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HISTORY OF THE UNIFORM COMMERCIAL CODE PROJECT INCLUDING AGREEMENTS BETWEEN ALI AND NCCUSL (INCLUDING PEB AGREEMENT) 1 (No Date)

handle is hein.ali/alicc0001 and id is 1 raw text is: uSISTORY OLTH COL LEJCIAI. CODE PROM L JET The Commercial Code Project had its roots in a few paragraphs of the annual address delivered by President Win. ,A. Schnader of the National Conference of Commissioners on Uniform State Laws at its 50th Annual Meeting in Philadelphia in September 1940. I. President Schnader said: Our splendid commercial acts were pre- pared and adopted by this Conference many years ago. Many changes in methods of trans acting business have taken place in the mean- while. In addition, they were adopted and re- commended piece-meal. In a number of respects, there is overlapping and duplication, and in some instances, inconsistency, in dealing with negotiable instruments, bills of lading, ware- house receipts, stock transfers, sales and trust receipts. Could not a great uniform commercial code'be prepared, which would bring the com- mercial law up to date, and which could be- come the uniform law of our fifty-three Juris- dictions, by the passage of only fifty-three acts, instead of many times that number? It is estimated that a very substantial sum would be required to prepare such a code, of a quality which would do credit to the Conference and be acceptable to our legisla- tures; but I cannot believe that if the Con- ference votes to undertake this work, it will be long delayed by the lack of necessary funds. Such a project would seem to bear a close kin- ship to the American Law Institute's restate- ment of the decisional law.1- 1 1940 Handbook of the National Conference of Commissioners on Uniform State Laws, p. 58. Hereafter, references to Handbooks of the Conference will merely use the word Hand- book.