Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

commercial law

Read a random definition: diebus feriatis

A quick definition of commercial law:

Commercial law is a set of rules that governs how businesses and consumers interact with each other. It covers many different areas, such as banking, contracts, real estate, and sales. The Uniform Commercial Code is a set of laws that most states have adopted to help regulate commercial transactions. It has 13 different sections that cover everything from general provisions to secured transactions. Commercial law helps ensure that businesses and consumers can work together fairly and efficiently.

A more thorough explanation:

Commercial law is a set of rules that governs business, trade, and transactions between consumers and businesses. It covers a wide range of areas, including:

For example, commercial law regulates how banks operate, how businesses can declare bankruptcy, and how consumers can obtain credit. It also covers the legal requirements for contracts, such as what makes a contract valid and enforceable.

The Uniform Commercial Code (UCC) is a set of laws that has been adopted by most states in the US. It covers many areas of commercial law and is divided into 13 articles, including:

  • Article 1: General Provisions
  • Article 2: Sales
  • Article 2A: Leases
  • Article 3: Negotiable Instruments
  • Article 4: Bank Deposits
  • Article 4A: Funds Transfers
  • Article 5: Letters of Credit
  • Article 6: Bulk Sales
  • Article 7: Warehouse Receipts
  • Article 8: Investment Securities
  • Article 9: Secured Transactions
  • Article 10: Effective Date and Repealer
  • Article 11: Effective Date and Transition Provisions

These articles provide specific rules and regulations for different types of commercial transactions. For example, Article 2 covers the sale of goods, while Article 9 covers secured transactions, such as when a lender takes collateral to secure a loan.

commercial frustration | commercial speech

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
ParallelAgreeableOrangutan
23:21
I don't visit y'all's profiles enough, clearly
NarrowFaithfulCougar
0:22
@NemoPropheta: Ahh yeah, the Sauna. That's some good Nordic shit. Beats the hot tub hands down. Plus everyone is naked.
llama
1:23
@ParallelAgreeableOrangutan: got that weaponized autism in gear, we out here.
RasheedWallaceFan
12:52
@llama: your cycle confuses me, your stats are good and you applied early but all of those Rs? Is there anything weird about your app?
RasheedWallaceFan
12:53
do you have C&F issues or something?
RasheedWallaceFan
12:55
also ur first choice is kansas but you didnt apply there?
llama
12:55
@RasheedWallaceFan: Hi. Yes, I waited for April LSAT, put almost all apps (which were sent really early) so that basically most of my apps were reviewed In May. Shot myself in the foot for 155 -> 161 lmao. Would not recommend 10/10
llama
12:57
@RasheedWallaceFan: unironically, KSLS was my top choice, however by April LSAT their app had closed. It was like waiting to date ur dream partner, but waiting until you graduate uni, then by the time u graduate uni, your soul mate is already married with 2.4 kids and 1.6 dogs. Heartbreak.exe fr fr
NemoPropheta
12:58
are you R&Ring?
llama
13:00
No, I think what I will do is flip a coin: heds NKU, tails NEL|B what u guys think bout dat. Then once 1L - if good at LS, try to transfer, if bad at LS or one of my grandiose ideas/inventions are viable, drop out and pursue.
RasheedWallaceFan
13:10
oh so you submitted the apps with a lower lsat and then retook
RasheedWallaceFan
13:10
got it
Bettercaulsaul
13:33
Most schools will hold your application for the next test score to be released into your account as well. I was notified by an admissions director that if a decision is processed they will not retroactively go back for the new score even if higher
ParallelAgreeableOrangutan
13:34
I vote NEL-Boston so we can be friends :D
ParallelAgreeableOrangutan
13:34
But it says you withdrew?? :(
ParallelAgreeableOrangutan
13:41
@Bettercaulsaul: in my experience, there is often an option on the application for you to choose whether you'd like them to review your application as-is ASAP or hold it until your new score is released. but it probably varies by school—I just remember seeing that option on at least a few app forms
llama
2:21
While I am unsure of what option you are referring to, I personally just emailed each school and asked for them to hold my app pending my lsat score release.
llama
2:22
Sorry WNE = Western New England not NEL|B
LawCarrot
14:50
Hey guys is anyone online rn
LawCarrot
14:51
I need adviceee
llama
15:48
shooooot
Mitchthemeanguy
17:45
hey y'all so im gonna be honest im completely new to all this, i kinda bullshitted and took the LSAT and i have no clue what my odds are of getting into schools. 163 LSAT, 3.17 GPA, and a double major in undergrad i may write about in an addendum
InnateMatureRhino
17:50
Based on the list I see you made on your profile, you will need to make significant LSAT improvement for those schools to be contenders. Your primary focus should probably be working to get your LSAT practice tests up to a number you are happy with before you retest, and then test until you get a score you like. Don't rush an application cycle or apply late since those will hurt your odds of getting into your school as a splitter. Good luck!
Mitchthemeanguy
17:51
oh that was literally just random stuff i dont know how this works
Mitchthemeanguy
17:51
thank you so much!
Mitchthemeanguy
17:52
im retaking in 4 days, and maybe again in august, and i was gonna apply to see what i got, and if i didnt like it i was going to wait till next cycle and work on improving my GPA
PremiumFrequentCrane
21:33
@InnateMatureRhino: wow rude
RitzySkillfulLeopard
23:43
yall need help fr
sniper
0:51
chat should i go to uc davis or loyola
TheOrangeGorillla
1:58
https://www.lsd.law/users/creep/UnsuitableExoticTiger Is this real chat?
LSD+ is ad-free, with DMs, discounts, case briefs & more.