Contracts Commons^™

Hostile Restructurings, Diane L. Dick

Washington Law Review

The conventional wisdom holds that out-of-court loan restructurings are mostly consensual and collaborative. But this is no longer accurate. Highly aggressive, nonconsensual restructuring transactions—what I call “hostile restructurings”—are becoming a common feature of the capital markets. Relying on hypertechnical interpretations of loan agreements, one increasingly popular hostile restructuring method involves issuing new debt that enjoys higher priority than the existing debt; another involves transferring the most valuable collateral away from existing lenders to secure new borrowing.

These transactions are distinguishable from normal out-of-court restructurings by their use of coercive tactics to overcome not only the traditional minority lender holdout problem, …

The Warranty Of Merchantability And Computer Software Contracts: A Square Peg Won't Fit In A Round Hole, Edward G. Durney

Washington Law Review

Courts have consistently held that Article 2 of the Uniform Commercial Code (U.C.C.) governs transactions involving computer hardware. Treatment of computer software transactions has been less consistent. This Comment contends that computer software, an intangible, is not within the scope of Article 2. It further contends that the warranty of merchantability cannot meaningfully be applied by analogy in computer software contracts. Finally, this Comment concludes that existing tort and contract causes of action provide software users with sufficient protection.

Ucc Section 9-301 (1) And Accounts, Contract Rights, And Chattel Paper: The Non-Existent Priorities, Anon

Washington Law Review

It has been said that "fortunately ... experience indicates that the practical importance of . . . [Uniform Commercial Code priority] problems is probably less than their intellectual challenge."' This may be fair warning to eager students, lawyers, and legal scholars. Such warnings, however, are seldom heeded, and pursuits of intellectual challenge are often productive. Constructive analysis of section 9-301(1) (c) and (1) (d) of the Uniform Commercial Code, insofar as they relate to "chattel paper," "accounts," and "contract rights," may prove to be most beneficial.

Unconscionability In Consumer Sales Contracts—A Defense To Actions At Law, And Under The Ucc, Anon

Washington Law Review

Plaintiff, operator of a retail furniture store, sold a five hundred dollar stereo set on installment contract to defendant Williams, knowing that defendant supported herself and seven children on a two hundred eighteen dollar monthly welfare payment. At the time defendant bought the set, she owed plaintiff one hundred sixty four dollars on thirteen prior purchases. The form contract provided that plaintiff would retain title to all items purchased until the purchaser had paid all amounts due in full, and that the debt on each item was secured by the right to repossess all items purchased. When defendant defaulted shortly …