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But The Proposed Uniform Commercial Code Was Adopted Is The Ucc Dead, Or Alive And Well, Carl Felsenfeld
But The Proposed Uniform Commercial Code Was Adopted Is The Ucc Dead, Or Alive And Well, Carl Felsenfeld
Faculty Scholarship
The oldest living resident may recognize that the title above is de- rived from an article written by Professor Frederick K. Beutel of the Yale Law School, which appeared in the 1952 Yale Law Journal. Professor Beutel began his article by stating that the UCC should not be adopted and concluded by advising that it would "mark the beginning of the end of fairness and uniformity in the commercial law." Beutel's advice was not taken, and, with relatively modest modifications, the UCC has been adopted in all states. This Essay investigates whether Professor Beutel's concerns were justified.
Strange Bedfellows For Electronic Funds Transfers: Proposed Article 4a Of The Uniform Commercial Code And The Uncitral Model Law Symposium: Revised U.C.C. Articles 3 &(And) 4 And New Article 4a, Carl Felsenfeld
Faculty Scholarship
Two pieces of proposed legislation that will affect the same subject matter are proceeding down parallel tracks. If all goes as planned, the tracks will at some time turn inward and there may be a collision. Each piece has as its core concern the subject of electronic funds transfers ("EFTs"), the modern device that has overtaken checks as the principal form of money transfer.' Basically, however, before the promulgation of Article 4A there was no legislation, either in the United States or abroad, that governed EFTs in the way that Articles 3 and 4 of the Uniform Commercial Code ("U.C.C.") …
Knowledge As A Factor In Determinig Priorities Under The Uniform Commercial Code , Carl Felsenfeld
Knowledge As A Factor In Determinig Priorities Under The Uniform Commercial Code , Carl Felsenfeld
Faculty Scholarship
Before the Uniform Commercial Code, a second secured party could not perfect his interest over a prior unperfected interest if he had knowledge of that prior interest. The Code, in contrast, promulgates a basic "first-to-file" priority rule in section 9-312(5). In this sharp departure from prior law, the knowledge factor is omitted. Other sections of Article 9, however, allude to certain aspects of the pre-Code knowledge requirements. Mr. Felsenfeld analyses the difficulties and incongruities which may arise from this lack of explicitness with regard to knowledge of prior security interests. He concludes that the courts may and should reconcile such …