Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 2 of 2
Full-Text Articles in Law
Property And The True-Sale Doctrine, Heather Hughes
Property And The True-Sale Doctrine, Heather Hughes
Articles in Law Reviews & Other Academic Journals
The true-sale doctrine governs financial transactions involving hundreds of billions of dollars each year. Yet this doctrine is confused, unsettled and subject to differing approaches from state to state: it lacks normative foundation and it lacks coherence. The true-sale doctrine determines the fate of investors asserting ownership of securitized assets at the expense of unsecured creditors, such as employees. It distinguishes assignments to secure loans (leaving assets potentially reachable by unsecured creditors), from outright sales (making assets the exclusive property of investors). A rich literature addresses the efficiency of securitization. But scholars and policy-makers have failed to sufficiently relate positions …
Non-Party Interests In Closing Opinion Letters, Heather Hughes
Non-Party Interests In Closing Opinion Letters, Heather Hughes
Articles in Law Reviews & Other Academic Journals
INTRODUCTION: What do transactional lawyers do when they issue third-party opinion letters in financial transactions? This descriptive question turns out to be quite complex'-so complex that the normative question of what lawyers should do when they issue opinions, as well as the practical question of what they could do, are difficult to answer. This Symposium Article reflects upon third-party closing opinions as a central aspect of business law practice that can be opaque to outsiders. The ideas expressed here are exploratory. In the spirit of reflecting on what transactional lawyers do, this contribution considers deal lawyer strategies as potential tools …