural lien is perfected by a filed financing statement providing information described in paragraph (5) of...
California Commercial Code Section 9339
This division does not preclude subordination by agreement by a person entitled to priority.
California Commercial Code Section 9340
(a) Except as otherwise provided in subdivision (c), a bank with which a deposit account is maintained may exercise any right of recoupment or setoff
California Commercial Code Section 9341
Except as otherwise provided in subdivision (c) of Section 9340, and unless the bank otherwise agrees in an authenticated record, a bank's rights and
California Commercial Code Section 9342
This division does not require a bank to enter into an agreement of the kind described in paragraph (2) of subdivision (a) of Section 9104, even if...
California Commercial Code Section 9401
(a) Except as otherwise provided in subdivision (b) and in Sections 9406, 9407, 9408, and 9409, whether a debtor's rights in collateral may be...
California Commercial Code Section 9402
The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not...
California Commercial Code Section 9403
(a) In this section, "value" has the meaning provided in subdivision (a) of Section 3303. (b) Except as otherwise provided in this section, an...
California Commercial Code Section 9404
(a) Unless an account debtor has made an enforceable agreement not to assert defenses or claims, and subject to subdivisions (b) to (e), inclusive,...
California Commercial Code Section 9405
(a) A modification of or substitution for an assigned contract is effective against an assignee if made in good faith. The assignee acquires...
California Commercial Code Section 9406
(a) Subject to subdivisions (b) to (i), inclusive, an account debtor on an account, chattel paper, or a payment intangible may discharge its...
California Commercial Code Section 9407
(a) Except as otherwise provided in subdivision (b), a term in a lease agreement is ineffective to the extent that it does either of the following:
California Commercial Code Section 9408
(a) Except as otherwise provided in subdivision (b), a term in a promissory note or in an agreement between an account debtor and a debtor that...
California Commercial Code Section 9409
(a) A term in a letter of credit or a rule of law, statute, regulation, custom, or practice applicable to the letter of credit which prohibits,...
California Commercial Code Section 9501
(a) Except as otherwise provided in subdivision (b), if the local law of this state governs perfection of a security interest or agricultural lien,...
California Commercial Code Section 9502
(a) Subject to subdivision (b), a financing statement is sufficient only if it satisfies all of the following conditions: (1) It provides the name
California Commercial Code Section 9503
(a) A financing statement sufficiently provides the name of the debtor only if it does so in accordance with the following rules: (1) If the...
California Commercial Code Section 9504
A financing statement sufficiently indicates the collateral that it covers if the financing statement provides either of the following: (1) A...
California Commercial Code Section 9505
(a) A consignor, lessor, or other bailor of goods, a licensor, or a buyer of a payment intangible or promissory note may file a financing statement,...
California Commercial Code Section 9506
(a) A financing statement substantially satisfying the requirements of this part is effective, even if it has minor errors or omissions, unless the...
California Commercial Code Section 9507
(a) A filed financing statement remains effective with respect to collateral that is sold, exchanged, leased, licensed, or otherwise disposed of and...
California Commercial Code Section 9508
(a) Except as otherwise provided in this section, a filed financing statement naming an original debtor is effective to perfect a security interest...
California Commercial Code Section 9509
(a) A person may file an initial financing statement, an amendment that adds collateral covered by a financing statement, or an amendment that adds a
California Commercial Code Section 9510
(a) A filed record is effective only to the extent that it was filed by a person that may file it under Section 9509. (b) A record authorized by...
California Commercial Code Section 9511
(a) A secured party of record with respect to a financing statement is a person whose name is provided as the name of the secured party or a...
California Commercial Code Section 9512
(a) Subject to Section 9509, a person may add or delete collateral covered by, continue or terminate the effectiveness of, or, subject to subdivision
California Commercial Code Section 9513
(a) A secured party shall cause the secured party of record for a financing statement to file a termination statement for the financing statement if...
California Commercial Code Section 9514
(a) Except as otherwise provided in subdivision (c), an initial financing statement may reflect an assignment of all of the secured party's power to...
California Commercial Code Section 9515
(a) Except as otherwise provided in subdivisions (b), (e), (f), and (g), a filed financing statement is effective for a period of five years after...
