A complete Uniform Commercial Code has been formulated by committees acting under joint auspices of the American Law Institute and the National Conference of Commissioners on Uniform State Laws. While the Code is apparently not yet ready for presentation to state legislatures for enactment, it has been offered to the public for discussion of its merits. Its scope is comprehensive. As now tentatively proposed, it comprises presumably complete statutes covering Sales, Commercial Paper, Letters of Credit, Foreign Banking, Documents of Title, Secured Transactions, Investment Securities. If adopted it would displace the present Uniform Sales Act, the Uniform Negotiable Instruments Act, and the various existing statutes in other fields which it covers. Its impact on the whole field of commercial law from beginning to end would be tremendous. What revolutions it would accomplish depends on its content. I have been asked by the editors of the Law Review to give my opinion concerning that part of it which deals particularly with the law of Sales.
John B. Waite,
THE PROPOSED NEW UNIFORM SALES ACT,
Mich. L. Rev.
Available at: https://repository.law.umich.edu/mlr/vol48/iss5/4