The Uniform Commercial Code (UCC) is the codification of laws governing commerce in the United States. It’s not really law its color of law that we have been taught is law. All issues of selling, borrowing, lending, and other issues of trade are covered under ucc. The term UCC 1-308 refers to Article 1, subsection 308 of the Uniform Commercial Code. Subsection 308 addresses the concept of reservation of rights with regard to performance or acceptance of contract terms. Specifically, UCC 1-308 establishes protection of rights in a commercial setting where contract terms cause unknowing conflict with or risk to certain rights. Do you understand? Do you understand?
The purpose of UCC 1-308, was to replace UCC 1-207, and to protect an individual or business entity from unknowingly giving up rights by agreeing to specific contract terms. By signing a document with additional terms such as “without prejudice,” or “under protest and duress,” and referencing UCC 1-308, the signee establishes the retention of any rights he or she unknowingly or under false pretense or adhesion contracts agrees to surrender. Such provisions do not allow an individual or business to avoid legally binding contract terms, but rather to accept contract terms without risk to other rights. Typically, these rights apply to matters of debt and contract performance. Contract is law and law is contract.
Posted By: Tazadaq Shaah
Tuesday, December 20th 2016 at 9:38AM
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