California Commercial Code Section 9516
(a) Except as otherwise provided in subdivision (b), communication of a record to a filing office and tender of the filing fee or acceptance of the...
California Commercial Code Section 9517
The failure of the filing office to index a record correctly does not affect the effectiveness of the filed record.
California Commercial Code Section 9518
(a) A person may file in the filing office a correction statement with respect to a record indexed there under the person's name if the person...
California Commercial Code Section 9519
(a) For each record filed in a filing office, the filing office shall do all of the following: (1) Assign a unique number to the filed record. ...
California Commercial Code Section 9520
(a) A filing office shall refuse to accept a record for filing for a reason set forth in subdivision (b) of Section 9516 and may refuse to accept a...
California Commercial Code Section 9521
(a) A filing office that accepts written records may not refuse to accept a written initial financing statement in the following form and format or...
California Commercial Code Section 9522
(a) The filing office shall maintain a record of the information provided in a filed financing statement for at least one year after the...
California Commercial Code Section 9523
(a) If a person that files a written record requests an acknowledgment of the filing, the filing office shall send to the person an image of the...
California Commercial Code Section 9524
Delay by the filing office beyond a time limit prescribed by this chapter is excused if both of the following conditions are satisfied: (1) The...
California Commercial Code Section 9525
(a) Except as otherwise provided in subdivision (d), the fee for filing and indexing a record under this chapter is set forth in subdivisions (a),...
California Commercial Code Section 9526
(a) The Secretary of State shall adopt and publish rules to implement this division. The filing-office rules shall be consistent with this...
California Commercial Code Section 9526.5
(a) For purposes of this section, the following terms have the following meanings: (1) "Official filing" means the permanent archival filing of...
California Commercial Code Section 9527
The Secretary of State shall report annually on or before January 31 to the Legislature on the operation of the filing office. The report must...
California Commercial Code Section 9528
Upon the request of any person, the Secretary of State shall issue a combined certificate showing the information as to financing statements as...
California Commercial Code Section 9601
(a) After default, a secured party has the rights provided in this chapter and, except as otherwise provided in Section 9602, those rights provided...
California Commercial Code Section 9602
Except as otherwise provided in Section 9624, to the extent that they give rights to a debtor or obligor and impose duties on a secured party, the...
California Commercial Code Section 9603
(a) The parties may determine by agreement the standards measuring the fulfillment of the rights of a debtor or obligor and the duties of a secured...
California Commercial Code Section 9604
(a) If an obligation secured by a security interest in personal property or fixtures is also secured by an interest in real property or an estate...
California Commercial Code Section 9605
A secured party does not owe a duty based on its status as secured party to either of the following persons: (1) To a person that is a debtor or...
California Commercial Code Section 9606
For purposes of this chapter, a default occurs in connection with an agricultural lien at the time the secured party becomes entitled to enforce the...
California Commercial Code Section 9607
(a) If so agreed, and in any event after default, a secured party may do all of the following: (1) Notify an account debtor or other person...
California Commercial Code Section 9608
(a) If a security interest or agricultural lien secures payment or performance of an obligation, the following rules apply: (1) A secured party...
California Commercial Code Section 9609
(a) After default, a secured party may do both of the following: (1) Take possession of the collateral. (2) Without removal, render equipment...
California Commercial Code Section 9610
(a) After default, a secured party may sell, lease, license, or otherwise dispose of any or all of the collateral in its present condition or...
California Commercial Code Section 9611
(a) In this section, "notification date" means the earlier of the date on which: (1) A secured party sends to the debtor and any secondary...
California Commercial Code Section 9612
(a) Except as otherwise provided in subdivision (b), whether a notification is sent within a reasonable time is a question of fact. (b) In a...
California Commercial Code Section 9613
Except in a consumer-goods transaction, the following rules apply: (1) The contents of a notification of disposition are sufficient if the...
California Commercial Code Section 9614
In a consumer-goods transaction, the following rules apply: (1) A notification of disposition must provide all of the following information: ...
California Commercial Code Section 9615
(a) A secured party shall apply or pay over for application the cash proceeds of disposition under Section 9610 in the following order to each of the
California Commercial Code Section 9616
(a) In this section: (1) "Explanation" means a writing that contains all of the following: (A) States the amount of the surplus or deficiency.
