The Uniform Commercial Code (UCC) plays a crucial role in governing and regulating commercial transactions and sales within the United States of America. The main objective was to have a standardized and uniform set of rules and regulations to regulate sales and commercial transactions. Every contract of sale stipulates a performance standard for both buyers and sellers. It is done to ensure that they are consistent with their obligations of performing acts in good faith. As long as the stipulated performance standards are reasonable, it is found that the principle of good faith is met. In every contract, the buyer and seller must cooperate to perform the terms of the contract to reach an agreement and ensure that all parties can fulfill their obligations under this contract. Refusal to perform the terms of the contract or refusal to disclose material information and facts that change the true nature of the contract, all instances of parties in a contract of sale acting in bad faith. For example, John is the employer of Ann. She is an employee at a supermarket. John promised to give her a raise in salary if she performed well for three months without taking a leave. However, John had no intention of keeping the promise. Therefore, such an act is done in bad faith.
Subjective and Objective Test of Good Faith
The principle of good faith plays a significant role in the Uniform Commercial Code. Every transaction that takes place involves an implied obligation of performing the contract in good faith. In every contract of sale, both the buyer and seller must negotiate and perform or comply with the contract terms in good faith. In such a situation, it becomes imperative to understand what amounts to good faith and the standard of good faith applied in a particular transaction. The following subjective and objective tests are used to determine if the parties to a contract behaved in good faith while dealing in a transaction:
The parties in a contract must act or perform in such a way that their belief was proper. It is regarded as a subjective test.
The objective tests lay down that the parties in a contract acting or behaving in a manner which they believe is proper is not sufficient. However, this belief must be honest and morally right. The second aspect of an objective test of good faith is that even if a partyâ€™s belief is not reasonable, it must be rational. The third factor is that the party must employ reasonable standards of fair dealings.
Need and Purpose of UCC
Despite aiming to bring about uniformity in all states, the UCC or some articles in the UCC have not been adopted in certain jurisdictions. The need for uniformity is largely felt, especially due to the increasing number of interstate commercial transactions. For example, a business could be manufactured in one state, while the storage and other processes may occur in another state. Therefore, a transaction that extends across all three states cannot have different laws. In such a situation, having a common law that applies to all states becomes useful, essential, and practical. The increase in the movement of individuals between states and interstate businesses led to the need to have uniform laws in all states on certain subjects. There were two approaches to address this problem, the Federal government and the State government enacted laws. In 1892, the American Bar Association established the National Conference of Commissioners on Uniform State Laws (NCCUSL). It was a non-governmental body comprised of lawyers, judges, and law professors appointed by the state. The main objective of this body was to draft uniform laws on various subjects and encourage all the states to adopt these laws. Uniformity was the key element they sought to achieve. The NCCUSL only had the power to propose to states draft laws. These drafts are considered mere legislative proposals. They become laws only when the state legislatures enact them. Out of the 200 draft laws proposed, the State Legislature has enacted over 100 in the US. One of the longest and successfully adopted uniform laws in the USA is the Uniform Commercial Code. The UCC has acquired substantial uniformity in commercial law while also allowing states to modify their text according to the circumstances prevailing in that particular state.
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