Law Commons^™

Bitproperty And Commercial Credit, Christopher K. Odinet

Christopher K. Odinet

Mission Impracticable: The Impossibility Of Commercial Impracticability, Jennifer Camero

The University of New Hampshire Law Review

[Excerpt] “Residents of Chicago’s Streeterville neighborhood certainly cannot forget the recent financial crisis thanks to a gaping hole in their midst. That hole is to be the home of the Spire, the tallest building in the Northern Hemisphere, at 2,000 feet high with 1,194 residences ranging in price from $750,000 for a studio to $40 million for the penthouse. The developer, Shelbourne Development Group, Inc., began construction in 2007 using its own funds. It also obtained “starter” funds from Bank of America via a loan agreement that required Shelbourne to demonstrate proof of a construction loan by November 1, 2008. …

Mezzanine Debt And Preferred Equity In Real Estate, Andrew R. Berman

Articles & Chapters

No abstract provided.

Whatever Happened To The Uniform Land Transactions Act?, Ronald B. Brown

Faculty Scholarship

No abstract provided.

Seller’S Damages From A Defaulting Buyer Of Realty: The Influence Of The Uniform Land Transactions Act On The Courts, Gerald Korngold

Articles & Chapters

No abstract provided.

The Warranty Of Quality In Sale Of Goods Under The Perspective Of The American And French Law, Renaud Baguenault De Puchesse

LLM Theses and Essays

While the United States’ common law system is characterized by diversity due to each state having its own set of rules, in certain areas there are nationwide legislative attempts of unification and standardization. One such attempt is the adoption of the Uniform Commercial Code which governs the sale of goods law in the United States. The French civil law system generally differs greatly from the American system in that it is primarily based upon statutes and codes. However, the American Uniform Commercial Code and the French Civil Code provide tangible, comparable bases to assess similarities and differences between American and …

Strict Liability For Chattel Leasing, Richard C. Ausness

Law Faculty Scholarly Articles

Leasing has become an increasingly popular substitute for outright purchases as a means of acquiring products for use. Few courts and commentators, however, have addressed the question of whether the principles of strict products liability which apply to sellers also apply to lessors. In this Article, Professor Ausness reviews the historical basis for imposing strict liability in tort on sellers and applies these rationales to five basic kinds of lease transactions. He concludes that strict liability should not apply when a product defect arises after the leased product is placed in the hands of the lessee (as contrasted with the …

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 …

Dancing On The Edge Of Article 9, James J. White

Articles

Despite the fact that Article 9 is a much more comprehensive personal property security statute than was ever found in American law prior to its enactment, cases continue to present issues on the scope of the Article. Gone are the cases in which a court was called upon to determine whether a "conditional sales contract" could be dealt with under the "factor's lien" law; it is now clear that all such personal property security devices are governed by Article 9. Yet many problems remain for the unwary lawyer. I will identify several and deal in detail with three of these …

Article One Of The Uniform Land Transactions Act: Is Inconsistency With The U.C.C. An Unnecessary Obstacle?, Ronald B. Brown

Faculty Scholarship

No abstract provided.

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 …

Current Developments Under Ucc - Article 9, Roy L. Steinheimer, Jr.

Legal Scholarship by Dean Steinheimer

No abstract provided.

Security Aspects Of The Abc Transaction, John T. Schmidt

Michigan Law Review

In recent years, investments in subterraneous oil and gas have become a common addition to the investment portfolios of national financial institutions. Relying on the assurances of reputable geological studies, traditionally conservative financers have invested amounts ranging up to several hundred million dollars against collateral once accepted only by speculators and a few adventurous oil-country bankers. The increased interest in these investments is in part attributable to the development of the ABC method of financing the purchase of producing oil and gas properties. This method offers unique tax advantages, which have been discussed elsewhere, but also creates problems for the …

The Corporate Mortgage Under Article 9 Of The Uniform Commercial Code And The New York Solution, George C. Coggins

Michigan Law Review

A corporate mortgage has been defined as "an indenture intended to convey property, real and personal, tangible and intangible, to a trustee for bondholders, as security for the bonds issued and to be issued thereunder" by a corporation. This financing device, utilized by many large corporate organizations, has grown to be of paramount importance in the field of corporate financing, and the lack of attention given by the Code to the long-term debts of corporations has raised serious questions of filing procedures. Discussion of the novel treatment accorded by New York to the problem of perfecting security interests in corporate …

Commercial Transactions And Personal Property--1963 Tennessee Survey, John A. Spanogle, Jr.

Vanderbilt Law Review

Obviously, the biggest event in the Tennessee law of commercial transactions this year was the enactment of the Uniform Commercial Code [hereinafter referred to as the U.C.C.]. That statute became effective in this state on July 1, 1964. Its effect on the prior Tennessee law is discussed in great detail elsewhere in this issue,' and need not be re-examined here. It should also be pointed out that the enactment of the U.C.C.required some modifications in the criminal statutes relating to security agreements. In particular, executing a second security agreement covering personalty, without disclosing a prior security agreement covering the same …

Uniform Commercial Code Article 9 Filing Procedures For Railroad, Utility, And Other Corporate Debtors: Some Suggestions, Daniel R. Elliott Jr.

Michigan Law Review

After a brief discussion of the provisions of Article 9 peculiarly applicable to the long-term mortgage, a portion of this comment will review the relevant statutes and case authority in force prior to the effective date of the Code in various states and still applicable in others. More specifically, it will examine the special treatment accorded certain types of corporate indentures, particularly those securing the debt of railroads and other public utilities. Second, an attempt will be made to explain the probable solutions to the problems raised by the filing requirements of Article 9 as promulgated in each jurisdiction and …

The Uniform Commercial Code And Real Estate Law: Problems For Both The Real Estate Lawyer And The Chattel Security Lawyer, Peter F. Coogan, Albert L. Clovis

Indiana Law Journal

No abstract provided.

Commercial Transactions And Personal Property -- 1962 Tennessee Survey, John A. Spanoale

Vanderbilt Law Review

The Code, and its repealer provisions, will not become effective in Tennessee until June 30, 1964. This delay gives the practicing attorney fifteen months to become familiar with its provisions. This amount of time will be needed for such education, for the Code is a very large and detailed piece of legislation, and little has been written comparing the present Tennessee law to the Code. It is not the purpose of this article to attempt to summarize the effect of the provisions of this legislation on the present Tennessee law, but only to give notice that it has been enacted …