106-679: The Uniform Commercial Code ( UCC ), first published in 1952, is one of a number of uniform acts that have been established as law with the goal of harmonizing the laws of sales and other commercial transactions across the United States through UCC adoption by all 50 states , the District of Columbia , and the Territories of the United States . While largely successful at achieving this ambitious goal, some U.S. jurisdictions (e.g., Louisiana and Puerto Rico ) have not adopted all of
212-504: A debt . A creditor with a security interest is called a secured party . Fundamental concepts under Article 9 include how a security interest is created (called attachment ); how to give notice of a security interest to the public, which makes the security interest enforceable against others who may claim an interest in the collateral (called perfection ); when multiple claims to the same collateral exist, determining which interests prevail over others (called priority ); and what remedies
318-682: A slave rebellion that started during the French Revolution of Saint-Domingue in 1791. Over the next decade, thousands of refugees landed in Louisiana from the island, including Europeans, Creoles, and Africans, some of the latter brought in by each free group. They greatly increased the French-speaking population in New Orleans and Louisiana, as well as the number of Africans, and the slaves reinforced African culture in
424-618: A Spanish expedition led by Pánfilo de Narváez located the mouth of the Mississippi River. In 1542, Hernando de Soto 's expedition skirted to the north and west of the state (encountering Caddo and Tunica groups) and then followed the Mississippi River down to the Gulf of Mexico in 1543. Spanish interest in Louisiana faded away for a century and a half. In the late 17th century, French and French Canadian expeditions, which included sovereign, religious and commercial aims, established
530-473: A clear dividing line that tells people when they have made a final deal over which they could be sued. Article 2 deals with sales, and Article 2A deals with leases. One of the most confusing and fiercely litigated sections of the UCC is Section 2-207, which Professor Grant Gilmore called "arguably the greatest statutory mess of all time". It governs a "battle of the forms" as to whose boilerplate terms, those of
636-417: A contract. At this point, if the offeree's terms cannot coexist with the offeror's terms, both terms are "knocked out" and UCC gap-fillers step in. If the offeree's terms are simply additional, they will be considered part of the contract unless (a) the offeror expressly limits acceptance to the terms of the original offer, (b) the new terms materially alter the original offer, or (c) notification of objection to
742-551: A foothold on the Mississippi River and Gulf Coast. With its first settlements, France laid claim to a vast region of North America and set out to establish a commercial empire and French nation stretching from the Gulf of Mexico to Canada. In 1682, the French explorer Robert Cavelier de La Salle named the region Louisiana to honor King Louis XIV of France. The first permanent settlement, Fort Maurepas (now Ocean Springs, Mississippi ),
848-558: A growing town. This became a pattern repeated in New Orleans and other places, although the commodity crop in the south was primarily sugar cane. Louisiana's French settlements contributed to further exploration and outposts, concentrated along the banks of the Mississippi and its major tributaries, from Louisiana to as far north as the region called the Illinois Country , around present-day St. Louis, Missouri . The latter
954-626: A legal system to govern secured transactions in Indian country . It was derived from the UCC, primarily Article 9. Certain portions of the UCC have been highly influential outside of the United States. Article 2 had some influence on the drafting of the United Nations Convention on Contracts for the International Sale of Goods (CISG), though the result departed from the UCC in many respects (such as refusing to adopt
1060-505: A rich southern biota , including birds such as ibises and egrets , many species of tree frogs —such as the state-recognized American green tree frog —and fish such as sturgeon and paddlefish . More elevated areas, particularly in the north, contain a wide variety of ecosystems such as tallgrass prairie , longleaf pine forest and wet savannas ; these support an exceptionally large number of plant species, including many species of terrestrial orchids and carnivorous plants . Over half
1166-456: A secured party has if the debtor defaults in payment or performance of the secured obligation. Article 9 does not govern security interests in real property, except fixtures to real property. Security interests in real property include mortgages , deeds of trusts , and installment land contracts . There may be significant legal issues around security interests in Bitcoin . The obligee which
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#17327654837781272-543: A special envoy to Napoleon, to assist in obtaining New Orleans for the United States. Jefferson also raised the authorized expenditure to $ 10 million. However, on April 11, 1803, French foreign minister Talleyrand surprised Livingston by asking how much the United States was prepared to pay for the entirety of Louisiana, not just New Orleans and the surrounding area (as Livingston's instructions covered). Monroe agreed with Livingston that Napoleon might withdraw this offer at any time (leaving them with no ability to obtain
1378-524: A third- or fourth-level subdivision of a code, while divisions or parts are always the first-level subdivision. Also, California does not allow the use of hyphens in section numbers because they are reserved for referring to ranges of sections; therefore, the hyphens used in the official UCC section numbers are dropped in the California implementation. The 1952 Uniform Commercial Code was released after ten years of development, and revisions were made to
