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Memorializing The Meal: An Analogical Exercise For Transactional Drafting, William E. Foster, Emily Grant
Memorializing The Meal: An Analogical Exercise For Transactional Drafting, William E. Foster, Emily Grant
William E Foster
The legal academy is increasingly focused on producing practice-ready lawyers. For transactional practice, that notion requires that attorneys have the flexibility, creativity, and business acumen to draft documents that anticipate contingencies and accomplish clients’ goals. Effective lawyers are able to structure their clients’ affairs to provide a balance of flexibility for, and protection against, the predictably unexpected. To further this goal, this article incorporates pedagogical theory to introduce a classroom exercise that focuses on creativity and contingency planning in the transactional drafting context. It does so by introducing that process in a nonlegal context, specifically by having students plan a …
The Commonplace Meets The Marketplace Accessible Analogies For Transactional Drafting, William E. Foster
The Commonplace Meets The Marketplace Accessible Analogies For Transactional Drafting, William E. Foster
William E Foster
Our presentation at Emory Law’s Fourth Biennial Conference, Educating the Transactional Lawyer of Tomorrow, was based on an article we co-wrote that has been published in the University of Hawaii Law Review: 36 U. Haw. L. Rev. 403 (2014). The article describes a classroom exercise for a transactional drafting course. Before we get to the exercise itself, we want to explain our thought process in putting together this exercise, about the utility of the exercise, and about how it fits into the larger context of preparing our students to practice in transactional settings.
As we were preparing the class exercise …
Muddying The Waterfall: How Ambiguous Liability Statutes Distort Creditor Priority In Condominium Foreclosures, Andrea Boyack, William E. Foster
Muddying The Waterfall: How Ambiguous Liability Statutes Distort Creditor Priority In Condominium Foreclosures, Andrea Boyack, William E. Foster
William E Foster
Intentionally or not, every state’s law regarding lien priority and post-foreclosure liability allocates risk between mortgage lenders and privately governed “common interest communities” (CICs), such as condominiums. When lenders secure their interests with mortgages on property within a CIC, the mortgages may compete against the CIC’s interests for primacy in the lien hierarchy. Modern state regimes typically delineate the respective rights of mortgagees and CIC associations according to lien-priority statutes. Older condominium-enabling statutes, however, do not address CIC lien priority directly and speak only to continuing joint and several liability for subsequent purchasers. These older and more ambiguous statutes do …