California Commercial Code Section 9617
(a) A secured party's disposition of collateral after default does all of the following: (1) Transfers to a transferee for value all of the...
California Commercial Code Section 9618
(a) A secondary obligor acquires the rights and becomes obligated to perform the duties of the secured party after any of the following occurs: ...
California Commercial Code Section 9619
(a) In this section, "transfer statement" means a record authenticated by a secured party stating all of the following: (1) That the debtor has...
California Commercial Code Section 9620
(a) Except as otherwise provided in subdivision (g), a secured party may accept collateral in full or partial satisfaction of the obligation it...
California Commercial Code Section 9621
(a) A secured party that desires to accept collateral in full or partial satisfaction of the obligation it secures shall send its proposal to all of...
California Commercial Code Section 9622
(a) A secured party's acceptance of collateral in full or partial satisfaction of the obligation it secures does all of the following: (1) It...
California Commercial Code Section 9623
(a) A debtor, any secondary obligor, or any other secured party or lienholder may redeem collateral. (b) To redeem collateral, a person shall...
California Commercial Code Section 9624
(a) A debtor or secondary obligor may waive the right to notification of disposition of collateral under Section 9611 only by an agreement to that...
California Commercial Code Section 9625
(a) If it is established that a secured party is not proceeding in accordance with this division, a court may order or restrain collection,...
California Commercial Code Section 9626
(a) In an action arising from a transaction, other than a consumer transaction, in which the amount of a deficiency or surplus is in issue, the...
California Commercial Code Section 9627
(a) The fact that a greater amount could have been obtained by a collection, enforcement, disposition, or acceptance at a different time or in a...
California Commercial Code Section 9628
(a) Unless a secured party knows that a person is a debtor or obligor, knows the identity of the person, and knows how to communicate with the person
California Commercial Code Section 9629
No renunciation or modification by the debtor of any of his or her rights under this chapter as to consumer goods shall be valid or enforceable...
California Commercial Code Section 9701
This division shall become operative on July 1, 2001.
California Commercial Code Section 9702
(a) Except as otherwise provided in this chapter, this division applies to a transaction or lien within its scope, even if the transaction or lien...
California Commercial Code Section 9703
(a) A security interest that is enforceable immediately before July 1, 2001, and would have priority over the rights of a person that becomes a lien...
California Commercial Code Section 9704
All of the following rules apply with respect to a security interest that is enforceable immediately before July 1, 2001, but which would be...
California Commercial Code Section 9705
(a) If action, other than the filing of a financing statement, is taken before July 1, 2001, and the action would have resulted in priority of a...
California Commercial Code Section 9706
(a) The filing of an initial financing statement in the office specified in Section 9501 continues the effectiveness of a financing statement filed...
California Commercial Code Section 9707
(a) In this section, "pre-effective-date financing statement" means a financing statement filed before the date that this section becomes operative.
California Commercial Code Section 9708
A person may file an initial financing statement or a continuation statement under this chapter if both of the following conditions are satisfied:
California Commercial Code Section 9709
(a) This division determines priority of conflicting claims to collateral. However, if the relative priorities of the claims were established before
California Commercial Code Section 10101
This division shall be known and may be cited as the Uniform Commercial Code--Leases.
California Commercial Code Section 10102
This division applies to any transaction, regardless of form, that creates a lease.
California Commercial Code Section 10103
(a) In this division, unless the context otherwise requires: (1) "Buyer in ordinary course of business" means a person who, in good faith and...
California Commercial Code Section 10104
(a) A lease, although subject to this division, is also subject to any applicable: (1) Certificate of title statute of this state, including the...
California Commercial Code Section 10105
Subject to the provisions of subdivision (c) of Section 10304 and subdivision (c) of Section 10305, with respect to goods covered by a certificate of
California Commercial Code Section 10106
(a) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time...
California Commercial Code Section 10107
Any claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written...
California Commercial Code Section 10201
(a) A lease contract is not enforceable by way of action or defense unless: (1) In a lease contract that is not a consumer lease, the total...
California Commercial Code Section 10202
Terms with respect to which the confirmatory memoranda of the parties agree or which are otherwise set forth in a writing intended by the parties as...
