Open Access. Powered by Scholars. Published by Universities.®

Law Commons

Open Access. Powered by Scholars. Published by Universities.®

Articles 1 - 19 of 19

Full-Text Articles in Law

Bankruptcy Law And Inefficient Entitlements, Irit Haviv-Segal Oct 2004

Bankruptcy Law And Inefficient Entitlements, Irit Haviv-Segal

ExpressO

The question as to the justification of bankruptcy law remains unanswered. The literature tends to emphasize the conflict and inability to compromise between the different normative outlooks of the insolvency law system. A deeper reflection on the existing theories of bankruptcy law reveals, however, that all theories share the same starting point: All theories share the understanding that efficiency considerations justify the enforcement of contractual bankruptcy arrangements. When the social theories call for increased levels of coercion and redistribution, these theories rely on normative considerations of distributive justice and rehabilitation values. They by no means rely on efficiency grounds. This …


The End Of Notice: Secrets And Liens In Commercial Finance Law, Jonathan C. Lipson Aug 2004

The End Of Notice: Secrets And Liens In Commercial Finance Law, Jonathan C. Lipson

ExpressO

This article explores important recent changes in the way that we treat personal property in commercial finance transactions. Among other things, these changes reduce or eliminate the obligation to give notice of interests in personal property when it is used in commercial finance transactions (as, e.g., collateral for a loan).

A principal purpose of notice-filing has been to deter the creation of secret liens, interests in property that are neither recorded nor otherwise readily observable. Secret liens are universally castigated as abhorrent.

Yet, two recent sets of legislative developments suggest that we may care much less about the problem of …


Panelist, Law And Society Association Annual Meeting, Chicago, Ill., Bruce Price May 2004

Panelist, Law And Society Association Annual Meeting, Chicago, Ill., Bruce Price

Bruce M Price

No abstract provided.


Secrets And Liens: Verification And Measurement In Commercial Finance Law, Jonathan C. Lipson Apr 2004

Secrets And Liens: Verification And Measurement In Commercial Finance Law, Jonathan C. Lipson

ExpressO

This article argues that commercial finance law increasingly uses contract rules to displace property rules, especially as these rules pertain to verifying and measuring property interests. In this context, verification simply means confirming the existence of a property interest, such as a lien or security interest. Measurement means determining the relationships of various property interests to one another (i.e., the priority of interests).

Historically, commercial finance law – in particular the Uniform Commercial Code, which governs loans secured by personal property – provided that something would be treated as “property” only if its property character was fairly easy to discover. …


The Reliance Interest In Insolvency Law: A Response To Harris And Mooney, Edward J. Janger Apr 2004

The Reliance Interest In Insolvency Law: A Response To Harris And Mooney, Edward J. Janger

Faculty Scholarship

No abstract provided.


The Death Of Secured Lending, Edward J. Janger Apr 2004

The Death Of Secured Lending, Edward J. Janger

Faculty Scholarship

No abstract provided.


Presenter, "How Green Was My Valley: An Examination Of Tournament Theory As A Governance Mechanism In Silicon Valley Law Firms," New York University Tenth Anniversary Celebration Of Institute For Law And Society, Bruce Price Feb 2004

Presenter, "How Green Was My Valley: An Examination Of Tournament Theory As A Governance Mechanism In Silicon Valley Law Firms," New York University Tenth Anniversary Celebration Of Institute For Law And Society, Bruce Price

Bruce M Price

No abstract provided.


Collateralizing Internet Privacy, Xuan-Thao Nguyen Jan 2004

Collateralizing Internet Privacy, Xuan-Thao Nguyen

Articles

Collateralizing privacy is a pervasive conduct committed by many on-line companies. Yet most don't even realize that they are engaging in collateralizing privacy. Worse yet, governmental agencies and consumer groups are not even aware of the violation of on-line consumer privacy by the collateralization of privacy. Professor Nguyen argues that collateralizing privacy occurs under the existing privacy regime and the architecture of article 9 of the Uniform Commercial Code. Professor Nguyen critiques the violation of privacy through collateralization dilemmas and proposes a solution involving modifications of the contents of the financing statement and security agreement in secured transactions where consumer …


Chuck And Steve's Peccadillo (Symposium: Threats To Secured Lending And Asset Securitization), James J. White Jan 2004

Chuck And Steve's Peccadillo (Symposium: Threats To Secured Lending And Asset Securitization), James J. White

Articles

Are investors in securitized receivables to be treated as the owners of an asset whose sale has taken it beyond the reach of the trustee in bankruptcy of their sellers? O are they to be treated as holders of a security interest in the transferred asset who have left behind an interest in the sellers' hands that would cause the asset to be subject to claims and interference by the sellers' grasping trustee? By adopting contrasting-arguably conflicting-statements in two subsections of a single section, the drafters of 1999 Article 9 have thrust this issue in the faces of courts and …


203 N. Lasalle Five Years Later: Answers To The Open Questions, 38 J. Marshall L. Rev. 61 (2004), Paul B. Lewis Jan 2004

203 N. Lasalle Five Years Later: Answers To The Open Questions, 38 J. Marshall L. Rev. 61 (2004), Paul B. Lewis

UIC Law Review

No abstract provided.


