Commercial Transactions

Because 2004 was not a legislative year, there were no statutory changes in the Texas Uniform Commercial Code ("Code") during the Survey period. There were, however, some significant cases decided under Chapters 2 and 3 of the Code dealing with the sale of goods and negotiable instruments, respectively. In addition, several other cases were decided that clarify or affirm the interpretation of the Code in a variety of contexts. Because the Code is also a (more or less) uniform law, this Survey discusses some legislative action in other jurisdictions of interest to Texas practitioners. This article follows the usual format of discussing these decisions and developments in the same order as that of the Code itself.