California Commercial Code Section 10204
(a) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a...
California Commercial Code Section 10205
An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance it will be held open is not...
California Commercial Code Section 10206
(a) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting...
California Commercial Code Section 10208
(a) An agreement modifying a lease contract needs no consideration to be binding. (b) A signed lease agreement that excludes modification or...
California Commercial Code Section 10209
(a) The benefit of a supplier's promises to the lessor under the supply contract and of all warranties, whether express or implied, including those...
California Commercial Code Section 10210
(a) Express warranties by the lessor are created as follows: (1) Any affirmation of fact or promise made by the lessor to the lessee which...
California Commercial Code Section 10211
(a) There is in a lease contract a warranty that for the lease term no person holds a claim to or interest in the goods that arose from an act or...
California Commercial Code Section 10212
(a) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect
California Commercial Code Section 10213
Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of any particular purpose for which the goods are...
California Commercial Code Section 10214
(a) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty must be construed...
California Commercial Code Section 10215
Warranties, whether express or implied, must be construed as consistent with each other and as cumulative, but if that construction is unreasonable,...
California Commercial Code Section 10217
Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In...
California Commercial Code Section 10218
(a) A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are...
California Commercial Code Section 10219
(a) Except in the case of a finance lease, risk of loss is retained by the lessor and does not pass to the lessee. In the case of a finance lease,...
California Commercial Code Section 10220
(a) Where risk of loss is to pass to the lessee and the time of passage is not stated: (1) If a tender or delivery of goods so fails to conform to
California Commercial Code Section 10221
If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the lessor,
California Commercial Code Section 10301
Except as otherwise provided in this division, a lease contract is effective and enforceable according to its terms between the parties, against...
California Commercial Code Section 10302
Except as otherwise provided in this division, each provision of this division applies whether the lessor or a third party has title to the goods,...
California Commercial Code Section 10303
(a) As used in the section, "creation of a security interest" includes the sale of a lease contract that is subject to Division 9 (commencing with...
California Commercial Code Section 10304
(a) Subject to Section 10303, a subsequent lessee from a lessor of goods under an existing lease contract obtains, to the extent of the leasehold...
California Commercial Code Section 10305
(a) Subject to the provisions of Section 10303, a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the...
California Commercial Code Section 10306
If a person in the ordinary course of his or her business furnishes services or materials with respect to goods subject to a lease contract, a lien...
California Commercial Code Section 10307
(a) Except as otherwise provided in Section 10306, a creditor of a lessee takes subject to the lease contract. (b) Except as otherwise provided in
California Commercial Code Section 10308
(a) A creditor of a lessor in possession of goods subject to a lease contract may treat the lease contract as void if as against the creditor...
California Commercial Code Section 10309
(a) In this section: (1) Goods are "fixtures" when they become so related to particular real estate that an interest in them arises under real...
California Commercial Code Section 10310
(a) Goods are "accessions" when they are installed in or affixed to other goods. (b) The interest of a lessor or a lessee under a lease contract...
California Commercial Code Section 10311
Nothing in this division prevents subordination by agreement by any person entitled to priority.
California Commercial Code Section 10401
(a) A lease contract imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. (b) If...
California Commercial Code Section 10402
(a) If either party repudiates a lease contract, other than a consumer lease, with respect to a performance not yet due under the lease contract, the
California Commercial Code Section 10403
(a) Until the repudiating party's next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the...
California Commercial Code Section 10404
(a) If without fault of the lessee, the lessor, and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of...
California Commercial Code Section 10405
Subject to Section 10404 on substituted performance, the following rules apply: (1) Delay in delivery or nondelivery in whole or in part by a...
California Commercial Code Section 10406
(a) If the lessee receives notification of a material or indefinite delay or an allocation justified under Section 10405, the lessee may by written...
California Commercial Code Section 10407
(a) In the case of a finance lease that is not a consumer lease the lessee's promises under the lease contract become irrevocable and independent...
California Commercial Code Section 10501
(a) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this division. (b) If the...
California Commercial Code Section 10502
Except as otherwise provided in this division or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to...
California Commercial Code Section 10503
(a) Except as otherwise provided in this division, the lease agreement may include rights and remedies for default in addition to or in substitution...
