SHORT TITLE, CONSTRUCTION, APPLICATION AND SUBJECT MATTER OF THE ACT

NMSA 1978 ch. 55, art. 1, pt. 1

in effect

NMSA 1978, § 55-1-101 Short titles

55-1-101. Short titles (a) Chapter 55 NMSA 1978 shall be known and may be cited as the "Uniform Commercial Code"; and (b) Chapter 55, Article 1 NMSA 1978 shall be known and may be cited as the "Uniform Commercial Code-General Provisions". 1953 Comp., § 50A-1-101, enacted by Laws 1961, ch. 96, § 1-101; 1992, ch. 114, § 1; 2005, ch. 144, § 1.

NMSA 1978, § 55-1-102 Scope of article

55-1-102. Scope of article Chapter 55, Article 1 NMSA 1978 applies to a transaction to the extent that it is governed by another article of the Uniform Commercial Code. Laws 2005, ch. 144, § 2.

NMSA 1978, § 55-1-103 Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law

55-1-103. Construction of Uniform Commercial Code to promote its purposes and policies; applicability of supplemental principles of law (a) The Uniform Commercial Code must be liberally construed and applied to promote its underlying purposes and policies, which are: (1) to simplify, clarify and modernize the law governing commercial transactions; (2) to permit the continued expansion of commercial practices through custom, usage and agreement of the parties; and (3) to make uniform the law among the various jurisdictions. (b) Unless displaced by the particular provisions of the Uniform Commercial Code, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy and other validating or invalidating cause, supplement its provisions. 1953 Comp., § 50A-1-103, enacted by Laws 1961, ch. 96, § 1-1032; 1978 Comp.; Laws 2005, ch. 144, § 3.

NMSA 1978, § 55-1-104 Construction against implicit repeal

55-1-104. Construction against implicit repeal The Uniform Commercial Code being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided. 1953 Comp., § 50A-1-104, enacted by Laws 1961, ch. 96, § 1-104; 2005, ch. 144, § 4.

NMSA 1978, § 55-1-105 Severability

55-1-105. Severability If any provision or clause of the Uniform Commercial Code or its application to any person or circumstance is held invalid, the invalidity does not affect other provisions or applications of the Uniform Commercial Code which can be given effect without the invalid provision or application, and to this end the provisions of the Uniform Commercial Code are severable. 1953 Comp., § 50A-1-108, enacted by Laws 1961, ch. 96, § 1-108; 1978 Comp., § 55-1-108; recompiled by compiler as NMSA 1978, § 55-1-105; Laws 2005, ch. 144, § 5.

NMSA 1978, § 55-1-106 Use of singular and plural; gender

55-1-106. Use of singular and plural; gender In the Uniform Commercial Code, unless the statutory context otherwise requires: (1) words in the singular number include the plural, and those in the plural include the singular; and (2) words of any gender also refer to any other gender. 1953 Comp., § 50A-1-106, enacted by Laws 1961, ch. 96, § 1-106; 2005, ch. 144, § 6. Cross references. - Sections 1-103, 1-203, 2-204 (3), 2-701, 2-706 (1), 2-712 (2) and 2-716.

NMSA 1978, § 55-1-107 Section captions

55-1-107. Section captions Section captions are part of the Uniform Commercial Code. 1953 Comp., § 50A-1-109, enacted by Laws 1961, ch. 96, § 1-109 1978 Comp., § 55-1-109; recompiled by compiler as NMSA 1978, § 55-1-107; Laws 2005, ch. 144, § 7. Cross references. - Sections 1-203, 2-201 and 2-209; and see Section 2-719.

NMSA 1978, § 55-1-108 Relation to Electronic Signatures in Global and National Commerce Act

55-1-108. Relation to Electronic Signatures in Global and National Commerce Act Chapter 55, Article 1 NMSA 1978 modifies, limits and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 U.S.C. Section 7001 et seq., except that nothing in this article modifies, limits or supersedes Section 7001(c) of that act or authorizes electronic delivery of any of the notices described in Section 7003(b) of that act. Laws 2005, ch. 144, § 8.

Source: New Mexico Compilation Commission (nmonesource.com)URL: https://nmonesource.com/nmos/nmsa-unanno/en/item/18558/index.doFetched: 10/20/2026