Final answer:
The Uniform Commercial Code is a collection of laws that regulate transactions involving personal property, aimed at standardizing commercial laws across the U.S., and unrelated to real estate or a business code of ethics.
Step-by-step explanation:
The Uniform Commercial Code (UCC) is a set of business laws designed to harmonize the law of sales and other commercial transactions across the United States. Its primary purpose is to regulate transactions involving personal property, rather than real estate.
Property matters, such as the ownership, use, and disposal of property, fall under these laws, along with a business owner’s responsibility to comply with government regulations like zoning. The UCC does not cover real estate transactions, commercial business codes of ethics, or establish uniform laws on the subject of bankruptcies. Instead, its coverage includes topics such as lease contracts and negotiable instruments. The UCC facilitates commerce by providing a consistent legal framework, contributing to the broader authority Congress has under the interstate commerce clause to regulate commerce between states, which also includes setting national standards like the minimum wage.