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Perfection

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Articles 1 - 17 of 17

Full-Text Articles in Law

Secured Transactions Law Reform In Japan: Japan Business Credit Project Assessment Of Interviews And Tentative Policy Proposals, Megumi Hara, Kumiko Koens, Charles W. Mooney Jr. Jan 2022

Secured Transactions Law Reform In Japan: Japan Business Credit Project Assessment Of Interviews And Tentative Policy Proposals, Megumi Hara, Kumiko Koens, Charles W. Mooney Jr.

All Faculty Scholarship

This article summarizes key findings from the Japan Business Credit Project (JBCP), which involved more than 30 semi-structured interviews conducted in Japan from 2016 through 2018. It was inspired by important and previously unexplored questions concerning secured financing of movables (business equipment and inventory) and claims (receivables)—“asset-based lending” or “ABL.” Why is the use of ABL in Japan so limited? What are the principal obstacles and disincentives to the use of ABL in Japan? The interviews were primarily with staff of banks, but also included those of government officials and regulators, academics, and law practitioners. The article proposes reforms of …


Notice: Aircraft Lien Law In Florida, Timothy M. Ravich Jul 2021

Notice: Aircraft Lien Law In Florida, Timothy M. Ravich

University of Miami Law Review

Establishing (e.g., perfecting) and enforcing a lien presents technical pitfalls and practical problems with which practitioners and courts are often unfamiliar or uncomfortable. After all, the law of liens requires an understanding of many different areas of the law, including the law of contract, bailment, unjust enrichment, and customary law. But among the most fraught with uncertainty are mechanic’s liens, which establish a right in favor of persons—“artisans”—performing or furnishing labor, services, fuel, or material upon personal property. Florida’s mechanic’s lien statute raises particularly challenging legal issues as applied to aircraft.
In Florida, the perfection and enforcement of a mechanic’s …


Reflections On Jewish And American Disability Law And On The God Who Makes All Things Good, Randy Lee Jan 2020

Reflections On Jewish And American Disability Law And On The God Who Makes All Things Good, Randy Lee

Touro Law Review

No abstract provided.


Waste Mgmt. Of Nev., Inc. V. W. Taylor Street, Llc., 135 Nev. Adv. Op. 21 (Jun. 27, 2019), Trisha Delos Santos Sep 2019

Waste Mgmt. Of Nev., Inc. V. W. Taylor Street, Llc., 135 Nev. Adv. Op. 21 (Jun. 27, 2019), Trisha Delos Santos

Nevada Supreme Court Summaries

The Court determined that (1) the district court properly determined that garbage liens are perpetual; (2) that the district court erred in applying the lien perfection requirements contained in NRS 108.226; and (3) erred in applying the two-year statute of limitations contained in NRS 11.190(4)(b) to the foreclosure of those liens under NRS 444.520.Therefore, a garbage lien is not subject to a statute of limitations and a municipal waste management company may foreclose upon such a lien under NRS 444.520(4).


The Perfection And Priority Rules For Security Interests In Copyrights, Patents, And Trademarks: The Current Structural Dissonance And Proposed Legislative Cures, Thomas M. Ward Feb 2018

The Perfection And Priority Rules For Security Interests In Copyrights, Patents, And Trademarks: The Current Structural Dissonance And Proposed Legislative Cures, Thomas M. Ward

Maine Law Review

The structural legal dissonance that undermines the effective financing of federal intellectual property rights (patents, trademarks registrations, copyrights, and maskworks) is rooted in the prominence of title in both the early conceptual history of personal property financing and in the language of the federal tract recording acts. While genuine ownership transfers have always represented the prototype under the federal intellectual property recording statutes, transfers intended for security were also originally included because of the early judicial thinking about the importance of title to the validity (against third parties) of a “mortgage” right in intangible personal property. As products of their …


Security Interests In Book-Entry Securities In Japan: Should Japanese Law Embrace Perfection By Control Agreement And Security Interests In Securities Accounts?, Kumiko Koens, Charles W. Mooney Jr. Jan 2017

Security Interests In Book-Entry Securities In Japan: Should Japanese Law Embrace Perfection By Control Agreement And Security Interests In Securities Accounts?, Kumiko Koens, Charles W. Mooney Jr.