1484-530: A war or the loss of a single American life, and set a precedent for the purchase of territory. It opened the way for the eventual expansion of the United States across the continent to the Pacific Ocean. Shortly after the United States took possession, the area was divided into two territories along the 33rd parallel north on March 26, 1804, thereby organizing the Territory of Orleans to the south and
1590-689: Is a state in the Deep South and South Central regions of the United States . It borders Texas to the west, Arkansas to the north, and Mississippi to the east. Of the 50 U.S. states , it ranks 20th in land area and the 25th in population , with roughly 4.6 million residents. Reflecting its French heritage , Louisiana is the only U.S. state with political subdivisions termed parishes , which are equivalent to counties , making it one of only two U.S. states not subdivided into counties (the other being Alaska and its boroughs ). Baton Rouge
1696-642: Is a Latin suffix that can refer to "information relating to a particular individual, subject, or place." Thus, roughly, Louis + ana carries the idea of "related to Louis." Once part of the French colonial empire , the Louisiana Territory stretched from present-day Mobile Bay to just north of the present-day Canada–United States border , including a small part of what are now the Canadian provinces of Alberta and Saskatchewan . The area of Louisiana
1802-426: Is accepted after the counteroffer, even without express acceptance, under 2-207(3), a contract will exist under only those terms on which the parties agree, together with UCC gap-fillers. If the acceptance form does not expressly limit acceptance to its own terms, and both parties are merchants, the offeror's acceptance of the offeree's performance, though the offeree's forms contain additional or different terms, forms
1908-550: Is estimated to have had a population of more than 20,000. The Plaquemine culture is considered ancestral to the historic Natchez and Taensa peoples, whose descendants encountered Europeans in the colonial era. By 1000 in the northwestern part of the state, the Fourche Maline culture had evolved into the Caddoan Mississippian culture. The Caddoan Mississippians occupied a large territory, including what
2014-981: Is now eastern Oklahoma, western Arkansas, northeast Texas , and northwest Louisiana. Archaeological evidence has demonstrated that the cultural continuity is unbroken from prehistory to the present. The Caddo and related Caddo-language speakers in prehistoric times and at first European contact were the direct ancestors of the modern Caddo Nation of Oklahoma of today. Significant Caddoan Mississippian archaeological sites in Louisiana include Belcher Mound Site in Caddo Parish and Gahagan Mounds Site in Red River Parish. Many current place names in Louisiana, including Atchafalaya , Natchitouches (now spelled Natchitoches ), Caddo, Houma , Tangipahoa , and Avoyel (as Avoyelles ), are transliterations of those used in various Native American languages. The first European explorers to visit Louisiana came in 1528 when
2120-563: Is now termed the Uniform Computer Information Transactions Act (UCITA) originated in the process of revising Article 2 of the UCC. The provisions of what is now UCITA were originally meant to be "Article 2B" on Licenses within a revised Article 2 on Sales. As the UCC is the only uniform law that is a joint project of NCCUSL and the ALI, both associations must agree to any revision of the UCC (i.e.,
2226-559: Is strong evidence of a growing cultural and political complexity. Many Coles Creek sites were erected over earlier Woodland period mortuary mounds. Scholars have speculated that emerging elites were symbolically and physically appropriating dead ancestors to emphasize and project their own authority. The Mississippian period in Louisiana was when the Plaquemine and the Caddoan Mississippian cultures developed, and
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#17327654837782332-533: Is the debtor shall return all assets stated in the collateral to secured party after the perfection of default by secured party in response to protest by the Obligee within specified time frame in the civil code and UCC Article 9-3. The Model Tribal Secured Transactions Act (MTSTA) is a model act written by the Uniform Law Commission (ULC) and tailored to provide Native American tribes with
2438-585: Is the place of origin of the Mound Builders culture during the Middle Archaic period , in the 4th millennium BC . The sites of Caney and Frenchman's Bend have been securely dated to 5600–5000 BP (about 3700–3100 BC), demonstrating that seasonal hunter-gatherers from around this time organized to build complex earthwork constructions in what is now northern Louisiana. The Watson Brake site near present-day Monroe has an eleven-mound complex; it
2544-524: Is the state's capital, and New Orleans , a French Louisiana region, is its largest city with a population of about 383,000 people. Louisiana has a coastline with the Gulf of Mexico to the south; a large part of its eastern boundary is demarcated by the Mississippi River . Much of Louisiana's lands were formed from sediment washed down the Mississippi River, leaving enormous deltas and vast areas of coastal marsh and swamp . These contain
2650-410: Is to determine whether the UCC or the common law governs the transaction. If the UCC governs, courts will usually try to find which form constitutes the offer . Next, the offeree's acceptance forms bearing the different terms is examined. One should note whether the acceptance is expressly conditional on its own terms. If it is expressly conditional, it is a counteroffer, not an acceptance. If performance
2756-428: Is used as security for a loan or extension of credit, was enacted in all states. The revision had a uniform effective date of July 1, 2001 although in a few states it went into effect shortly after that date. In 2010, NCCUSL and the ALI proposed modest amendments to Article 9. Several states have already enacted these amendments, which have a uniform effective date of July 1, 2013. The controversy surrounding with what
