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CHAPTER 810 UNIFORM COMMERCIAL CODE
Construction, Application and Subject Matter of the Act.
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(810 ILCS 5/Art.
1 Pt. 1 heading)
PART
1. SHORT TITLE, CONSTRUCTION, APPLICATION
AND
SUBJECT MATTER OF THE ACT
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(810 ILCS 5/1-101) (from Ch. 26,
par. 1-101)
Sec. 1-101. Short title.
This Act shall be known and may be cited as Uniform Commercial
Code.
(Source: Laws 1961, p. 2101.)
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(810 ILCS 5/1-102) (from Ch. 26,
par. 1-102)
Sec. 1-102. Purposes, rules
of construction, variation by agreement.
(1) This Act shall be liberally
construed and applied to promote its underlying purposes and
policies.
(2) Underlying purposes and policies
of this Act are
(a) to
simplify, clarify and modernize the law governing commercial
transactions;
(b) to
permit the continued expansion of commercial practices through
custom, usage and agreement of the parties;
(c) to
make uniform the law among the various jurisdictions.
(3) The effect of provisions of
this Act may be varied by agreement, except as otherwise provided
in this Act and except that the obligations of good faith, diligence,
reasonableness and care prescribed by this Act may not be disclaimed
by agreement but the parties may by agreement determine the standards
by which the performance of such obligations is to be measured
if such standards are not manifestly unreasonable.
(4) The presence in certain provisions
of this Act of the words "unless otherwise agreed" or
words of similar import does not imply that the effect of other
provisions may not be varied by agreement under subsection (3).
(5) In this Act unless the context
otherwise requires
(a) words
in the singular number include the plural, and in the plural
include the singular;
(b) words
of the masculine gender include the feminine and the neuter,
and when the sense so indicates words of the neuter gender may
refer to any gender.
(Source: Laws 1961, p. 2101.)
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(810 ILCS 5/1-103) (from Ch. 26,
par. 1-103)
Sec. 1-103. Supplementary
general principles of law applicable.
Unless displaced by the particular
provisions of this Act, the principles of law and equity, including
the law merchant and the law relative to capacity to contract,
principal and agent, estoppel, fraud,
misrepresentation, duress, coercion, mistake, unjust enrichment,
bankruptcy, or other validating or invalidating cause shall supplement
its provisions.
(Source: P.A. 88-123.)
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(810 ILCS 5/1-104) (from Ch. 26,
par. 1-104)
Sec. 1-104. Construction
against implicit repeal.
This Act being a general act intended
as a unified coverage of its subject matter, no part of it shall
be deemed to be impliedly repealed by subsequent legislation
if such construction can reasonably be avoided.
(Source: Laws 1961, p. 2101.)
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(810 ILCS 5/1-104a) (from Ch. 26,
par. 1-104a)
Sec. 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 that Section 205-410
control. If any provision of this Act conflicts with the Grain
Code, the provisions of the Grain Code control.
(Source: P.A. 91-239, eff.
1-1-00.)
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(810 ILCS 5/1-104b)
(This Section may contain text
from a Public Act with a delayed effective date)
Sec. 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.)
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(810 ILCS 5/1-105) (from Ch. 26,
par. 1-105)
Sec. 1-105. Territorial application
of the Act; parties' power to choose applicable law.
(1) Except as provided in this
Section, when a transaction bears a reasonable relation to this
State and also to another state or nation the parties may agree
that the law either of this State or of the other state or nation
shall govern their rights and duties. Failing an agreement, this
Act applies to transactions bearing an appropriate relation to
this State.
(2) Where one of the following
provisions of this Act specifies the applicable law, that provision
governs and a contrary agreement is effective only to the extent
permitted by the law (including the conflict of laws rules) so
specified:
Rights of creditors against sold
goods. Section 2-402.
Applicability of the Article on
Leases. Sections 2A-105
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Applicability
of the Article on Bank Deposits and
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Collections. Section 4-102.
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Governing law
in the Article on Funds Transfers.
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Letters of Credit.
Section 5-116.
Applicability of the Article on
Investment Securities.
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Law governing
perfection, the effect of perfection or
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nonperfection,
and the priority of security interests and agricultural
liens. Sections 9-301 through 9-307.
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(Source: P.A. 91-893, eff. 7-1-01.)
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(810 ILCS 5/1-106) (from Ch. 26,
par. 1-106)
Sec. 1-106. Remedies to be
liberally administered.
(1) The remedies provided by this
Act shall be liberally administered to the end that the aggrieved
party may be put in as good a position as if the other party
had fully performed but neither consequential or special nor
penal damages may be had except as specifically provided in this
Act or by other rule of law.
(2) Any right or obligation declared
by this Act is enforceable by action unless the provision declaring
it specifies a different and limited effect.
(Source: Laws 1961, 1st SS., p. 7.)
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(810 ILCS 5/1-107) (from Ch. 26,
par. 1-107)
Sec. 1-107. Waiver or renunciation
of claim or right after breach.
Any claim or right arising out
of an alleged breach can be discharged in whole or in part without
consideration by a written waiver or renunciation signed and
delivered by the aggrieved party.
(Source: Laws 1961, p. 2101.)
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(810 ILCS 5/1-108) (from Ch. 26,
par. 1-108)
Sec. 1-108. Severability.
If any provision or clause of this
Act or application thereof to any person or circumstances is
held invalid, such invalidity shall not affect other provisions
or applications of the Act which can be given effect without
the invalid provision or application, and to this end the provisions
of this Act are declared to be severable.
(Source: Laws 1961, p. 2101.)
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(810 ILCS 5/1-109) (from Ch. 26,
par. 1-109)
Sec. 1-109. Section captions.
Section captions are parts of this Act.
(Source: Laws 1961, p. 2101.)
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