Illinois Compiled Statutes 810 Commercial Code: Article 1 - General Provisions

Part 1 General Provisions (Source: P. A. 95-895, Eff. 1-1-09.)

• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-101
  Short Titles. (a) This Act may be cited as the Uniform Commercial Code. (b) This Article may be cited as Uniform Commercial Code - General...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-102
  Scope of Article. This Article applies to a transaction to the extent that it is governed by another Article of the Uniform Commercial Code. (Source:...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-103
  Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law. (a) The Uniform Commercial Code must be liberally...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-104
  Construction against implied repeal. The Uniform Commercial Code being a general Act intended as a unified coverage of its subject matter, no part of it...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-104a
  Legislative Intent. If any provision of this Act conflicts with Section 205-410 of the Department of Agriculture Law (20 ILCS 205/205-410), the provisions of...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-104b
  Agriculture Production Contract Code. This Act is subject to the provisions of the Agriculture Production Contract Code. (Source: P.A. 93-522, eff. 1-1-05.)
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-105
  Severability. If any provision or clause of the Uniform Commercial Code or its application to any person or circumstance is held invalid, the invalidity does...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-106
  Use of singular and plural; gender. In the Uniform Commercial Code, unless the statutory context otherwise requires: (1) words in the singular number include the...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-107
  Section captions. Section captions are part of the Uniform Commercial Code. (Source: P.A. 95-895, eff. 1-1-09.)
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-109
  (Blank). (Source: P.A. 95-895, eff. 1-1-09.)

Part 2 General Definitions and Principles of Interpretation (Source: P. A. 95-895, Eff. 1-1-09.)

• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-201
  General Definitions. (a) Unless the context otherwise requires, words or phrases defined in this Section, or in the additional definitions contained in other Articles of...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-204
  Value. Except as otherwise provided in Articles 3, 4, 5, and 6, a person gives value for rights if the person acquires them: (1) in...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-205
  Reasonable time; seasonableness. (a) Whether a time for taking an action required by the Uniform Commercial Code is reasonable depends on the nature, purpose, and...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-206
  Presumptions. Whenever the Uniform Commercial Code creates a "presumption" with respect to a fact, or provides that a fact is "presumed", the trier of fact...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-207
  (Blank). (Source: P.A. 95-895, eff. 1-1-09.)
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-208
  (Blank). (Source: P.A. 95-895, eff. 1-1-09.)
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-209
  (Blank). (Source: P.A. 95-895, eff. 1-1-09.)

Part 3territorial Applicability and General Rules (Source: P. A. 95-895, Eff. 1-1-09.)

• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-302
  Variation by agreement. (a) Except as otherwise provided in subsection (b) or elsewhere in the Uniform Commercial Code, the effect of provisions of the Uniform...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-304
  Obligation of good faith. Every contract or duty within the Uniform Commercial Code imposes an obligation of good faith in its performance and enforcement. (Source:...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 1-305
  Remedies to be liberally administered. (a) The remedies provided by the Uniform Commercial Code must be liberally administered to the end that the aggrieved party...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...
• Illinois Uniform Commercial Code. - 810 ILCS 5, Section 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...

Last modified: February 18, 2015