2862-683: The Du Maine and the Aurore , arrived in New Orleans carrying more than 500 black slaves coming from Africa. Previous slaves in Louisiana had been transported from French colonies in the West Indies. By the end of 1721, New Orleans counted 1,256 inhabitants, of whom about half were slaves. In 1724, the French government issued a law called the Code Noir ("Black Code" in English) which regulated
2968-568: The common law in contracts between merchants. The UCC is the longest and most elaborate of the uniform acts . The Code has been a long-term, joint project of the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute (ALI). NCCUSL and ALI began drafting the first version of the UCC in 1945, following earlier, less comprehensive codification efforts for areas including
3074-487: The mailbox rule ). Article 5, governing letters of credit , has been influential in international trade finance simply because so many major financial institutions operate in New York. Article 9, which established a unified framework for security interests in personal property, directly inspired the enactment of Personal Property Security Acts in every Canadian province and territory except Quebec from 1990 onwards. This
3180-643: The Acadians, who became the ancestors of Louisiana's Cajuns . Spanish Canary Islanders, called Isleños , emigrated from the Canary Islands of Spain to Louisiana under the Spanish crown between 1778 and 1783. In 1800, France's Napoleon Bonaparte reacquired Louisiana from Spain in the Treaty of San Ildefonso , an arrangement kept secret for two years. Jean-Baptiste Le Moyne, Sieur de Bienville brought
3286-508: The Code from 1952 to 2022. The Uniform Commercial Code deals with the following subjects under consecutively numbered Articles: In 2003, amendments to Article 2 modernizing many aspects (as well as changes to Article 2A and Article 7) were proposed by the NCCUSL and the ALI. Because no states adopted the amendments and, due to industry opposition, none were likely to, in 2011 the sponsors withdrew
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3392-548: The Code generally seek to harmonize their interpretations with those of other states that have adopted the same or a similar provision. In one or another of its several revisions, the UCC has been fully enacted with only minimal changes in 49 states, as well as in the District of Columbia , Guam , the Northern Mariana Islands , and the U.S. Virgin Islands . Louisiana and Puerto Rico have enacted most of
3498-659: The Crown's transfer of the Illinois Country 's governance from Canada to Louisiana—may have featured the broadest definition of Louisiana: all land claimed by France south of the Great Lakes between the Rocky Mountains and the Alleghenies . A generation later, trade conflicts between Canada and Louisiana led to a more defined boundary between the French colonies; in 1745, Louisiana governor general Vaudreuil set
3604-680: The Federal Reserve hold an individual register of the transfers of property reflecting beneficial owners. The consequence for an investor is that proving ownership of its securities relies entirely on the accurate replication of the transfer recorded by DTC and FED and others in the intermediated holding system at the lower tiers of the holding chain of the securities. Each one of these links is composed respectively of an account provider (or intermediary) and of an account holder. The rights created through these links are purely contractual claims: these rights are of two kinds: This decomposition of
3710-602: The NCCUSL periodically updates. Recent examples include the Revised Uniform Anatomical Gift Act, Revised Uniform Arbitration Act, Revised Uniform Partnership Act, Revised Uniform Limited Liability Company Act, and the Uniform Prudent Management of Institutional Funds Act . A state may adopt a uniform act as written by NCCUSL, or a state may adopt a modified version. Unless such changes are minor, they can seriously obstruct
3816-618: The Seven Years' War (generally referred to in North America as the French and Indian War ). This included the lands along the Gulf Coast and north of Lake Pontchartrain to the Mississippi River, which became known as British West Florida. The rest of Louisiana west of the Mississippi, as well as the "isle of New Orleans", had become a colony of Spain by the Treaty of Fontainebleau (1762) . The transfer of power on either side of
3922-609: The Spanish "cimarron", meaning which means "fierce" or "unruly." In the late 18th century, the last Spanish governor of the Louisiana territory wrote: Truly, it is impossible for lower Louisiana to get along without slaves and with the use of slaves, the colony had been making great strides toward prosperity and wealth. When the United States purchased Louisiana in 1803, it was soon accepted that slaves could be brought to Louisiana as easily as they were brought to neighboring Mississippi , though it violated U.S. law to do so. Despite demands by United States Rep. James Hillhouse and by
4028-545: The UCC treats the majority of the transfers of dematerialized securities as mere reflections of their respective initial issue held primarily by two American central securities depositories , respectively The Depository Trust Company (DTC) for securities issued by corporations and the Federal Reserve for securities issued by the Treasury Department . In this centralised system, the title transfer of
4134-513: The Uniform Commercial Code is to allow people to make the contracts they want, but to fill in any missing provisions where the agreements they make are silent. The law also seeks to impose uniformity and streamlining of routine transactions like the processing of checks, notes, and other routine commercial paper. The law frequently distinguishes between merchants , who customarily deal in a commodity and are presumed to know well
