Tennessee House Bill HB2806

Tennessee 2023-2024 Regular Session

• Introduced: 1/31/24
• Refer: 2/14/24
• Refer: 3/12/24

Caption

AN ACT to amend Tennessee Code Annotated, Title 47, relative to the uniform commercial code.

Impact

The amendment introduced by HB2806 is expected to impact contractual obligations and timelines within various commercial transactions in Tennessee. By altering the designated time frame, the bill may facilitate more effective negotiations and allow businesses additional time to meet their contractual duties without compromising the legal framework of the uniform commercial code. Such a change could potentially lead to revisions in contract language and practices across industries affected by the commercial code, ensuring compliance with the updated timeline.

Summary

House Bill 2806 aims to amend Tennessee Code Annotated, specifically Title 47 concerning the uniform commercial code. The primary change proposed by this bill is the adjustment of a time frame relating to business practices. The amendment suggests replacing the term 'ten (10) days' with 'eleven (11) days', thereby extending the period for certain obligations under the commercial code. This change is aimed at providing clarity and potentially accommodating businesses in their contract and negotiation processes.

Sentiment

The general sentiment around HB2806 appears to be supportive among stakeholders who deal directly with the uniform commercial code. Broadly, the business community may view this amendment positively, as it allows for more flexibility in managing contractual agreements. However, some legal analysts and experts may express caution, considering how changes in time frames can affect legal disputes and compliance standards, requiring a thorough understanding of the implications of this adjustment.

Contention

While the bill largely seems to be uncontroversial, some may argue about the need for such amendments. Critics might question whether an additional day is necessary in business dealings or if it could complicate existing practices more than it simplifies them. However, no significant opposition is indicated in the discussions or voting history surrounding HB2806, which suggests a consensus or at least a lack of contention among legislators regarding this specific amendment.