New York justifiably prides itself on being one of the world's major financial and commercial centers. In addition, very few would dispute that New York is a, if not the, preeminent commercial law jurisdiction.
The New York Uniform Commercial Code Comes of Age
Parties in large non-consumer transactions with no connection whatsoever to New York often choose its law to govern their transactions, and New York statutes permit them to do so. What most people do not know is that the New York Uniform Commercial Code is outdated.
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