4240-546: The United States acquired the territory in the Louisiana Purchase of 1803, France and Spain jockeyed for control of New Orleans and the lands west of the Mississippi. In the 1720s, German immigrants settled along the Mississippi River, in a region referred to as the German Coast . France ceded most of its territory east of the Mississippi to Great Britain in 1763, in the aftermath of Britain's victory in
4346-403: The United States, was disturbed by Napoleon's plans to re-establish French colonies in North America. With the possession of New Orleans, Napoleon could close the Mississippi to U.S. commerce at any time. Jefferson authorized Robert R. Livingston , U.S. minister to France, to negotiate for the purchase of the city of New Orleans, portions of the east bank of the Mississippi, and free navigation of
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4452-577: The United States. The payment was made in United States bonds , which Napoleon sold at face value to the Dutch firm of Hope and Company , and the British banking house of Baring , at a discount of 87 + 1 ⁄ 2 per each $ 100 unit. As a result, France received only $ 8,831,250 in cash for Louisiana. English banker Alexander Baring conferred with Marbois in Paris, shuttled to the United States to pick up
4558-478: The United States. The closure of this vital port to the United States caused anger and consternation. Commerce in the west was virtually blockaded. Historians believe the revocation of the right of deposit was prompted by abuses by the Americans, particularly smuggling, and not by French intrigues as was believed at the time. President Jefferson ignored public pressure for war with France, and appointed James Monroe
4664-715: The Upper South or transported to New Orleans and other coastal markets by ship in the coastwise slave trade . After sales in New Orleans, steamboats operating on the Mississippi transported slaves upstream to markets or plantation destinations at Natchez and Memphis. Unusually for a slave-state, Louisiana harbored escaped Filipino slaves from the Manila Galleons . The members of the Filipino community were then commonly referred to as Manila men, or Manilamen, and later Tagalas , as they were free when they created
4770-468: The Upper South to the Deep South, two thirds of them in the slave trade. Others were transported by their owners as slaveholders moved west for new lands. With changing agriculture in the Upper South as planters shifted from tobacco to less labor-intensive mixed agriculture, planters had excess laborers. Many sold slaves to traders to take to the Deep South. Slaves were driven by traders overland from
4876-572: The West Indies, Germany, and Ireland. It experienced an agricultural boom, particularly in cotton and sugarcane, which were cultivated primarily by slaves from Africa. As a slave state, Louisiana was one of the original seven members of the Confederate States of America during the American Civil War . Louisiana's unique French heritage is reflected in its toponyms, dialects, customs, demographics, and legal system. Relative to
4982-401: The account provider to "re-use" the security without having to ask for the authorization of the investor. This is especially possible within the framework of temporary operations such as security lending , option to repurchase , buy to sell back or repurchase agreement . This system the distinction between the downward holding chain which traces the way in which the security was subscribed by
5088-497: The amendments. As a result, the official text of the UCC now corresponds to the law that most states have enacted. In 1989, the National Conference of Commissioners on Uniform State Laws recommended that Article 6 of the UCC, dealing with bulk sales, be repealed as obsolete. Approximately 45 states have done so. Two others have followed the alternative recommendation of revising Article 6. A major revision of Article 9, dealing primarily with transactions in which personal property
5194-438: The articles contained in the UCC, while other U.S. jurisdictions (e.g., American Samoa ) have not adopted any articles in the UCC. Also, adoption of the UCC often varies from one U.S. jurisdiction to another. Sometimes this variation is due to alternative language found in the official UCC itself. At other times, adoption of revisions to the official UCC contributes to further variation. Additionally, some jurisdictions deviate from
5300-593: The biggest slave market in the United States, which contributed greatly to the economy of the city and of the state. New Orleans had become one of the wealthiest cities, and the third largest city, in the nation. The ban on the African slave trade and importation of slaves had increased demand in the domestic market. During the decades after the American Revolutionary War, more than one million enslaved African Americans underwent forced migration from
5406-406: The bonds, took them to Britain, and returned to France with the money—which Napoleon used to wage war against Baring's own country. When news of the purchase reached the United States, Jefferson was surprised. He had authorized the expenditure of $ 10 million for a port city, and instead received treaties committing the government to spend $ 15 million on a land package which would double
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#17327654837785512-491: The business they are in, and consumers , who are not. The UCC also seeks to discourage the use of legal formalities in making business contracts, in order to allow business to move forward without the intervention of lawyers or the preparation of elaborate documents. This last point is perhaps the most questionable part of its underlying philosophy; many in the legal profession have argued that legal formalities discourage litigation by requiring some kind of ritual that provides
5618-637: The city. Anglo-American officials initially made attempts to keep out the additional Creoles of color , but the Louisiana Creoles wanted to increase the Creole population: more than half of the refugees eventually settled in Louisiana, and the majority remained in New Orleans . Pierre Clément de Laussat ( Governor , 1803) said: "Saint-Domingue was, of all our colonies in the Antilles,
