Uniform Commercial Code

Louisiana · Commercial Laws · §§ 10-1-101 to 10-9-343 · 238 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.

Sections covered

La. R.S. 10:1-101Short titles
La. R.S. 10:1-102Scope of Chapter
La. R.S. 10:1-103Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law
La. R.S. 10:1-104Construction against implied repeal
La. R.S. 10:1-105Reserved
La. R.S. 10:1-106Reserved.
La. R.S. 10:1-107Reserved.
La. R.S. 10:1-108Relation to Electronic Signatures in Global and National Commerce Act
La. R.S. 10:1-201General definitions
La. R.S. 10:1-202Notice; knowledge
La. R.S. 10:1-203Lease distinguished from security interest
La. R.S. 10:1-204Value
La. R.S. 10:1-205Reasonable time; seasonableness
La. R.S. 10:1-206Presumptions
La. R.S. 10:12-101Title
La. R.S. 10:1-301Territorial applicability; parties' power to choose applicable law
La. R.S. 10:1-302Variation by agreement
La. R.S. 10:1-303Course of performance, course of dealing, and usage of trade
La. R.S. 10:1-304Obligation of good faith
La. R.S. 10:1-305Remedies to be liberally administered
La. R.S. 10:1-306Reserved
La. R.S. 10:1-307Prima facie evidence by third-party documents
La. R.S. 10:1-308Performance or acceptance under reservation of rights
La. R.S. 10:1-309Option to accelerate at will
La. R.S. 10:1-310Subordinated obligations
La. R.S. 10:3-101Short title
La. R.S. 10:3-102Subject matter
La. R.S. 10:3-103Definitions
La. R.S. 10:3-104Negotiable instrument
La. R.S. 10:3-105Issue of instrument
La. R.S. 10:3-106Unconditional promise or order
La. R.S. 10:3-107Instrument payable in foreign money
La. R.S. 10:3-108Payable on demand or at definite time
La. R.S. 10:3-109Payable to bearer or to order
La. R.S. 10:3-110Identification of person to whom instrument is payable
La. R.S. 10:3-111Place of payment
La. R.S. 10:3-112Interest
La. R.S. 10:3-113Date of instrument
La. R.S. 10:3-114Contradictory terms of instrument
La. R.S. 10:3-115Incomplete instrument
La. R.S. 10:3-116Joint and several liability; contribution
La. R.S. 10:3-117Other agreements affecting instrument
La. R.S. 10:3-118Prescription
La. R.S. 10:3-119REPEALED BY ACTS 1993, NO. 948, 7, EFF. JAN. 1, 1994.
La. R.S. 10:3-601DISCHARGE AND PAYMENT
La. R.S. 10:3-602Payment
La. R.S. 10:3-603Tender of payment
La. R.S. 10:3-604Discharge by cancellation or renunciation
La. R.S. 10:4-101Short title
La. R.S. 10:4-102Applicability
La. R.S. 10:4-103Variation by agreement; measure of damages; action constituting ordinary care
La. R.S. 10:4-104Definitions and index of definitions
La. R.S. 10:4-105Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank"
La. R.S. 10:4-106Payable through or payable at bank; collecting bank
La. R.S. 10:4-107Separate office of bank
La. R.S. 10:4-108Time of receipt of items
La. R.S. 10:4-109Delays
La. R.S. 10:4-110Electronic presentment
La. R.S. 10:4-111Prescription
La. R.S. 10:4-501COLLECTION OF DOCUMENTARY DRAFTS
La. R.S. 10:4-502Presentment of "on arrival" drafts
La. R.S. 10:4-503Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need
La. R.S. 10:4-504Privilege of presenting bank to deal with goods; security interest for expenses
La. R.S. 10:4A-101Short Title
La. R.S. 10:4A-102Subject Matter
La. R.S. 10:4A-103Payment Order - Definitions
La. R.S. 10:4A-104Funds Transfer - Definitions
La. R.S. 10:4A-105Other definitions
La. R.S. 10:4A-106Time payment order is received
La. R.S. 10:4A-107Federal reserve regulations and operating circulars
La. R.S. 10:4A-108Relationship to the federal Electronic Fund Transfer Act
La. R.S. 10:4A-201Security procedure
La. R.S. 10:4A-202Authorized and verified payment orders
