The Uniform Commercial Code (UCC) was the result of a joint project between the American Law Institute (ALI) and the National Conference of Commissioners on Uniform State Law (NCCUSL). Work on the UCC began in 1945 in response to a perceived need by members of both ALI and NCCUSL to consolidate a number of uniform laws, previously enacted by NCCUSL, related to commercial transactions. NCCUSL was established in 1891 for the purpose of codifying state law by creating uniform laws and model acts. ALI was founded in 1923 in response to a perceived uncertainty and complexity in American Law. The Institute had previously developed a codification of particular areas of the law, known as the Restatement of the Law. Thus, cooperation between ALI and NCCUSL on the UCC presented a likely partnership. The first version of the UCC was approved in 1951. Over the next few years, the states responded to, analyzed, and amended the UCC. In 1961, the Permanent Editorial Board was established to review...(see more)
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