5724-1015: The culture, the Atchafalaya Basin Mounds in St. Mary Parish, the Fitzhugh Mounds in Madison Parish, the Scott Place Mounds in Union Parish, and the Sims site in St. Charles Parish. Plaquemine culture was contemporaneous with the Middle Mississippian culture that is represented by its largest settlement, the Cahokia site in Illinois east of St. Louis, Missouri . At its peak Cahokia
5830-436: The desired New Orleans area), and that approval from President Jefferson might take months, so Livingston and Monroe decided to open negotiations immediately. By April 30, they closed a deal for the purchase of the entire Louisiana territory of 828,000 square miles (2,100,000 km ) for sixty million Francs (approximately $ 15 million). Part of this sum, $ 3.5 million, was used to forgive debts owed by France to
5936-493: The enactment of identical or similar laws by the separate states. Such laws are distinct from interstate compacts . The NCCUSL is a body of private and government lawyers , state and federal judges, and law professors who are typically appointed by state governors . It drafts laws on a variety of subjects and proposes them for enactment by each state, the District of Columbia, the U.S. Virgin Islands, and Puerto Rico. NCCUSL
6042-784: The first platform mounds at ritual centers were constructed for the developing hereditary political and religious leadership. By 400 the Late Woodland period had begun with the Baytown culture , Troyville culture , and Coastal Troyville during the Baytown period and were succeeded by the Coles Creek cultures . Where the Baytown peoples built dispersed settlements, the Troyville people instead continued building major earthwork centers. Population increased dramatically and there
6148-399: The first people in the area of Louisiana to make large amounts of pottery. These cultures lasted until 200 AD. The Middle Woodland period started in Louisiana with the Marksville culture in the southern and eastern part of the state, reaching across the Mississippi River to the east around Natchez, and the Fourche Maline culture in the northwestern part of the state. The Marksville culture
6254-480: The first two African slaves to Louisiana in 1708, transporting them from a French colony in the West Indies. In 1709, French financier Antoine Crozat obtained a monopoly of commerce in La Louisiane , which extended from the Gulf of Mexico to what is now Illinois . According to historian Hugh Thomas , "that concession allowed him to bring in a cargo of blacks from Africa every year". Starting in 1719, traders began to import slaves in higher numbers; two French ships,
6360-550: The former Territory of Hawaii but was excluded from the state, and the territorial statutes remain in force there unless superseded by subsequent federal laws or cases. Model act , also called a model law or a piece of model legislation, is a suggested example for a law, drafted centrally to be disseminated and suggested for enactment in multiple independent legislatures. Louisiana Louisiana (French: Louisiane [lwizjan] ; Spanish: Luisiana [lwiˈsjana] ; Louisiana Creole : Lwizyàn )
6466-419: The goal of substantial uniformity in commercial laws and, at the same time, allowed the states the flexibility to meet local circumstances by modifying the UCC's text as enacted in each state. The UCC deals primarily with transactions involving personal property (movable property) and not real property (immovable property). Other goals of the UCC were to modernize contract law and to allow for exceptions from
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#17327654837786572-474: The influence of New England Federalists in national affairs. President Jefferson was an enthusiastic supporter of westward expansion, and held firm in his support for the treaty. Despite Federalist objections, the U.S. Senate ratified the Louisiana treaty on October 20, 1803. By statute enacted on October 31, 1803, President Thomas Jefferson was authorized to take possession of the territories ceded by France and provide for initial governance. A transfer ceremony
6678-425: The interaction of whites (blancs) and blacks (noirs) in its colony of Louisiana (which was much larger than the current state of Louisiana). After the Sale of Louisiana , French Law survived in the Louisiana, such as the prohibition and outlaw of any cruel punishment. Fugitive slaves, called maroons , could easily hide in the backcountry of the bayous and survive in small settlements. The word "maroon" comes from
6784-554: The investor and the horizontal and ascending chains which trace the way in which the security has been transferred or sub-deposited. Contrary to claims suggesting that Article 8 denies American investors their security rights held through intermediaries such as banks, Article 8 has also helped US negotiators during the negotiations of the Geneva Securities Convention , also known as the Unidroit Convention on Substantive Rules for Intermediated Securities . Article 9 governs security interests in personal property as collateral to secure
6890-460: The islands of Martinique and Guadeloupe to the French. Napoleon looked upon Louisiana as a depot for these sugar islands, and as a buffer to U.S. settlement. In October 1801 he sent a large military force to take back Saint-Domingue, then under control of Toussaint Louverture after the Haitian Revolution . When the army led by Napoleon's brother-in-law Leclerc was defeated, Napoleon decided to sell Louisiana. Thomas Jefferson , third president of
6996-402: The legislative authority of the federal government in favor of the states . Specifically, the Tenth Amendment of the United States Constitution states that "powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people". Therefore, state governments are free to enact unique laws in any area beyond
