Please enlighten me, oh wise graduate of the University of MD business law classes.
If not the UCC, then what body of law would you apply? And how does that differ from the UCC on the relevant issue?
Or open the Loan Documents and go to the last paragraph on page 8 in Adobe Reader, which is at the bottom of the first page of the Commercial Security Agreement. Why does it define "Enforcement of Collateral" with express reference to the UCC? Why does the last paragraph on the next page authorize the lender to file a UCC financing statement? Why does the middle portion of the third page (as well as the top of the 4th) provide the Bank with all of the rights of a "secured party under the Delaware UCC"?
How do I know you are stupid? You wrote this: "The UCC is used when there is a dispute in the terms of a contract, not when their [sic] is agreement between the contracting parties".
The UCC was designed to: (1) to simplify, clarify, and modernize the law governing commercial transactions; (2) to permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and (3) to
make uniform the law among the various jurisdictions.
Sec. 1-103
Any court that has to determine the existence of a security interest has to rely on the UCC.
You are a waste of time. You've blathered on brainlessly about the UCC, and you will stick to your ill-informed opinion even when the basis of that opinion has been shot to pieces.
You are too stupid to realize how stupid you are.