La. R.S. 10:4A-203Unenforceability of certain verified payment orders
La. R.S. 10:4A-204Refund of payment and duty of customer to report with respect to unauthorized payment order
La. R.S. 10:4A-205Erroneous payment orders
La. R.S. 10:4A-206Transmission of payment order through funds-transfer or other communication
La. R.S. 10:4A-207Misdescription of beneficiary
La. R.S. 10:4A-208Misdescription of intermediary bank or beneficiary's bank
La. R.S. 10:4A-209Acceptance of payment order
La. R.S. 10:4A-210Rejection of payment order
La. R.S. 10:4A-211Cancellation and amendment of payment order
La. R.S. 10:4A-212Liability and duty of receiving bank regarding unaccepted payment order
La. R.S. 10:4A-501MISCELLANEOUS PROVISIONS
La. R.S. 10:4A-502Creditor process served on receiving bank; setoff by beneficiary's bank
La. R.S. 10:4A-503Injunction or restraining order with respect to funds transfer
La. R.S. 10:4A-504Order in which items and payment orders may be charged to account; order of withdrawals from account
La. R.S. 10:4A-505Preclusion of objection to debit of customer's account
La. R.S. 10:4A-506Rate of interest
La. R.S. 10:4A-507Choice of law
La. R.S. 10:5-101Short title
La. R.S. 10:5-102Definitions
La. R.S. 10:5-103Scope
La. R.S. 10:5-104Formal requirements
La. R.S. 10:5-105Consideration
La. R.S. 10:5-106Issuance, amendment, cancellation, and duration
La. R.S. 10:5-107Confirmor, nominated person, and adviser
La. R.S. 10:5-108Issuer's rights and obligations
La. R.S. 10:5-109Fraud and forgery
La. R.S. 10:5-110Warranties
La. R.S. 10:5-111Remedies
La. R.S. 10:5-112Transfer of letter of credit
La. R.S. 10:5-113Transfer by operation of law
La. R.S. 10:5-114Assignment of proceeds
La. R.S. 10:5-115Statute of limitations
La. R.S. 10:5-116Choice of law and forum
La. R.S. 10:5-117Subrogation of issuer, applicant, and nominated person
La. R.S. 10:5-118Security interest of issuer or nominated person
La. R.S. 10:7-101Short title
La. R.S. 10:7-102Definitions and index of definitions
La. R.S. 10:7-103Relation of Chapter to treaty or statute
La. R.S. 10:7-104Negotiable and nonnegotiable document of title
La. R.S. 10:7-105Reissuance in alternative medium
La. R.S. 10:7-106Control of electronic document of title
La. R.S. 10:7-201Person that may issue a warehouse receipt; storage under bond
La. R.S. 10:7-202Form of warehouse receipt; effect of omission
La. R.S. 10:7-203Liability for nonreceipt or misdescription
La. R.S. 10:7-204Duty of care; contractual limitation of warehouse's liability
La. R.S. 10:7-205Title under warehouse receipt defeated in certain cases
La. R.S. 10:7-206Termination of storage at warehouse's option
La. R.S. 10:7-207Goods must be kept separate; fungible goods
La. R.S. 10:7-208Altered warehouse receipts
La. R.S. 10:7-209Lien of warehouse
La. R.S. 10:7-210Enforcement of warehouse's lien
La. R.S. 10:7-301Liability for nonreceipt or misdirection; "said to contain"; "shipper's weight, load, and count"; improper handling
La. R.S. 10:7-302Through bills of lading and similar documents of title
La. R.S. 10:7-303Diversion; reconsignment; change of instructions
La. R.S. 10:7-304Tangible bills of lading in a set
La. R.S. 10:7-305Destination bills
La. R.S. 10:7-306Altered bills of lading
La. R.S. 10:7-307Lien of carrier
La. R.S. 10:7-308Enforcement of carrier's lien
La. R.S. 10:7-309Duty of care; contractual limitation of carrier's liability
La. R.S. 10:7-401Irregularities in issue of receipt or bill or conduct of issuer
La. R.S. 10:7-402Duplicate receipt or bill; overissue
La. R.S. 10:7-403Obligation of bailee to deliver; excuse