7102-416: The major subdivisions of the UCC as "chapters" instead of articles, since the term "articles" is used in that state to refer to provisions of the Louisiana Civil Code . Arkansas has a similar arrangement as the term "article" in that state's law generally refers to a subdivision of the Arkansas Constitution . In California, they are titled "divisions" instead of articles, because, in California, articles are
7208-414: The model act; revisions to the law of a particular state only require enactment in that state). The proposed final draft of Article 2B met with controversy within the ALI, and as a consequence the ALI did not grant its assent. The NCCUSL responded by renaming Article 2B and promulgating it as the UCITA. As of October 12, 2004, only Maryland and Virginia have adopted UCITA. The overriding philosophy of
7314-430: The modern state of Louisiana. The French settlement had two purposes: to establish trade with the Spanish in Texas via the Old San Antonio Road, and to deter Spanish advances into Louisiana. The settlement soon became a flourishing river port and crossroads, giving rise to vast cotton kingdoms along the river that were worked by imported African slaves. Over time, planters developed large plantations and built fine homes in
7420-468: The new terms has already been given or is given within a reasonable time after they are promulgated by the offeree. Because of the massive confusion engendered by Section 2-207, a revised version was promulgated in 2003, but the revision has never been enacted by any state. The ownership of securities is governed by Article 8 of the Uniform Commercial Code (UCC). This Article 8, a text of about 30 pages, underwent important recasting in 1994. That update of
7526-410: The northern and eastern bounds of his domain as the Wabash valley up to the mouth of the Vermilion River (near present-day Danville, Illinois ); from there, northwest to le Rocher on the Illinois River , and from there west to the mouth of the Rock River (at present day Rock Island, Illinois ). Thus, Vincennes and Peoria were the limit of Louisiana's reach; the outposts at Ouiatenon (on
7632-400: The offeror or the offeree, will survive a commercial transaction where multiple forms with varying terms are exchanged. This problem frequently arises when parties to a commercial transaction exchange routine documents like requests for proposals , invoices , purchase orders , and order confirmations, all of which may contain conflicting boilerplate provisions. The first step in the analysis
7738-575: The official UCC by tailoring the language to meet their unique needs and preferences. Lastly, even identical language adopted by any two U.S. jurisdictions may nonetheless be subject to different statutory interpretations by each jurisdiction's courts. The goal of harmonizing state law is important because of the prevalence of commercial transactions that extend beyond one state. For example, goods may be manufactured in State A, warehoused in State B, sold from State C, and delivered in State D. The UCC achieved
7844-637: The oldest settlement of Asians in the United States in the village of Saint Malo, Louisiana , the inhabitants of which, even joined the United States in the War of 1812 against the British Empire while they were being led by the French-American Jean Lafitte . Spanish occupation of Louisiana lasted from 1769 to 1800. Beginning in the 1790s, waves of immigration took place from Saint-Domingue as refugees poured over following
7950-513: The one whose mentality and customs influenced Louisiana the most." When the United States won its independence from Great Britain in 1783, one of its major concerns was having a European power on its western boundary, and the need for unrestricted access to the Mississippi River. As American settlers pushed west, they found that the Appalachian Mountains provided a barrier to shipping goods eastward. The easiest way to ship produce
8056-559: The pamphleteer Thomas Paine to enforce existing federal law against slavery in the newly acquired territory, slavery prevailed because it was the source of great profits and the lowest-cost labor. At the start of the 19th century, Louisiana was a small producer of sugar with a relatively small number of slaves, compared to Saint-Domingue and the West Indies. It soon thereafter became a major sugar producer as new settlers arrived to develop plantations. William C. C. Claiborne , Louisiana's first United States governor, said African slave labor
8162-590: The peoples adopted extensive maize agriculture, cultivating different strains of the plant by saving seeds, selecting for certain characteristics, etc. The Plaquemine culture in the lower Mississippi River Valley in western Mississippi and eastern Louisiana began in 1200 and continued to about 1600. Examples in Louisiana include the Medora site , the archaeological type site for the culture in West Baton Rouge Parish whose characteristics helped define
8268-585: The pressure for Anglicization , and in 1921, English was shortly made the sole language of instruction in Louisiana schools before a policy of multilingualism was revived in 1974. Louisiana has never had an official language, and the state constitution enumerates "the right of the people to preserve, foster, and promote their respective historic, linguistic, and cultural origins." Based on national averages, Louisiana frequently ranks low among U.S. states in terms of health, education, and development, with high rates of poverty and homicide . In 2018, Louisiana
8374-458: The product of private organizations, is not itself the law, but only a recommendation of the laws that should be adopted in the states. Once enacted by a state, the UCC is codified into the state's code of statutes. A state may adopt the UCC verbatim as written by ALI and NCCUSL, or a state may adopt the UCC with specific changes. Unless such changes are minor, they can seriously obstruct the Code's express objective of promoting uniformity of law among
