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Full-Text Articles in Commercial Law
Personal Property Security Law: International Ambitions And Local Realities, Giuliano G. Castellano, Andrea Tosato
Personal Property Security Law: International Ambitions And Local Realities, Giuliano G. Castellano, Andrea Tosato
All Faculty Scholarship
Personal property security law is a key element of “access to credit” and “financial inclusion”. The prevailing view is that a legal framework enabling the effective use of personal property as collateral markedly benefits both lenders and borrowers. Lenders can offer financing at a lower cost thanks to reduced credit risk; borrowers can access funding by leveraging the otherwise unavailable value of the assets integral to their operations.
Over the past century, the priorities of personal property security law have evolved fundamentally. As small and medium-sized enterprises (SMEs) and individual entrepreneurs have become the growth engine of both developed and …
Regulatory Takings And The Constitutionality Of Commercial Rent Regulation In New York City, Henry Topper
Regulatory Takings And The Constitutionality Of Commercial Rent Regulation In New York City, Henry Topper
Cornell Law Library Prize for Exemplary Student Research Papers
In recent years, the plight of small businesses in New York City has become a contentious topic. Although the city and its current mayoral administration share a long-standing commitment to affordable housing, the city’s small businesses—an integral and defining feature of the urban landscape—have suffered immensely. In the past decade, local establishments have largely given way to a homogeneous landscape of empty storefronts and national chain stores.The loss of local busi- ness occurs with such staggering frequency that there is an entire thriving blog subculture documenting their “vanishing” and the Center for an Urban Future publishes an annual report on …
Empowering The Poor: Turning De Facto Rights Into Collateralized Credit, Steven L. Schwarcz
Empowering The Poor: Turning De Facto Rights Into Collateralized Credit, Steven L. Schwarcz
Faculty Scholarship
The shrinking middle class and the widening gap between the rich and the poor constitute significant threats to social and financial stability. One of the main impediments to upward mobility is the inability of economically disadvantaged people to use their property — in which they sometimes hold only de facto, not de jure, rights — as collateral to obtain credit. This Article argues that commercial law should recognize those de facto rights, enabling the poor to borrow to start businesses or otherwise create wealth. Recognition not only would provide benefits that exceed its costs; it also would be consistent with, …