La. R.S. 10:7-404No liability for good faith delivery pursuant to document of title
La. R.S. 10:7-501Form of negotiation and requirements of "due negotiation"
La. R.S. 10:7-502Rights acquired by due negotiation
La. R.S. 10:7-503Document of title to goods defeated in certain cases
La. R.S. 10:7-504Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery
La. R.S. 10:7-505Endorser not a guarantor for other parties
La. R.S. 10:7-506Delivery without endorsement; right to compel endorsement
La. R.S. 10:7-507Warranties on negotiation or delivery of document of title
La. R.S. 10:7-508Warranties of collecting bank as to documents of title
La. R.S. 10:7-509Adequate compliance with commercial contract
La. R.S. 10:7-601Lost, stolen, or destroyed documents of title
La. R.S. 10:7-602Judicial process against goods covered by negotiable document of title
La. R.S. 10:7-603Conflicting claims; concursus
La. R.S. 10:7-604Fraud through the use of a document of title
La. R.S. 10:8-101INVESTMENT SECURITIES
La. R.S. 10:8-102Definitions and index of definitions
La. R.S. 10:8-103Rules for determining whether certain obligations and interests are securities or financial assets
La. R.S. 10:8-104Acquisition of security or financial asset or interest therein
La. R.S. 10:8-105Notice of adverse claim
La. R.S. 10:8-106Control
La. R.S. 10:8-107Whether indorsement, instruction, or entitlement order is effective
La. R.S. 10:8-108Warranties in direct holding
La. R.S. 10:8-109Warranties in indirect holding
La. R.S. 10:8-110Applicability; choice of law
La. R.S. 10:8-111Clearing corporation rules
La. R.S. 10:8-112Creditor's legal process
La. R.S. 10:8-113Statute of frauds inapplicable
La. R.S. 10:8-114Evidentiary rules concerning certificated securities
La. R.S. 10:8-115Securities intermediary and others not liable to adverse claimant
La. R.S. 10:8-116Securities intermediary as purchaser for value
La. R.S. 10:9-101SECURED TRANSACTIONS
La. R.S. 10:9-102Definitions and index of definitions
La. R.S. 10:9-103Purchase-money security interest; application of payments; burden of establishing purchase-money security interest
La. R.S. 10:9-104Control of deposit account
La. R.S. 10:9-105Control of electronic copy of record evidencing chattel paper
La. R.S. 10:9-106Control of investment property
La. R.S. 10:9-107Control of letter-of-credit right
La. R.S. 10:9-107.1Control over life insurance policy
La. R.S. 10:9-107.2Control conditioned on default
La. R.S. 10:9-107.3Control of controllable electronic record, controllable account, or controllable payment intangible
La. R.S. 10:9-107.4No requirement to acknowledge or confirm; no duties
La. R.S. 10:9-108Sufficiency of description
La. R.S. 10:9-109Scope
La. R.S. 10:9-201General effectiveness of security agreement
La. R.S. 10:9-202Title to collateral immaterial
La. R.S. 10:9-203Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites
La. R.S. 10:9-204After-acquired property; future advances
La. R.S. 10:9-205Use or disposition of collateral permissible
La. R.S. 10:9-206Security interest arising in purchase or delivery of financial asset
La. R.S. 10:9-207Rights and duties of secured party having possession or control of collateral
La. R.S. 10:9-208Additional duties of secured party having control of collateral
La. R.S. 10:9-209Duties of secured party if account debtor has been notified of assignment
La. R.S. 10:9-210Request for accounting; request regarding list of collateral or statement of account
La. R.S. 10:9-211Repealed by Acts 2006, 1st Ex. Sess., No. 14, §2, eff. Feb. 23, 2006, and Acts 2006, 1st Ex. Sess., No. 21, §2, eff. April 1, 2006.