8480-596: The provisions of the UCC with only minimal changes, except Articles 2 and 2A, preferring instead to maintain their own civil law tradition for governing the sale and lease of goods. Also, some Native American tribes have adopted portions of the UCC, including the Navajo Nation , which has adopted Articles 1, 2, 3, and 9 with only minimal changes. Although the substantive content is largely similar, some states have made structural modifications to conform to local customs. For example, Louisiana jurisprudence refers to
8586-564: The purpose of uniform acts—legal harmonization. Therefore, persons doing business in different states must always still check local law to ensure that (1) a uniform act was enacted in the state that governs a particular legal issue, and (2) the local act actually conforms to the text promulgated by NCCUSL. For example, in Payne v. Stalley (1995), a lawyer relied on the official text of the Uniform Probate Code and failed to check
8692-478: The purview of federal preemption . Under the doctrine of Erie Railroad Co. v. Tompkins (1938), federal courts cannot dictate law to states on pure issues of state common law (i.e., almost all of contract, tort, and family law). However, a variety of legal issues regularly transcend state lines, which makes a predictable and relatively uniform set of laws across states a desirable objective. "Uniform acts" are collaboratively written model laws intended to facilitate
8798-453: The relevant Florida statute. As a result, the lawyer missed a filing deadline on a multimillion-dollar claim. The court wrote, "[w]e cannot rewrite Florida probate law to accommodate a Michigan attorney more familiar with the Uniform Probate Code ". Uniform acts enacted in Hawaii after statehood in 1959 do not apply in the federal Territory of Palmyra Island . Palmyra Island was in
8904-447: The rest of the southern U.S., Louisiana is multilingual and multicultural, reflecting an admixture of Louisiana French ( Cajun , Creole ), Spanish , French Canadian , Acadian , Saint-Domingue Creole , Native American , and West African cultures (generally the descendants of slaves stolen in the 18th century); more recent migrants include Filipinos and Vietnamese. In the post–Civil War environment , Anglo-Americans increased
9010-413: The rights organized by Article 8 of the UCC results in preventing the investor to revindicate the security in case of bankruptcy of the account provider, that is to say the possibility to claim the security as its own asset, without being obliged to share it at its prorate value with the other creditors of the account provider. As a consequence, it also prevents the investor from asserting its securities at
9116-429: The river for U.S. commerce. Livingston was authorized to pay up to $ 2 million. An official transfer of Louisiana to French ownership had not yet taken place, and Napoleon's deal with the Spanish was a poorly kept secret on the frontier. On October 18, 1802, however, Juan Ventura Morales, acting intendant of Louisiana, made public the intention of Spain to revoke the right of deposit at New Orleans for all cargo from
9222-555: The river would be delayed until later in the decade. In 1765, during Spanish rule, several thousand Acadians from the French colony of Acadia (now Nova Scotia , New Brunswick, and Prince Edward Island ) made their way to Louisiana after having been expelled from Acadia by the British government after the French and Indian War. They settled chiefly in the southwestern Louisiana region now called Acadiana . The governor Luis de Unzaga y Amézaga , eager to gain more settlers, welcomed
9328-448: The sale of goods across state lines. Judge Herbert F. Goodrich was the chairman of the editorial board of the original 1952 edition, and the Code itself was drafted by legal scholars including Karl N. Llewellyn (the prime leader in the project), William A. Schnader , Soia Mentschikoff , and Grant Gilmore . The UCC contained principles and concepts borrowed from German law, although they were unacknowledged by Llewellyn. The Code, as
9434-520: The securities does not take place at the time of the registration with the issuer's registrar for the account of the investor, but within the systems managed by DTC or by the Federal Reserve . This centralization is not accompanied by a centralized register of the investors/owners of the securities, such as the systems established in Sweden and in Finland (so-called "transparent systems"). Neither DTC nor
9540-557: The size of the country. Jefferson's political opponents in the Federalist Party argued the Louisiana purchase was a worthless desert, and that the U.S. constitution did not provide for the acquisition of new land or negotiating treaties without the consent of the federal legislature. What really worried the opposition was the new states which would inevitably be carved from the Louisiana territory, strengthening western and southern interests in U.S. Congress , and further reducing
9646-478: The state is forested. Louisiana is situated at the confluence of the Mississippi river system and the Gulf of Mexico. Its location and biodiversity attracted various indigenous groups thousands of years before Europeans arrived in the 17th century. Louisiana has eighteen Native American tribes—the most of any southern state—of which four are federally recognized and ten are state-recognized. The French claimed
9752-561: The state. The city of modern–day Epps developed near it. The Poverty Point culture may have reached its peak around 1500 BC, making it the first complex culture, and possibly the first tribal culture in North America. It lasted until approximately 700 BC. The Poverty Point culture was followed by the Tchefuncte and Lake Cormorant cultures of the Tchula period , local manifestations of Early Woodland period . The Tchefuncte culture were
9858-481: The territory in 1682, and it became the political, commercial, and population center of the larger colony of New France . From 1762 to 1801 Louisiana was under Spanish rule, briefly returning to French rule before being sold by Napoleon to the U.S. in 1803. It was admitted to the Union in 1812 as the 18th state. Following statehood, Louisiana saw an influx of settlers from the eastern U.S. as well as immigrants from
