Article Abstract:
Contract and commercial law must evolve to address the increasing number of contractual relationship established in business that do not involve traditional human involvement. The Uniform Commercial Code (UCC) governs sales transactions involving goods, but contracts for sales in the electronic world, such as sales of online access, are not covered by the UCC. The process of forming contracts can be done by computers, as with programmed stock trading, and contract law must be able to encompass these new forms of transactions.
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Article Abstract:
Article 2B of the UCC governing licenses provides a framework for those operating in the growing international information economy which is flexible enough to adapt to changes in breadth and scope. It retains positive principles contained within other UCC sections and expands upon them by applying mass market principles to business transactions. Areas in which it provides guidance includes license formation, parties, and remedies.
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Article Abstract:
Those participating in the growing sector of information commerce have a uniform framework within which to operate with the publication of Article 2B of the UCC governing licenses. Article 2B departs from other UCC provisions guiding goods transactions by necessity due to the fundamentally different character of information transactions. It retains the stability and respect for relations structured by the contracting parties.
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