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The American Commercial Religion

Hamoudi, Haider Ala (2012) The American Commercial Religion. DePaul Business and Commercial Law Journal, 10 (2). 301 - 364. ISSN 1542-2763

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Abstract

To all but possibly the most senior of commercial law specialists, it is difficult to imagine American commercial life without the nationwide adoption of the Uniform Commercial Code. We would surely regard as impossible the idea that the vast economic success of the latter half of the twentieth century could have been achieved without it. The Uniform Commercial Code is our godhead, our sacred foundational document, our Holy Book of modern commerce, which brought us a form of economic enlightenment from the pre-Code Days of Ignorance. Our attachment to the U.C.C. runs far deeper than a mere rational commercial preference. It resembles more that of the faith of the religious believer. This presents a problem, however. Even if we assume that our faith in the U.C.C. has been over the past several decades salutary, and there are good and plenty reasons to believe that it is, and even if the uniformity that is its product has on balance permitted massive economic progress, our near dogmatic faith-like belief in the U.C.C., our Code, has hindered the very type of global uniformity, and the attendant benefits thereto, that it continues to enable in the domestic context. The Article will demonstrate this by focusing on two areas of attempted global convergence in commerce where cross border harmonization of domestic regimes has proved particularly problematic, albeit in different ways in each case. These areas correspond to the respective scope of two of the more hallowed Articles of the Code; namely, Article 2, which deals with the sale of goods, and Article 9, which deals with means to obtain security over debt. This Article also discusses what must be done if meaningful international harmonization is to be achieved.


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Details

Item Type: Article
Status: Published
Creators/Authors:
CreatorsEmailPitt UsernameORCID
Hamoudi, Haider Alahamoudi@pitt.eduHAMOUDI0000-0003-4948-1143
Date: 2012
Date Type: Publication
Journal or Publication Title: DePaul Business and Commercial Law Journal
Volume: 10
Number: 2
Publisher: DePaul University
Page Range: 301 - 364
Schools and Programs: School of Law > Law > Faculty Publications
Refereed: No
Uncontrolled Keywords: Uniform, Commercial, Code, UCC, commercial, law
ISSN: 1542-2763
Official URL: http://via.library.depaul.edu/bclj/vol10/iss2/2
Article Type: Research Article
Date Deposited: 17 Oct 2016 16:58
Last Modified: 25 Aug 2017 04:58
URI: http://d-scholarship.pitt.edu/id/eprint/27009

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