Title 11 — Commercial Code

0 chapters · 563 sections in this title.

25 sectionsFiltered byTitle 11 Ch 1

O.C.G.A. § 11-1-101 Short titles
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(a) This Title 11 shall be known as and may be cited as the “Uniform Commercial Code.” (b) This article shall be known as and may be cited as the “Uniform Commercial Code — General Provisions.”
O.C.G.A. § 11-1-102 Scope of article
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This article shall apply to a transaction to the extent that it is governed by another article of this title. tive January 1, 2016, redesignated former Code Section 11-1-102 as present Code Section 11-1-103. History. Code 1981, § 11-1-102, enacted by Ga. L. 2015, p. 996, § 3A-1/S…
O.C.G.A. § 11-1-103 Implicit repeal
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Construction against, §11-1-104. Reasonable time, §11-1-205. Relation of article to electronic signatures in global and national commerce act, §11-1-108. Remedies to be liberally administered, §11-1-305. Seasonably, §11-1-205. Section captions, §11-1-107. Severability of provisio…
O.C.G.A. § 11-1-104 Construction against implicit repeal
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This title being a general act intended as a uniﬁed coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. History. Code 1933, § 109A-1-104, enacted by Ga. L. 1962, p. 156, §…
O.C.G.A. § 11-1-105 Applicable law
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Supplementary general principles of law, §11-1-103. Captions of sections. Construction, §11-1-107. Citation of title. Short title, §11-1-101. Claims under code. Waiver of renunciation of claim after breach, §11-1-306. Deﬁnitions, §11-1-201. Course of dealing, §11-1-303. Course of…
O.C.G.A. § 11-1-106 Use of singular and plural; gender
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In this title unless the statutory context otherwise requires: (1) Words in the singular number include the plural, and words in the plural include the singular; and (2) Words of any gender also refer to any other gender. History. Code 1933, § 109A-1-106, enacted by Ga. L. 1962, …
O.C.G.A. § 11-1-107 Section captions
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Section captions are parts of this title. History. Code 1933, § 109A-1-107, enacted by Ga. L. 1962, p. 156, § 1; Ga. L. 2015, p. 996, § 3A-1/SB 65.
O.C.G.A. § 11-1-108 Relation to Electronic Signatures in Global and National Commerce Act
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This article modiﬁes, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001, et seq., but shall not modify, limit, or supersede Section 101(c) of that act, 15 U.S.C. Section 7001(c), or authorize electronic delivery o…
O.C.G.A. § 11-1-109 Short titles
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Scope of article. Rules of construction to promote purposes and policies; applicability of supplemental principles of law. Construction against implicit repeal. Severability. Use of singular and plural; gender. Section captions. Relation to Electronic Signatures in Global and Nat…
O.C.G.A. § 11-1-201 General deﬁnitions
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(a) Unless the context otherwise requires, words or phrases deﬁned in this Code section, or in the additional deﬁnitions contained in other articles of this title that apply to particular articles or parts thereof, have the meanings stated. (b) Subject to additional deﬁnitions co…
O.C.G.A. § 11-1-202 Notice; knowledge
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(a) Subject to subsection (f) of this Code section, a person has “notice” of a fact if the person: (1) Has actual knowledge of it; (2) Has received a notice or notiﬁcation of it; or (3) From all the facts and circumstances known to the person at the time in question, has reason t…
O.C.G.A. § 11-1-203 Lease distinguished from security interest
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(a) Whether a transaction in the form of a lease creates a security interest is determined by the facts of each case. (b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay to the lessor for the right to possession and …
O.C.G.A. § 11-1-204 Value
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Except as otherwise provided in Articles 3, 4, 5, and 6 of this title, a person gives value for rights if the person acquires them: (1) In return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether …
O.C.G.A. § 11-1-205 Reasonable time; seasonableness
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(a) Whether a time for taking any action required by this title is reasonable depends on the nature, purpose, and circumstances of such action. 30 11-1-206 (b) An action is taken “seasonably” if it is taken at or within the time agreed, or if no time is agreed, at or within a rea…
O.C.G.A. § 11-1-206 Presumptions
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Whenever this title creates a “presumption” with respect to a fact, or provides that a fact is “presumed,” the trier of fact must ﬁnd the 31 11-1-209 existence of the fact presumed unless and until evidence is introduced that supports a ﬁnding of its nonexistence. History. Code 1…
O.C.G.A. § 11-1-301 Territorial applicability; parties’ power to choose applicable law
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(a) Except as otherwise provided in this Code section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties. (…
O.C.G.A. § 11-1-302 Variation by agreement
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(a) Except as otherwise provided in subsection (b) of this Code 33 11-1-303 section or elsewhere in this title, the effect of provisions of this title may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by this title may n…
O.C.G.A. § 11-1-303 Good faith obligation, §11-1-304
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989 INDEX COMMERCIAL CODE —Cont’d General provisions —Cont’d Territorial applicability and general rules —Cont’d Obligations not subject to disclaimer by agreement, §11-1-302. Remedies to be liberally administered, §11-1-305. Reservation of rights, performance or acceptance under…
O.C.G.A. § 11-1-304 Obligation of good faith
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Every contract or duty within this title imposes an obligation of good faith in its performance and enforcement. History. Code 1981, § 11-1-304, enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65. 11-1-305. Remedies to be liberally administered.
O.C.G.A. § 11-1-305 Funds transfers
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Failure of beneﬁciary’s bank to pay, §11-4A-404. Late or improper execution or failure to execute payment orders, §11-4A-305. Sales under UCC, §11-2-715. Buyer’s damages for breach in regard to accepted goods, §11-2-714. Buyer’s damages for nondelivery or repudiation, §11-2-713. …
O.C.G.A. § 11-1-306 Waiver or renunciation of claim or right after breach
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A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record. History. Code 1981, § 11-1-306, enacted by Ga. L. 2015, p. 996, § 3A-1/SB 65. 11-1-307. Prima-facie eviden…
O.C.G.A. § 11-1-307 Prima-facie evidence by third party documents
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A document in due form purporting to be a bill of lading, policy or certiﬁcate of insurance, official weigher’s or inspector’s certiﬁcate, consular invoice, or any other document authorized or required by the contract to be issued by a third party shall be prima-facie evidence of…
O.C.G.A. § 11-1-308 General deﬁnitions
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Notice; knowledge. Lease distinguished from security interest. 11-1-309. 11-1-310.
O.C.G.A. § 11-1-309 Option to accelerate at will
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A term providing that one party or that party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure” or words of similar import shall be construed to mean that the party shal…
O.C.G.A. § 11-1-310 Acceleration at will
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Options, §11-1-309. Acceptance under reservation of rights, §11-1-308. Applicability of article, §11-1-102. Severability of provisions, §11-1-105. 1073 INDEX UNIFORM COMMERCIAL CODE —Cont’d General provisions —Cont’d Applicable law. Supplementary general principles of law, §11-1-…