In this video, Teresa Wilton Harmon, Marsha E. Simms, Steve O. Weise, Neil B. Cohen, and Troy A. Mackenzie discuss how the Uniform Commercial Code has promoted safe, predictable, reliable commerce for businesses and consumers throughout the United States.

Updated regularly, the UCC is maintained by the Permanent Editorial Board for the Uniform Commercial Code (PEB). The PEB, a joint committee of ALI and the Uniform Law Commission, discourages nonuniform amendments or additions to the UCC by the states, assists in attaining and maintaining uniformity in state statutes governing commercial transactions, and monitors the law of commercial transactions for needed modernization or other improvement.


Neil B. Cohen

Reporter, Data Economy

Neil B. Cohen is the Jeffrey D. Forchelli Professor of Law at Brooklyn Law School and teaches courses in domestic and international commercial law, contracts, and conflict of laws. For over two decades, Professor Cohen has been a key participant in major domestic and international law reform projects with respect to commercial transactions. He served as Reporter for Revised Article 1 of the Uniform Commercial Code and for ALI’s Restatement of the Law of Suretyship and Guaranty. Professor Cohen currently serves as the Director of Research of the Permanent Editorial Board for the Uniform Commercial Code. In addition, he has been a member of several drafting committees for revising various articles of the Uniform Commercial Code, including the two most recent revisions of Article 9 (Secured Transactions).

Teresa Wilton Harmon


Teresa Wilton Harmon is a partner of  Sidley Austin LLP and a member of the Permanent Editorial Board for the Uniform Commercial Code, a joint committee of ALI and the Uniform Law Commission. 

Troy A, McKenzie

New York University School of Law

Troy A. McKenzie joined the faculty of NYU School of Law in 2007. His scholarly interests include bankruptcy, civil procedure, complex litigation, and the federal courts. His work explores litigation and the institutions that shape it—particularly complex litigation that is resolved through the class action, bankruptcy, and other forms of aggregation. He earned a bachelor’s degree in chemical engineering from Princeton University and his law degree from NYU Law.

Marsha E. Simms

Weil, Gotshal & Manges LLP

Marsha E. Simms is a retired partner from Weil, Gotshal & Manges LLP. Marsha was a partner in the New York office and member of the Corporate group. Marsha's principal practice areas were bank finance and corporate debt restructuring. She has had over 30 years' experience working with chief financial and legal officers negotiating financings and restructurings, as well as coordinating compliance and day-to-day operating issues, for corporations in the retail, home fashions, art, telecommunications and energy areas.

Steven O. Weise

Steven O. Weise is a partner in the Corporate Department at Proskauer Rose, Los Angeles. He practices in all areas of commercial law.Steven’s experience in financing is extensive, especially in those secured by personal property, including structured financing. He also handles matters involving California real property anti-deficiency laws, workouts, guarantees, sales of goods, equipment leasing, commercial paper and checks, letters of credit, and investment securities. Steven’s experience covers e-commerce, contract law (including “plain English” drafting), legal opinions, and consumer credit law compliance matters. In addition, Steven lectures widely on commercial law topics and legal opinion letters and is the author of over 100 articles on these topics.



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