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Full-Text Articles in Law
An Essay On Independence, Interdependence, And The Suretyship Principle, Peter A. Alces
An Essay On Independence, Interdependence, And The Suretyship Principle, Peter A. Alces
Faculty Publications
In this article, Professor Peter A. Alces investigates the tension that exists between the independent and interdependent nature of contractual relations arising in suretyship agreements and letter of credit transactions. This discussion is particularly timely as the American Law Institute is currently revising both the Restatement of the Law of Suretyship and Article 5 of the Uniform Commercial Code, "Letters of Credit." This article discerns a basic incongruity between the two revisions' treatment of interrelated multiple party rights and discusses the consequences that this incongruity can be expected to have upon commercial transactions.
The Efficacy Of Guaranty Contracts In Sophisticated Commercial Transactions, Peter A. Alces
The Efficacy Of Guaranty Contracts In Sophisticated Commercial Transactions, Peter A. Alces
Faculty Publications
Even though contracts of guaranty are not subject to uniform standards of interpretation throughout the states, both case law and statutory development have tended to evidence a strong sympathy for the guarantor. In spite of this trend, Professor Alces suggests that creditors' counsel can, through careful drafting, do much to assure the enforceability of the guaranty contract. A scrupulously structured guaranty contract, one that anticipates possible defenses to liability in explicit terms, may well be upheld, even in cases in which guarantors occupied weak negotiating positions vis-a-vis creditors. Moreover, the attack on the guaranty as a fraudulent conveyance under section …
The Distinction Between Surteyship And The Guaranty In States Having The Field Code Provisions, Joseph M. Cormack, Neil G. Mccarroll
The Distinction Between Surteyship And The Guaranty In States Having The Field Code Provisions, Joseph M. Cormack, Neil G. Mccarroll
Faculty Publications
No abstract provided.