Uniform Commercial Code
Florida · Uniform Commercial Code: Investment Securities · §§ 678.1011 to 678.1171 · 17 sections
Overview
The Uniform Commercial Code governs commercial transactions, with the provisions here covering the sale of goods and the treatment of certain electronic records that function as payment or account rights. For sales, it supplies default rules that fill gaps in contracts — price, delivery, timing, and payment terms — alongside requirements for contract formation and modification, a statute of frauds, limits on the use of extrinsic evidence, and rules on when acceptance with added terms creates a binding agreement. It also establishes warranties that attach to a sale, including title, express warranties created by description or sample, and implied warranties of merchantability and fitness for a particular purpose, and it empowers courts to refuse enforcement of unconscionable terms.
Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.
In the courts
Sections of this act have been cited in 3 court decisions.
Most-cited authority: 447 B.R. 647 - In Re Infolink Group, Inc.
Sections covered
- Fla. Stat. § 678.1011Short title
- Fla. Stat. § 678.1021Definitions
- Fla. Stat. § 678.1031Rules for determining whether certain obligations and interests are securities or financial assets
- Fla. Stat. § 678.1041Acquisition of security or financial asset or interest therein
- Fla. Stat. § 678.1051Notice of adverse claim
- Fla. Stat. § 678.1061Control1 cite
- Fla. Stat. § 678.1071Whether indorsement, instruction, or entitlement order is effective
- Fla. Stat. § 678.1081Warranties in direct holding
- Fla. Stat. § 678.1091Warranties in indirect holding
- Fla. Stat. § 678.1101Applicability; choice of law
- Fla. Stat. § 678.1111Clearing corporation rules
- Fla. Stat. § 678.1121Creditor’s legal process2 cites
- Fla. Stat. § 678.1131Statute of frauds inapplicable
- Fla. Stat. § 678.1141Evidentiary rules concerning certificated securities
- Fla. Stat. § 678.1151Securities intermediary and others not liable to adverse claimant
- Fla. Stat. § 678.1161Securities intermediary as purchaser for value
- Fla. Stat. § 678.1171Application of ch. 98-11
Enacted in other states
Alaska, Alabama, Arkansas, Arizona, California, Colorado, District of Columbia, Delaware, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Florida, Georgia, Hawaii, Iowa, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Maryland, Maine, Mississippi, Montana, North Carolina, North Dakota, New Hampshire, New Jersey, New Mexico, Nevada, Nevada, Nevada, New York, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, West Virginia
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