Code of Alabama - Title 7: Commercial Code - Article 1 - General Provisions

• Part 1 Short Title, Construction, Application and Subject Matter of the Title.
• Section 7-1-101 Short titles
  (a) This title may be cited as the Uniform Commercial Code. (b) This article may be cited as Uniform Commercial Code - General Provisions.
• Section 7-1-102 Scope of article
  This article applies to a transaction to the extent that it is governed by another article of this title.
• Section 7-1-103 Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law
  (a) This title must be liberally construed and applied to promote its underlying purposes and policies, which are: (1) To simplify, clarify, and modernize the...
• Section 7-1-104 Construction against implied repeal
  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...
• Section 7-1-105 Severability
  If any provision or clause of this title or its application to any person or circumstance is held invalid, the invalidity does not affect other...
• Section 7-1-106 Use of singular and plural; gender
  In this title, unless the statutory context otherwise requires: (1) Words in the singular number include the plural, and those in the plural include the...
• Section 7-1-107 Section captions
  Section captions are part of this title.
• Section 7-1-108 Relation to electronic signatures in global and national commerce act
  This article modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., except that nothing...
• Section 7-1-109 Section captions
  Repealed by Act 2004-524, p. 1070, effective January 1, 2005.
• Part 2 General Definitions and Principles of Interpretation.
• Section 7-1-201 General definitions
  (a) [Reserved]. (b) Subject to additional definitions contained in the subsequent articles of this title which are applicable to specific articles or parts thereof, and...
• Section 7-1-202 Notice; knowledge
  (a) Subject to subsection (f), a person has "notice" of a fact if the person: (1) Has actual knowledge of it; (2) Has received a...
• Section 7-1-203 Lease distinguished from security interest
  (a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b)...
• Section 7-1-204 Value
  Except as otherwise provided in Articles 3, 4, and 5, a person gives value for rights if the person acquires them: (1) In return for...
• Section 7-1-205 Reasonable time; seasonableness
  (a) Whether a time for taking an action required by this title is reasonable depends on the nature, purpose, and circumstances of the action. (b)...
• Section 7-1-206 Presumptions
  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...
• Section 7-1-207 Performance or acceptance under reservation of rights
  Repealed Act 2004-524, p. 1070, §1, effective January 1, 2005.
• Section 7-1-208 Option to accelerate at will
  Repealed Act 2004-524, p. 1070, §1, effective January 1, 2005.
• Part 3 Territorial Applicability; Parties' Power to Choose Applicable Law.
• Section 7-1-301 Territorial applicability; parties' power to choose applicable law
  (a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation...
• Section 7-1-302 Variation by agreement
  (a) Except as otherwise provided in subsection (b) or elsewhere in this title, the effect of provisions of this title may be varied by agreement....
• Section 7-1-303 Course of performance, course of dealing, and usage of trade
  (a) A "course of performance" is a sequence of conduct between the parties to a particular transaction that exists if: (1) The agreement of the...
• Section 7-1-304 Obligation of good faith
  Every contract or duty within this title imposes an obligation of good faith in its performance and enforcement.
• Section 7-1-305 Remedies to be liberally administered
  (a) The remedies provided by this title must be liberally administered to the end that the aggrieved party may be put in as good a...
• Section 7-1-306 Waiver or renunciation of claim or right after breach
  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...
• Section 7-1-307 Prima facie evidence by third-party documents
  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...
• Section 7-1-308 Performance or acceptance under reservation of rights
  (a) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by the...
• Section 7-1-309 Option to accelerate at will
  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"...
• Section 7-1-310 Subordinated obligations
  An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance...

Last modified: May 3, 2021