UNIFORM COMMERCIAL CODE (UCC) Definition

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UNIFORM COMMERCIAL CODE (UCC) is a collection of modernized, codified, and standardized laws that apply to all commercial transactions with the exception of real property. Developed under the direction of the National Conference of Commissioners on Uniform State Laws, the American Law Institute, and the American Bar Association (ABA), it first became U.S. law in 1972. Since that time, it has undergone a process of constant revision.

Learn new Accounting Terms

BEST ASK is the lowest quoted offer of all competing Market Makers to sell a particular stock at any given time.

BOOK-TO-MARKET is the ratio of the firms book equity to market equity.

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