Law Commons^™

Corporations And Corporate Agents: Liability On Commercial Paper Contracts And Attainment Of Holder Status, Harold R. Weinberg

Law Faculty Scholarly Articles

This article focuses on two classes of commercial paper issues. Section I considers the Uniform Commercial Code rules relevant to determining whether a corporation or its agents are bound by contracts made upon a negotiable instrument. Application of these rules continues to be an important and recurrent source of legal disputes. Section II considers the rights of corporations or their agents to obtain holder status prerequisite to enforcing commercial paper contracts. Problems relating to the attainment of this status can result from corporate engagement in joint-enterprise with artificial or natural persons and from the linkage of corporations through common ownership …

Dowling V. United States, Lewis F. Powell, Jr.

Supreme Court Case Files

No abstract provided.

Ucc And Me In Process, Ingrid Michelsen Hillinger

Faculty Publications

No abstract provided.

Hawaiian Ripples, Patricia D. White

Articles

Bacchus Imports, Ltd. and Eagle Distributors, Inc.

v.

George Freitas, Director of Taxation of the State of Hawaii

(Docket No. 82-1565)

Argued January 11, 1984

Evidentiary Problems In--And Solutions For--The Uniform Commercial Code, Ronald J. Allen, Robert A. Hillman

Cornell Law Faculty Publications

The Uniform Commercial Code does not offer a systematic approach to the rules governing the evidentiary relationships of parties to commercial litigation. In this article, Professors Allen and Hillman present a general analytical approach to proof rules, highlight the shortcomings of the Code's evidentiary provisions, and discuss the inevitable confusion in the case law construing the Code. They propose an amendment to the Code designed to clarify and improve the Code approach.

Fraud And Injunctive Relief In International Standby Letter Of Credit Transactions: A Comparative Study, Dirk H. Mahler

LLM Theses and Essays

This study attempts to compare the various concepts which have been developed under U.S. and German law, focusing in particular the interpretation of fraud and the prerequisites for injunctive relief. Comparative analysis of case law, statutory provisions and corresponding commentaries will illustrate that although evolved out of different legal backgrounds the results show only minor deviations, a phenomenon which might support the hypothesis that instruments developed by practitioners to serve international commercial needs tend to give birth to uniform internationalized legal treatment.

The Public And Private Law Dimensions Of The Uffi Problem: Part Ii, David S. Cohen

Elisabeth Haub School of Law Faculty Publications

The subject of this paper, then, is the private and public law dimensions of the formaldehyde problem. The topics which I have chosen to discuss are directly relevant to any inquiry into the nature of the bureaucratic and entrepreneurial processes which together created the UFFI problem. My concern is not to fix blame, and I have chosen not to draw conclusions in respect of the doctrinal and policy issues which I discuss. Rather, I have attempted to describe the regulatory process which was associated with the development of the product, and to discuss the role of the courts in reviewing …

A Jurisprudential Perspective For The True Codification Of Payments Law, Peter A. Alces

Faculty Publications

No abstract provided.

Uniform Commercial Code Annual Survey: General Provisions, Sales, Bulk Transfers, And Documents Of Title, David Frisch

Law Faculty Publications

On a number of issues arising under the Uniform Commercial Code (U.C.C. or Code), the courts have reached conflicting results, yet the number of jurisdictions passing on each such issue remains small. There is still time, then, for discussion of proper solutions of many of such Code issues. Of interest is the continuing judicial struggle with the intermesh of the Code's warranty provisions, the strict liability provisions of the Restatement Second of Torts, section 402A, and the burgeoning new crop of products liability statutes. The trend toward nuclear and computer problems is reflected in cases involving construction of nuclear plants, …

The Priority Secured Party/Subordinate Lien Creditor Conflict: Is "Lien-Two" Out In The Cold?, David Frisch

Law Faculty Publications

The coexistence of secured and unsecured creditors leads inevitably to conflicts between the two. How these conflicts are resolved depends to a great extent on the context in which they arise. It is not the purpose of this Article to examine the ways in which these conflicting interests are handled in insolvency proceedings, whether common law or statutory. Instead, its focus will be on the clash which occurs when an unsecured creditor armed with a judgment attempts to satisfy that judgment by resort to property of the debtor which is already subject to a perfected security interest. Assuming the priority …

Arbitration Of International Contract Disputes, William W. Park

Faculty Scholarship

International commercial arbitration has been the victim of its own success. Arbitration is often the only dispute resolution process acceptable in business contexts where parties from different countries have rejected recourse to each other's legal system at the outset of the contractual relationship. For example, when a Swedish shipyard contracts to build tankers for an agency of the Libyan government, the Swedes are unlikely to relish the prospect of appearing before Libyan courts, and the Libyans may view submission to the courts of Sweden (or of another industrialized Western nation) as an affront to Libyan national sovereignty. Neither the Swedish …

Pleading And Practice In Commercial Paper Cases: Burdens Of Proof, Harold R. Weinberg

Law Faculty Scholarly Articles

Money debts are frequently paid by checks and evidenced by notes subject to Article Three of the Uniform Commercial Code. Financial institutions and other creditors ordinarily take these instruments with the expectation that they will be paid on time without resort to litigation. This expectation fails when the debtor or some other obligor on the instrument claims that its signature was unauthorized or that there is a defense against payment. This Article analyzes the Uniform Commercial Code rules concerning burdens of proof that apply to these disputes and gives consideration to related procedural and evidentiary questions. It concludes with some …

Efficiency Justifications For Personal Property Security, James J. White

Articles

In February of 1983 Pan American World Airways issued 100 million dollars of convertible secured notes. As security for these notes it put up three Boeing 747 SP aircraft, two 747-100 aircraft, and one McDonnell Douglas DC10-30. The appraised value of these aircraft was 157 million dollars. To the extent possible under the law, Pan American made these aircraft subject to the claims of the owners of the new notes. On default, the note holders would have the first claim on these aircraft, would have the right to repossess them outside of bankruptcy, and would have the right to the …

An Economic Analysis Of The Lost-Volume Retail Seller, Victor P. Goldberg

Faculty Scholarship

Suppose that a customer agrees to buy a boat and before it is delivered, he reneges. The dealer subsequently resells the boat to another customer at the same price. Has the seller suffered damages (aside from incidental damages) and, if so, should he be compensated? This question, dubbed the lost-volume seller problem, has been the subject of considerable legal analysis, usually in the context of explicating section 2-708(2) of the Uniform Commercial Code (U.C.C.). There have been a number of attempts to apply economic analysis to this difficult question, the most recent by Professors Goetz and Scott. Unfortunately, the economic …