9964-456: The upper Wabash near present-day Lafayette, Indiana ), Chicago, Fort Miamis (near present-day Fort Wayne, Indiana ), and Prairie du Chien, Wisconsin , operated as dependencies of Canada. The settlement of Natchitoches (along the Red River in present-day northwest Louisiana) was established in 1714 by Louis Juchereau de St. Denis , making it the oldest permanent European settlement in
10070-423: The upper level of the holding chain, either up to DTC or up to a sub-custodian. Such a "security entitlement," unlike a normal ownership right, is no longer enforceable " erga omnes " to any person supposed to have the security in its custody. The "security entitlement" is a mere relative right, therefore a contractual right. This re-characterization of the proprietary right into a simple contractual right may enable
10176-449: The various states. Thus, persons doing business in various states must check local laws. The ALI and NCCUSL have established a permanent editorial board for the Code. This board has issued a number of official comments and other published papers. Although these commentaries do not have the force of law, courts interpreting the Code often cite them as persuasive authority in determining the effect of one or more provisions. Courts interpreting
10282-484: Was built about 5400 BP (3500 BC). These discoveries overturned previous assumptions in archaeology that such complex mounds were built only by cultures of more settled peoples who were dependent on maize cultivation. The Hedgepeth Site in Lincoln Parish is more recent, dated to 5200–4500 BP (3300–2600 BC). Nearly 2,000 years later, Poverty Point was built; it is the largest and best-known Late Archaic site in
10388-980: Was established in 1892. The NCCUSL, while influential, does not have any direct legislative power itself; uniform acts become laws only to the extent they are enacted into law by state legislatures . Among the most influential uniform acts are the Uniform Commercial Code , Uniform Probate Code , Uniform Trust Code , Uniform Partnership Act , Uniform Limited Liability Company Act , Uniform Transfers to Minors Act , Uniform Certification of Questions of Law Act , Uniform Enforcement of Foreign Judgments Act , Uniform Controlled Substances Act , Uniform Arbitration Act , Uniform Environmental Covenants Act , Uniform Conservation Easements Act , Uniform Management of Institutional Funds Act , Uniform Interstate Family Support Act , Uniform Child Custody Jurisdiction and Enforcement Act , and Uniform Anatomical Gift Act . In total, there are more than 100 uniform acts, which
10494-600: Was followed by New Zealand 's Personal Property Securities Act 1999 and the Australian Personal Property Securities Act of 2009. Uniform act In the United States , a uniform act is a proposed state law drafted and approved by the Uniform Law Commission (ULC), also known as the National Conference of Commissioners on Uniform State Laws (NCCUSL). Federalism in the United States traditionally limits
10600-403: Was founded in 1699 by Pierre Le Moyne d'Iberville , a French military officer from New France . By then the French had also built a small fort at the mouth of the Mississippi at a settlement they named La Balise (or La Balize) , " seamark " in French. By 1721, they built a 62-foot (19 m) wooden lighthouse-type structure here to guide ships on the river. A royal ordinance of 1722—following
10706-422: Was held in New Orleans on November 29, 1803. Since the Louisiana territory had never officially been turned over to the French, the Spanish took down their flag, and the French raised theirs. The following day, General James Wilkinson accepted possession of New Orleans for the United States. The Louisiana Territory, purchased for less than three cents an acre, doubled the size of the United States overnight, without
10812-690: Was named after the Marksville Prehistoric Indian Site in Avoyelles Parish . These cultures were contemporaneous with the Hopewell cultures of present-day Ohio and Illinois , and participated in the Hopewell Exchange Network. Trade with peoples to the southwest brought the bow and arrow . The first burial mounds were built at this time. Political power began to be consolidated, as
10918-565: Was needed because white laborers "cannot be had in this unhealthy climate." Hugh Thomas wrote that Claiborne was unable to enforce the abolition of the Atlantic slave trade, which the U.S. and Great Britain enacted in 1807. The United States continued to protect the domestic slave trade, including the coastwise trade—the transport of slaves by ship along the Atlantic Coast and to New Orleans and other Gulf ports. By 1840, New Orleans had
11024-437: Was ranked as the least healthy state in the country, with high levels of drug-related deaths . It also has had the highest homicide rate in the United States since at least the 1990s. Louisiana was named after Louis XIV , King of France from 1643 to 1715. When René-Robert Cavelier, Sieur de La Salle claimed the territory drained by the Mississippi River for France, he named it La Louisiane . The suffix –ana (or –ane)
11130-463: Was settled by French colonists from Illinois. Initially, Mobile and then Biloxi served as the capital of La Louisiane. Recognizing the importance of the Mississippi River to trade and military interests, and wanting to protect the capital from severe coastal storms, France developed New Orleans from 1722 as the seat of civilian and military authority south of the Great Lakes. From then until
11236-558: Was to use a flatboat to float it down the Ohio and Mississippi rivers to the port of New Orleans, where goods could be put on ocean-going vessels. The problem with this route was that the Spanish owned both sides of the Mississippi below Natchez . Napoleon's ambitions in Louisiana involved the creation of a new empire centered on the Caribbean sugar trade . By the terms of the Treaty of Amiens of 1802, Great Britain returned control of
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