Attorney M. Keith Lipscomb of Lipscomb, Eisenberg & Baker, PL has been a member of the firm since 2008. Applying his knowledge of commercial law, Keith Lipscomb provides legal guidance for businesses facing Uniform Commercial Code disputes.
Established by the National Conference of Commissioners on Uniform State Laws and the American Law Institute, the Uniform Commercial Code (UCC) governs proper practice of commercial transactions between states and territories. Sales transactions encompass sale of goods, leases, contracts, and borrowed funds. While the law is not federally regulated, all 50 states have adopted the UCC as a guideline for its ongoing transactions. However, should a dispute occur, only states with active UCC rules are protected under law.
Regarded highly in American law, the model code can be modified by a state with the National Conference of Commissioners’ approval. The commissioners are comprised of attorneys, judges, law professors, and legislators who serve throughout the United States. Reviewing a state’s altered UCC, the commissioners may require revisions before consenting to its use.