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§ 2260.703. Commercial reasonableness

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and CommerceEffective: January 18, 2000

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 41. Electronic Transactions Act (Refs & Annos)
Chapter 7. Attribution of Records and Signatures
Effective: January 18, 2000
73 P.S. § 2260.703
§ 2260.703. Commercial reasonableness
Currentness
The efficacy and commercial reasonableness of a security procedure is to be determined by the court. In making this determination, the following rules apply:
(1) A security procedure established by statute or regulation is effective for transactions covered by the statute or regulation.
(2) Except as otherwise provided in paragraph (1), commercial reasonableness and effectiveness is determined in light of the purposes of the security procedure and the commercial circumstances at the time the parties agree to or adopt the procedure.

Credits

1999, Dec. 16, P.L. 971, No. 69, § 703, effective in 30 days.
73 P.S. § 2260.703, PA ST 73 P.S. § 2260.703
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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