La. R.S. 10:9-301Law governing perfection and priority of security interests
La. R.S. 10:9-302Law governing perfection and priority of agricultural liens
La. R.S. 10:9-303Law governing perfection and priority of security interests in goods covered by a certificate of title
La. R.S. 10:9-304Law governing perfection and priority of security interests in deposit accounts
La. R.S. 10:9-305Law governing perfection and priority of security interests in investment property
La. R.S. 10:9-306Law governing perfection and priority of security interests in letter-of-credit rights
La. R.S. 10:9-306.1Law governing perfection and priority of security interests in chattel paper
La. R.S. 10:9-306.2Law governing perfection and priority of security interests in controllable accounts, controllable electronic records, and controllable payment intangibles
La. R.S. 10:9-307Location of debtor
La. R.S. 10:9-308When security interest or agricultural lien is perfected; continuity of perfection
La. R.S. 10:9-309Security interest perfected upon attachment
La. R.S. 10:9-310When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply
La. R.S. 10:9-311Perfection of security interests in property subject to certain statutes, regulations, and treaties
La. R.S. 10:9-312Perfection of security interests in chattel paper, controllable accounts, controllable electronic records, controllable payment intangibles, deposit accounts, negotiable documents, goods covered by documents, instruments, investment property, letter-of-credit rights, money, life insurance policies, and collateral mortgage notes; perfection by permissive filing; temporary perfection without filing or transfer of possession
La. R.S. 10:9-313When possession by or delivery to secured party perfects security interest without filing
La. R.S. 10:9-314Perfection by control
La. R.S. 10:9-314.1Perfection by possession and control of chattel paper
La. R.S. 10:9-315Secured party's rights on disposition of collateral and in proceeds
La. R.S. 10:9-316Continued perfection of security interest following change in governing law
La. R.S. 10:9-317Interests that take priority over or take free of security interest or agricultural lien
La. R.S. 10:9-318No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers
La. R.S. 10:9-319Rights and title of consignee with respect to creditors and purchasers
La. R.S. 10:9-320Buyer of goods
La. R.S. 10:9-321Licensee of general intangible and lessee of goods in ordinary course of business
La. R.S. 10:9-322Priorities among conflicting security interests in and agricultural liens on same collateral
La. R.S. 10:9-323Future advances
La. R.S. 10:9-324Priority of purchase-money security interests
La. R.S. 10:9-325Priority of security interests in transferred collateral
La. R.S. 10:9-326Priority of security interests created by new debtor
La. R.S. 10:9-326.1Priority of security interest in controllable account, controllable electronic record, and controllable payment intangible
La. R.S. 10:9-327Priority of security interests in deposit account
La. R.S. 10:9-328Priority of security interests in investment property
La. R.S. 10:9-329Priority of security interests in letter-of-credit right
La. R.S. 10:9-329.1Priority of security interest in a life insurance policy
La. R.S. 10:9-330Priority of purchaser of chattel paper or instrument
La. R.S. 10:9-331Priority of rights of purchasers of controllable accounts, controllable electronic records, controllable payment intangibles, documents, instruments, and securities under other Chapters; priority of interests in financial assets and security entitlements and protection against assertion of claim under Chapters 8 and 12 of this Title
La. R.S. 10:9-332Transfer of money; transfer of funds from deposit account
La. R.S. 10:9-333Priority of certain liens arising by operation of law
La. R.S. 10:9-334Priority of security interests in fixtures and crops
La. R.S. 10:9-335Accessions
La. R.S. 10:9-336Commingled goods
La. R.S. 10:9-337Priority of security interests in goods covered by certificate of title
La. R.S. 10:9-338Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information
La. R.S. 10:9-339Priority subject to subordination
La. R.S. 10:9-340Effectiveness of right of compensation, recoupment, or set-off against deposit account
La. R.S. 10:9-341Bank's rights and duties with respect to deposit account
La. R.S. 10:9-342Bank's right to refuse to enter into or disclose existence of control agreement
La. R.S. 10:9-343Control agreement not automatic subordination

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