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Security Aspects Of The Abc Transaction, John T. Schmidt
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 Irregular Issuance Of Warehouse Receipts And Article Seven Of The Uniform Commercial Code, Douglass G. Boshkoff
The Irregular Issuance Of Warehouse Receipts And Article Seven Of The Uniform Commercial Code, Douglass G. Boshkoff
Michigan Law Review
The draftsmen of Article Seven were well aware of the problems caused by irregular issuance of warehouse receipts and there will be fewer problems of irregularity under the Code for two reasons. First, the Code's formal requirements for issuance of warehouse receipts are less stringent than are those imposed by the UWRA, thereby lessening the chances of any irregularity occurring. Second, the Code contains two sections which aim to minimize the consequences of any irregularities which may occur. In this article I will discuss the types of defects that have been troublesome over the years, focussing on the ways in …