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Interpretation, Construction and Revision of the Commercial Code: The Presumption of Holding in Due Course

Frederick K. Beutel
It is usually assumed that the codification of the law or of a particular statute goes through four stages. These are drafting, enactment, interpretation, and revision. Due to a number of unusual circumstances, the history of the Uniform Commercial Code has not clearly followed these steps. So as a preliminary matter it might be beneficial briefly to review it.
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