California Commercial Code Section 10504
(a) Damages payable by either party for default, or any other act or omission, including indemnity for loss or diminution of anticipated tax benefits
California Commercial Code Section 10505
(a) On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior...
California Commercial Code Section 10506
(a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause of...
California Commercial Code Section 10507
(a) Damages based on market rent (Section 10519 or 10528) are determined according to the rent for the use of the goods concerned for a lease term...
California Commercial Code Section 10508
(a) If a lessor fails to deliver the goods in conformity to the lease contract (Section 10509) or repudiates the lease contract (Section 10402), or a
California Commercial Code Section 10509
(a) Subject to the provisions of Section 10510 on default in installment lease contracts, if the goods or the tender or delivery fail in any respect...
California Commercial Code Section 10510
(a) Under an installment lease contract, a lessee may reject any delivery that is nonconforming if the nonconformity substantially impairs the value...
California Commercial Code Section 10511
(a) Subject to any security interest of a lessee (subdivision (e) of Section 10508), if a lessor or a supplier has no agent or place of business at...
California Commercial Code Section 10512
(a) Except as otherwise provided with respect to goods that threaten to decline in value speedily (Section 10511) and subject to any security...
California Commercial Code Section 10513
(a) If any tender or delivery by the lessor or the supplier is rejected because it is nonconforming and the time for performance has not yet expired,
California Commercial Code Section 10514
(a) In rejecting goods, a lessee's failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from...
California Commercial Code Section 10515
(a) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and (1) The lessee signifies or acts with...
California Commercial Code Section 10516
(a) A lessee must pay rent for any goods accepted in accordance with the lease contract, with due allowance for goods rightfully rejected or not...
California Commercial Code Section 10517
(a) A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to the lessee if the lessee has...
California Commercial Code Section 10518
(a) After a default by a lessor under the lease contract of the type described in subdivision (a) of Section 10508, or, if agreed, after other...
California Commercial Code Section 10519
(a) Except as otherwise provided with respect to damages liquidated in the lease agreement (Section 10504) or otherwise determined pursuant to...
California Commercial Code Section 10520
(a) Incidental damages resulting from a lessor's default include expenses reasonably incurred in inspection, receipt, transportation, and care and...
California Commercial Code Section 10521
(a) Specific performance may be decreed if the goods are unique or in other proper circumstances. (b) A decree for specific performance may...
California Commercial Code Section 10522
(a) Subject to subdivision (b) and even though the goods have not been shipped, a lessee who has paid a part or all of the rent and security for...
California Commercial Code Section 10523
(a) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to a part or the...
California Commercial Code Section 10524
(a) After a default by the lessee under the lease contract of the type described in subdivision (a) of, or paragraph (1) of subdivision (c) of,...
California Commercial Code Section 10525
(a) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods. (b) After a default by the lessee under the...
California Commercial Code Section 10526
(a) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to be insolvent and may...
California Commercial Code Section 10527
(a) After a default by a lessee under the lease contract of the type described in subdivision (a) of, or paragraph (1) of subdivision (c) of, Section
California Commercial Code Section 10528
(a) Except as otherwise provided with respect to damages liquidated in the lease agreement (Section 10504) or otherwise determined pursuant to...
California Commercial Code Section 10529
(a) After default by the lessee under the lease contract of the type described in subdivision (a) of, or paragraph (1) of subdivision (c) of,...
California Commercial Code Section 10530
Incidental damages to an aggrieved lessor include any commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the
California Commercial Code Section 10531
(a) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract
California Commercial Code Section 10532
In addition to any other recovery permitted by this division or other law, the lessor may recover from the lessee an amount that will fully...
California Commercial Code Section 10600
This division shall apply to all lease contracts that are first made or that first become effective between the parties on or after January 1, 1990.
California Commercial Code Section 11101
This division may be cited as Uniform Commercial Code--Funds Transfers.
California Commercial Code Section 11102
Except as otherwise provided in Section 11108, this division applies to funds transfers defined in Section 11104.
California Commercial Code Section 11103
(a) In this division: (1) "Payment order" means an instruction of a sender to a receiving bank, transmitted orally, electronically, or in writing,
California Commercial Code Section 11104
In this division: (a) "Funds transfer" means the series of transactions, beginning with the originator's payment order, made for the purpose of...