Creditors' Rights Risk: A Title Insurer's Perspective, 38 J. Marshall L. Rev. 223 (2004), Paul L. Hammann, John C. Murray Jan 2004

Creditors' Rights Risk: A Title Insurer's Perspective, 38 J. Marshall L. Rev. 223 (2004), Paul L. Hammann, John C. Murray

UIC Law Review

No abstract provided.


Secured Transactions History: The Impact Of Southern Staple Agriculture On The First Chattel Mortgage Acts In The Anglo-American World, George Lee Flint Jr, Marie Juliet Alfaro Jan 2004

Secured Transactions History: The Impact Of Southern Staple Agriculture On The First Chattel Mortgage Acts In The Anglo-American World, George Lee Flint Jr, Marie Juliet Alfaro

Faculty Articles

The development of secured transaction law in colonial America was spurred by a litigious conflict between the recognizance and the chattel mortgage. The recognizance was the admission and recording of a debt before the court in order to secure credit. However, court hearings were infrequent in the colonies and often logistically impractical to the average farmer or merchant. The chattel mortgage was a more informal and practical solution to providing lines of credit on personal property. Without a system for recording chattel mortgages, lenders could not be sure in their investments.

In the southern colonies, the emergence of staple crops, …


Unregisterred Securities In The National Football League: Can The Securities Act Of 1933 Protect Season Ticket Holders And Personal Seat License Holders, Mark Levengood Jan 2004

Unregisterred Securities In The National Football League: Can The Securities Act Of 1933 Protect Season Ticket Holders And Personal Seat License Holders, Mark Levengood

Jeffrey S. Moorad Sports Law Journal

No abstract provided.


Remembering Pine Gate, 38 J. Marshall L. Rev. 5 (2004), Douglas G. Baird Jan 2004

Remembering Pine Gate, 38 J. Marshall L. Rev. 5 (2004), Douglas G. Baird

UIC Law Review

No abstract provided.


Treatment Of Real Property Liens In Bankruptcy Cases, 38 J. Marshall L. Rev. 171 (2004), Gerald F. Munitz Jan 2004

Treatment Of Real Property Liens In Bankruptcy Cases, 38 J. Marshall L. Rev. 171 (2004), Gerald F. Munitz

UIC Law Review

No abstract provided.


The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, Steven L. Harris, Charles W. Mooney Jr. Jan 2004

The Unfortunate Life And Merciful Death Of The Avoidance Powers Under Section 103 Of The Durbin-Delahunt Bill: What Were They Thinking?, Steven L. Harris, Charles W. Mooney Jr.

All Faculty Scholarship

No abstract provided.


Searching For Federal Tax Liens: The Typical Search For Ucc Financing Statements May Not Be Good Enough, Dennis H. Long Jan 2004

Searching For Federal Tax Liens: The Typical Search For Ucc Financing Statements May Not Be Good Enough, Dennis H. Long

Articles by Maurer Faculty

No abstract provided.


Secured Transactions History: The First Chattel Mortgage Acts In The Anglo-American World, George Lee Flint Jr, Marie Juliet Alfaro Jan 2004

Secured Transactions History: The First Chattel Mortgage Acts In The Anglo-American World, George Lee Flint Jr, Marie Juliet Alfaro

Faculty Articles

The chattel mortgage acts first arose in the southern mainland English-American colony of Virginia in 1643. Other colonies followed suit over the next 100 years. The function of the earliest chattel mortgage acts was not to legalize the transaction, but to declare it void if not registered, or to provide a priority rule favoring the registered transaction. Legislatures did not pass these colonial chattel mortgage acts to legalize an otherwise fraudulent transaction because reported cases indicate that the common law upheld the nonpossessory secured transaction prior to the passage of the earliest act in the southern states.

The Northeastern States’ …


Death And Resurrection Of Secured Credit, James J. White Jan 2004

Death And Resurrection Of Secured Credit, James J. White

Articles

The Bankruptcy Reform Act of 1978 (the Code) posed palpable threats to secured creditors. It was drafted by a commission that was at least as concerned with the rights of debtors as with the rights of creditors. It was modified and adopted by a Congress that might have been the most liberal since World War II and signed into law by President Carter at the apogee of the left's power, two years before the Reagan election that marked the rise of the right and the beginning of the left's decline. The power of the left was exerted most forcefully on …