Known as the Uniform Commercial Code
The act spans §§ 36-10-101 to 36-9-809 (519 sections).
Applied in 2 court decisions — leading case Love v. Gamble (1994)
Most recently applied in Figgie International Incorporated v. Destileria Serralles Incorporated (August 1999)
1962 Code SECTION 10.1-204; 1966 (54) 2716; former 1976 Code SECTION 36-1-204; 2014 Act No. 213 (S.343), SECTION 1, eff October 1, 2014.
(a) Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose, and circumstances of the action.
(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 reasonable time.