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The Purchase Money Security Interest In Inventory Versus The After-Acquired Property Interest-A "No Win" Situation, Nathaniel Hansford
The Purchase Money Security Interest In Inventory Versus The After-Acquired Property Interest-A "No Win" Situation, Nathaniel Hansford
University of Richmond Law Review
Extending credit entails risk. Seldom is a creditor absolutely assured of complete payment of his debt. Not only is there a risk in almost every loan, but the types of risks that must be weighed are manifold. The debtor may be a poor business person and never make a profit sufficient to repay the debt. The debtor class is replete with scoundrels and outright crooks who borrow money without any intention to service the debt. The economy may slump to such a degree that even astute business persons are pressed to pay their outstanding obligations. The creditor's collateral may deteriorate …
The Due-On-Sale Clause: A Marriage Gone Sour- A Checklist For The Practitioner, W. Wade Berryhill
The Due-On-Sale Clause: A Marriage Gone Sour- A Checklist For The Practitioner, W. Wade Berryhill
University of Richmond Law Review
The problem begins simply enough. Soon moving to another city a homeowner negotiates and signs a contract for the sale of his present home. The contract provides that the purchasers are to assume the current mortgage with an interest rate of 91 %. The vendor and the purchasers notify the lender of the intended sale. Despite the fact that the proposed purchasers qualify as acceptable credit-risks, the lender informs the parties that the current mort- gage contains a "due-on-sale" clause and that he intends to accelerate the due date of the mortgage unless the purchasers agree to accept an increase …