Vanderbilt Law Review

First Page



Obviously, the biggest event in the Tennessee law of commercial transactions this year was the enactment of the Uniform Commercial Code [hereinafter referred to as the U.C.C.]. That statute became effective in this state on July 1, 1964. Its effect on the prior Tennessee law is discussed in great detail elsewhere in this issue,' and need not be re-examined here. It should also be pointed out that the enactment of the U.C.C.required some modifications in the criminal statutes relating to security agreements. In particular, executing a second security agreement covering personalty, without disclosing a prior security agreement covering the same property, will now be punishable under Tennessee Code Annotated section 39-1936; and removing outside the state or disposing of any personalty subject to a security agreement will now be punishable under Tennessee Code Annotated sections 39-1956 and 39-1957.