California Commercial Code Section 11105
(a) In this division: (1) "Authorized account" means a deposit account of a customer in a bank designated by the customer as a source of payment...
California Commercial Code Section 11106
(a) The time of receipt of a payment order or communication canceling or amending a payment order is determined by the rules applicable to receipt of
California Commercial Code Section 11107
Regulations of the Board of Governors of the Federal Reserve System and operating circulars of the Federal Reserve Banks supersede any inconsistent...
California Commercial Code Section 11108
This division does not apply to a funds transfer any part of which is governed by the Electronic Fund Transfer Act of 1978 (Title XX, Public Law...
California Commercial Code Section 11201
"Security procedure" means a procedure established by agreement of a customer and a receiving bank for the purpose of (i) verifying that a payment...
California Commercial Code Section 11202
(a) A payment order received by the receiving bank is the authorized order of the person identified as sender if that person authorized the order or...
California Commercial Code Section 11203
(a) If an accepted payment order is not, under subdivision (a) of Section 11202, an authorized order of a customer identified as sender, but is...
California Commercial Code Section 11204
(a) If a receiving bank accepts a payment order issued in the name of its customer as sender which is (i) not authorized and not effective as the...
California Commercial Code Section 11205
(a) If an accepted payment order was transmitted pursuant to a security procedure for the detection of error and the payment order (i) erroneously...
California Commercial Code Section 11206
(a) If a payment order addressed to a receiving bank is transmitted to a funds-transfer system or other third-party communication system for...
California Commercial Code Section 11207
(a) Subject to subdivision (b), if, in a payment order received by the beneficiary's bank, the name, bank account number, or other identification of...
California Commercial Code Section 11208
(a) This subdivision applies to a payment order identifying an intermediary bank or the beneficiary's bank only by an identifying number. (1) The...
California Commercial Code Section 11209
(a) Subject to subdivision (d), a receiving bank other than the beneficiary's bank accepts a payment order when it executes the order. (b) Subject
California Commercial Code Section 11210
(a) A payment order is rejected by the receiving bank by a notice of rejection transmitted to the sender orally, electronically, or in writing. A...
California Commercial Code Section 11211
(a) A communication of the sender of a payment order canceling or amending the order may be transmitted to the receiving bank orally, electronically,
California Commercial Code Section 11212
If a receiving bank fails to accept a payment order that it is obliged by express agreement to accept, the bank is liable for breach of the agreement
California Commercial Code Section 11301
(a) A payment order is "executed" by the receiving bank when it issues a payment order intended to carry out the payment order received by the bank.
California Commercial Code Section 11302
(a) Except as provided in subdivisions (b) to (d), inclusive, if the receiving bank accepts a payment order pursuant to subdivision (a) of Section...
California Commercial Code Section 11303
(a) A receiving bank that (i) executes the payment order of the sender by issuing a payment order in an amount greater than the amount of the...
California Commercial Code Section 11304
If the sender of a payment order that is erroneously executed as stated in Section 11303 receives notification from the receiving bank that the order
California Commercial Code Section 11305
(a) If a funds transfer is completed but execution of a payment order by the receiving bank in breach of Section 11302 results in delay in payment to
California Commercial Code Section 11401
"Payment date" of a payment order means the day on which the amount of the order is payable to the beneficiary by the beneficiary' s bank. The...
California Commercial Code Section 11402
(a) This section is subject to Sections 11205 and 11207. (b) With respect to a payment order issued to the beneficiary's bank, acceptance of the...
California Commercial Code Section 11403
(a) Payment of the sender's obligation under Section 11402 to pay the receiving bank occurs as follows: (1) If the sender is a bank, payment...
California Commercial Code Section 11404
(a) Subject to subdivision (e) of Section 11211, and subdivisions (d) and (e) of Section 11405, if a beneficiary's bank accepts a payment order, the...
California Commercial Code Section 11405
(a) If the beneficiary's bank credits an account of the beneficiary of a payment order, payment of the bank's obligation under subdivision (a) of...
California Commercial Code Section 11406
(a) Subject to subdivision (e) of Section 11211 and subdivisions (d) and (e) of Section 11405, the originator of a funds transfer pays the...
