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Full-Text Articles in Law
Informality As A Bilateral Assurance Mechanism: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Avery Wiener Katz
Informality As A Bilateral Assurance Mechanism: Comments On Ronald Mann's 'The Role Of Letters Of Credit In Payment Transactions', Avery Wiener Katz
Michigan Law Review
Ronald Mann's study of documentary defects in the presentation of commercial letters of credit is a valuable contribution to the commercial law literature in at least three respects. First, it offers a detailed and thorough empirical survey of an important though specialized aspect of commercial practice. Mann collected and coded a data sample of 500 randomly selected letter-of-credit transactions, personally evaluating each transaction to determine whether the documentary presentation by the beneficiary of the letter of credit (i.e., the seller) complied with the letter's formal terms. Then, for each case in which he found one or more documentary defects, Mann …
Disclosure Of Finance Charges: A Rationale, Robert L. Jordan, William D. Warren
Disclosure Of Finance Charges: A Rationale, Robert L. Jordan, William D. Warren
Michigan Law Review
One wonders whether in all of the talk generated about disclosure in the past few years the purposes of disclosing finance charges to consumers have not been somewhat obscured. This article is an attempt to examine the subject of disclosure from the standpoint of the function it performs in consumer credit transactions. We shall discuss the various methods of computing finance charges in the different segments of the finance industry, the functions of disclosure of finance charges and the feasibility of using different computational methods in each category of consumer transactions. The problems involved in requiring the disclosure of finance …
The Relative Priority Of Small Business Administration Liens: An Unreasonable Extension Of Federal Preference?, Ronald L. Olson
The Relative Priority Of Small Business Administration Liens: An Unreasonable Extension Of Federal Preference?, Ronald L. Olson
Michigan Law Review
During the past three decades, the priority of the federal government as against state and private creditors competing for the assets of debtors has been greatly strengthened. In terms of relative growth, the expansion of federal priority has been comparable to the increased commercial involvement of the United States. In more recent years, Congress and the judiciary have recognized that this increased governmental commercial activity necessitates a restriction in sovereign prerogatives. However, contrary to this general trend toward the contraction of sovereign prerogatives and for reasons appearing unsatisfactory to most commentators, the "sovereign prerogative" of priority to the assets of …
Banks And Banking- Housing And Home Finance - Scope Of Insurance Coverage Of Banks Under National Housing Act, Robert L. Mclaughlin
Banks And Banking- Housing And Home Finance - Scope Of Insurance Coverage Of Banks Under National Housing Act, Robert L. Mclaughlin
Michigan Law Review
Borrower executed a promissory note to dealer payee, who assigned it to defendant bank. After default by borrower, plaintiff United States paid to defendant the unpaid balance in accordance with the terms of their insurance contract under Title I of the National Housing Act. The note was then transferred to plaintiff for collection. In an action by the United States against the borrower for the amount due, it was held that the note could not be enforced because of fraudulent misrepresentation by the dealer in acquiring the note, of which the insured bank and transferee government had constructive knowledge. Plaintiff …