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Full-Text Articles in Law
Secured Lending, Ken L. Lott, Robert G. Myers
Secured Lending, Ken L. Lott, Robert G. Myers
Mercer Law Review
This article makes an attempt to reduce the broad and diverse subject matter of secured lending into some of its simplest common denominators and, from these, to develop some practical guidelines that can be applied to most secured transactions. The following topic will be discussed at some length: loans secured by inventory, accounts receivable, and stocks, bonds and similar collateral. Loans secured by cash value of life insurance, petroleum, ship mortgages and aircraft will be discussed briefly.
The Description Of Collateral In Security Agreements And Financing Statements, Joseph J. Beard
The Description Of Collateral In Security Agreements And Financing Statements, Joseph J. Beard
Mercer Law Review
Perhaps the Bard of Avon was correct in his assertion that misdescription of a rose dims its fragrance not one whit; but a misdescription in a security agreement or financing statement may have the most profound consequences, mostly unpleasant, for the "secured" party. The purpose of this article is to explore what constitutes an adequate description of collateral under the Uniform Commercial Code and the judicial decisions interpreting the description requirements of the Code. The discussion is organized by type of collateral as defined in Article 9: inventory, accounts receivable, equipment and consumer goods, as well as an all-encompassing discussion …
Seller Vs. Secured Party: Searching For An Intangible Something, Allen R. Kamp, Ronald L. Solove
Seller Vs. Secured Party: Searching For An Intangible Something, Allen R. Kamp, Ronald L. Solove
Mercer Law Review
This article will discuss the resolution of conflicting claims to goods between an unsecured seller of goods and a creditor of a buyer claiming under an after-acquired property clause. The problem is complicated by the lack of a coherent relationship among the rules of the Uniform Commercial Code' relevant to the problem. The U.C.C. has abandoned the concept of title in personal property,2 but has failed to replace the concept with a comprehensive system that can definitively and convincingly resolve controversies arising out of conflicting claims.
Seller Alone Is Liable For Failure To Make 'Credit-Sale' Disclosures, Douglas W. Smith
Seller Alone Is Liable For Failure To Make 'Credit-Sale' Disclosures, Douglas W. Smith
Mercer Law Review
In Manning v. Princeton Consumer Discount Co., the U.S. Court of Appeals for the Third Circuit held that in a credit sale, only the dealer is responsible for making the required credit sale disclosures, even though both a finance company and an automobile dealer are creditors under the Truth in Lending Act.
The Status Of A Creditor As A 'Controlling Person', Joseph W. Bartlett, Philip S. Lapatin
The Status Of A Creditor As A 'Controlling Person', Joseph W. Bartlett, Philip S. Lapatin
Mercer Law Review
The growing ingenuity of plaintiffs' counsel in security regulation matters and the current legal trend toward redistributing the burden of loss to those best able to absorb it have together reopened the frontiers of legal liability and introduced much uncertainty to areas which were once securely governed by the individualistic philosophy of the early common law. One of the liveliest and most troublesome questions to appear in this regard concerns the obligations of a creditor to protect the public from his debtor's misconduct. The nature of this problem can usefully be illustrated by the following hypothetical situation:'
The Creditor, The Debtor And The Fourteenth Amendment, Elwin Griffith
The Creditor, The Debtor And The Fourteenth Amendment, Elwin Griffith
Mercer Law Review
There has been much commentary on the rights and liabilities arising out of the debtor-creditor relationship. Much of that discussion has centered on the constitutional issues related to the use of such remedies as garnishment, attachment, replevin and repossession. The controversial issue in repossession has been the propriety and constitutionality of the self-help provision of §9-503 of the Uniform Commercial Code. These remedies have provoked discussion when creditors have used them without giving notice and a hearing to debtors.