All Legal Terms by letter U

UCC, Uniform Commercial Code :- The UCC is the acronym for the Uniform Commercial Code. Coincidentally, UCC also refers to the Universal Copyright Convention. The more common reference is to the commercial code, which is largely adopted in all of the states and sets forth a regularized system of business transaction understandings.

UCCC, Uniform Consumer Credit Code :- The UCCC is the acronym for the Uniform Consumer Credit Code. This model act sets up restrictions on business transactions for consumers in applying for credit and for conducting credit sales.

U.S. Copyright Office :- This is the location for the physical registration of copyrights in Washington, D.C.

Ultra Vires :- Ultra Vires acts are unauthorized acts, especially those of a corporation. All corporations must state the purpose of their existence in their initial filings, usually in the articles of incorporation. Activities that are beyond the scope of those purposes are said to be ultra vires.

Unauthorized Practice of Law :- Only persons that have been licensed to practice law or who have been admitted to the bar are allowed to render legal services to other persons. All others are, strictly speaking, unauthorized.

Unavoidable Accident :- In personal injury cases, or negligence cases, a party defendant cannot be liable to plaintiff for causing an accident that could not have been prevented with the exercise of reasonable care. Most courts today do not preclude the defendant from claiming the accident was unavoidable, but few judges will keep that question away from the jury.

Unconscionable :- In contract law, where the circumstances of the parties are such that one had great power in the negotiations and the other did not, the terms of the contract may be examined by the court for overreaching and therefore unconscionable.

Unconstitutional :- Something that is against or contrary to a provision of a constitution. In the United States it is the judicial branch of the government that will declare a statute unconstitutional. The courts will wait until a proper constitutional issue arises in a case before making a ruling as to constitutionality.

Undercapitalization :- A corporation is deemed to be undercapitalized when it has less capital, or assets, than will be required for it to set up its business.

Underwriter :- An underwriter is one who accepts insurance risks in exchange for a premium, or one who agrees to purchase all of a particular issuance of stock for the purpose of reselling it.

Undue Influence :- Undue influence is the intentional act of depriving someone of their free will through an improper use of subtle yet coercive power, or by a misuse of a trust relationship, such that the will of a person is overborne and is submitted to the will of the person exercising the undue influence. The issue of undue influence arises in conflicts over wills and decedent's estates.

Unearned Income :- Unearned income, as the term relates to income tax law, is income received from sources other than wages, salaries, tips, and similar employee compensation. Income from rent, dividend payments received, and interest on bank accounts are examples of unearned income.

Unemployment Insurance :- Unemployment insurance is a government program that offers some measure of financial assistance and protection to persons who become unemployed for a period of time through no fault of their own. Premiums for this coverage is partially paid by the employers as a requirement.

Unfair Competition :- Unfair competition is dishonest or fraudulent business practices.

Uniform Child Jurisdiction Act :- The UCCJA is a model act adopted by most states in some form or another that sets out a standard analysis for determining which state should have jurisdiction to make custodial decisions for a particular child. The act was aimed at preventing divorcing parents from absconding with their children to have custody determined in other, perhaps more favorable or friendlier jurisdictions.

Uniform Commercial Code :- The UCC is a model act adopted by most states in some form or another that sets out a standard for commercial transactions, including sales of goods, commercial paper, securities, bulk transfers, etc.

Uninsured Motorist Coverage :- This is a type of automobile insurance coverage that most states now require to be included in all policies of insurance. The aim of the requirement is to afford some level of compensation in cases where injuries are caused by collisions with uninsured, or unknown hit and run drivers.

Unjust Enrichment :- Unjust enrichment can be the basis of a claim against a party that has unjustly gained a benefit at the innocent expense of another. This is an equity concept from the common law.

Unlawful :- Unlawful, simply put, is that which is illegal or which is not authorized by law. Claims are based on unlawful acts.

Unlawful Detainer :- Unlawful Detainer is the retention of real property belonging to another past the date or time that the original entry onto the property was lawfully made. For example unlawful detainer will lie where a tenant holds over on the rented premises at the end of the lease term. Damages will lie for unlawful detainers.

Unqualified Opinion :- An unqualified opinion is an accounting legal term that should be compared with the concept of a Qualified Opinion. An unqualified opinion is an auditor's opinion on a company's financial condition and position that is made without reservation and with apparent full information, i.e., without any qualification.
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Unrealized Gains and Losses :- An unrealized gain or loss is a fluctuation in market value for those securities being held by an investor. The gains or losses exist only on paper.

Unsecured Debt :- A debt is said to be be unsecured when it has no collateral backing it. The only security for the debt is simply the promise to pay .