California Commercial Code Section 11501
(a) Except as otherwise provided in this division, the rights and obligations of a party to a funds transfer may be varied by agreement of the...
California Commercial Code Section 11502
(a) As used in this section, "creditor process" means levy, attachment, garnishment, notice of lien, sequestration, or similar process issued by or...
California Commercial Code Section 11503
For proper cause and in compliance with applicable law, a court may restrain (i) a person from issuing a payment order to initiate a funds transfer,...
California Commercial Code Section 11504
(a) If a receiving bank has received more than one payment order of the sender or one or more payment orders and other items that are payable from...
California Commercial Code Section 11505
If a receiving bank has received payment from its customer with respect to a payment order issued in the name of the customer as sender and accepted...
California Commercial Code Section 11506
(a) If, under this division, a receiving bank is obliged to pay interest with respect to a payment order issued to the bank, the amount payable may...
California Commercial Code Section 11507
(a) The following rules apply unless the affected parties otherwise agree or subdivision (c) applies: (1) The rights and obligations between the...
California Commercial Code Section 13101
This code shall become effective on January 1, 1965. It applies to transactions entered into and events occurring after that date.
California Commercial Code Section 13102
Transactions validly entered into before January 1, 1965, and the rights, duties, and interests flowing from them remain valid thereafter and may be...
California Commercial Code Section 13103
Except as provided in the following section, all acts and parts of acts inconsistent with this act are hereby repealed.
California Commercial Code Section 13105
(1) A financing statement or a continuation thereof, properly filed and effective pursuant to Section 9401 as it existed prior to January 1, 1971,...
California Commercial Code Section 14101
The amendments to this code, as adopted by the Legislature at the 1973-74 Regular Session, shall become effective at 12:01 a.m. on January 1, 1976.
California Commercial Code Section 14102
The provisions of Division 13 shall continue to apply to this code, as amended by the Legislature at the 1973-74 Regular Session, and for this...
California Commercial Code Section 14103
Transactions validly entered into after January 1, 1965, and before January 1, 1976, and which were subject to the provisions of this code and which...
California Commercial Code Section 14104
A security interest for the perfection of which filing or the taking of possession was required under this code and which attached prior to January...
California Commercial Code Section 14105
(1) A financing statement or continuation statement filed prior to January 1, 1976, which shall not have lapsed prior to January 1, 1976, shall...
California Commercial Code Section 14106
(1) If a security interest is perfected or has priority on January 1, 1976, as to all persons or as to certain persons without any filing or...
California Commercial Code Section 14107
Except as otherwise provided in this division, this code as it existed prior to January 1, 1976, shall apply to any questions of priority if the...
California Commercial Code Section 14108
Unless a change in law has clearly been made, the provisions of this code as amended by the Legislature at the 1973-74 Regular Session shall be...
California Commercial Code Section 14109
(1) The amendments to this code relating to fixtures adopted by the Legislature at the 1979-1980 Regular Session shall apply to security interests...
California Commercial Code Section 15101
The repeal and addition of Division 8 (commencing with Section 8101) made at the 1984 portion of the 1983-84 Regular Session shall become effective...
California Commercial Code Section 15102
The provisions of Division 13 (commencing with Section 13101) and Division 14 (commencing with Section 14101) shall continue to apply to this code,...
California Commercial Code Section 15103
The owner of an interest (other than a security interest) in an uncertificated security (paragraph (b) of subdivision (1) of Section 8102) whose...
California Commercial Code Section 15104
A secured party who has a security interest in an uncertificated security (paragraph (b) of subdivision (1) of Section 8102), which security interest
California Commercial Code Section 16101
The repeal and addition of Division 3 (commencing with Section 3101) and the repeal and addition, the amendment, and the addition of provisions of...
California Commercial Code Section 16102
The provisions of Division 13 (commencing with Section 13101), Division 14 (commencing with Section 14101), and Division 15 (commencing with Section...
California Commercial Code Section 16103
Nothing in this division shall have the effect of (a) reviving a cause of action barred by limitation before January 1, 1993, or (b) applying Section
California Commercial Code Section 16104
Unless a change in law, as contrasted with a clarification, has clearly been made, this code, as it existed on January 1, 1993, shall be deemed...
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