All Faculty Scholarship

The paper proposes two significant modifications of Japan’s Act on Transfer of Bonds, Shares, etc. (BETA). First, it suggests the control agreement method of transferring an interest in securities that is effective against third parties. Under the BETA, the creation of an effective interest in book-entry securities requires book entries in the securities accounts of the transferor and the transferee. Under the control agreement approach, the transferor, transferee, and the transferor’s securities intermediary would agree that (i) the intermediary would act on the instructions of the transferee with respect to securities credited to the transferor’s securities account or (ii) the …


Choice-Of-Law Rules For Secured Transactions: An Interest-Based And Modern Principles-Based Framework For Assessment, Charles W. Mooney Jr. Jan 2017

Choice-Of-Law Rules For Secured Transactions: An Interest-Based And Modern Principles-Based Framework For Assessment, Charles W. Mooney Jr.

All Faculty Scholarship

This essay examines the law applicable to secured transactions. It addresses in particular the codification of the choice-of-law rules for secured transactions (STCOL rules). These rules address the laws applicable to the creation, perfection, priority, and enforcement of security interests (security rights)—a form of legislative or statutory dépeçage. It draws on the 2016 UNCITRAL Model Law on Secured Transactions (Model Law) as well as relevant North American law (Uniform Commercial Code Article 9 and the Canadian provincial Personal Property Security Acts). The STCOL rules lie at the heart of the emerged and emerging modern principles of secured transactions law …


Evolution Of Chattel Paper: From Possession To Control, Thomas E. Plank Sep 2014

Evolution Of Chattel Paper: From Possession To Control, Thomas E. Plank

Scholarly Works

Since its inception, Article 9 has authorized both non-possessory assignment of chattel paper perfected by the filing of a financing statement and a possessory assignment perfected by possession. As a result, tangible chattel paper is “quasi-negotiable” because certain purchasers for value with possession can have priority over previously perfected secured parties. The 2000 revision of Article 9 authorized security agreements evidenced by an electronic record or records and created electronic chattel paper as a new sub-type of collateral. To extend quasi-negotiability to electronic chattel paper, it also introduced the concept of “control” as an analogue to possession of tangible chattel …


The Who And What Of Possession Under Article 9 Of The Uniform Commercial Code, Alan J. Wilson Jan 2013

The Who And What Of Possession Under Article 9 Of The Uniform Commercial Code, Alan J. Wilson

Alan J Wilson

The Uniform Commercial Code (“U.C.C.”) is a uniform body of law governing commercial transactions in the states that have adopted its various provisions. Article 9 of the U.C.C. (“Article 9”) governs secured transactions involving personal property as collateral. In a secured sales or loan transaction, a credit seller or lender is focused on acquiring a form of collateral as protection against default. In a secured transaction, the buyer or borrower, called a “debtor,” agrees to give the credit seller or lender, called a “secured party,” a security interest in property of the debtor and can also perfect that interest. Perfection …


Optimizing English And American Security Interests, Lynn M. Lopucki, Arvin I. Abraham, Bernd P. Delahaye Jan 2013

Optimizing English And American Security Interests, Lynn M. Lopucki, Arvin I. Abraham, Bernd P. Delahaye

UF Law Faculty Publications

Since the adoption of Uniform Commercial Code Article 9 in American jurisdictions in the 1960s, scholars have debated the desirability of the extraordinary priority given to secured creditors. Through a point-by-point comparison of English and American security interests, this article provides a new perspective on that long-running debate. The comparison reveals that security functions in strikingly similar manners in the two jurisdictions, while differing sharply in one crucial respect. In contrast to the absolute priority given secured creditors under American law, English law subordinates floating charges to administrative expenses, preferential creditors, and a prescribed share for unsecured creditors. Other, less …


Eastphalia As The Perfection Of Westphalia, Tom Ginsburg Jan 2010

Eastphalia As The Perfection Of Westphalia, Tom Ginsburg

Indiana Journal of Global Legal Studies

Eastphalia Emerging?: Asia, International Law, and Global Governance, Symposium. Indiana University Maurer School of Law, Bloomington, Indiana, 2009


Money, Money Everywhere But Not A Drop To Secure: A Proposal To Amend The Perfection Rule For Security Interests In Money And Deposit Accounts, Brian M. Mccall Jan 2007

Money, Money Everywhere But Not A Drop To Secure: A Proposal To Amend The Perfection Rule For Security Interests In Money And Deposit Accounts, Brian M. Mccall

Brian M McCall

It is time that the billions of dollars of money and bank account balances held by debtors be made available as security in a manner that is commercially practical. The rules governing the perfection of security interests in money and deposit accounts need to be reformed to allow perfection by filing. This article builds a case for the proposed revisions by addressing the vexing question “what is money.” A brief history, especially drawing upon the history of the UCC, of answers to this question is presented. Various policy rationales are explored including an examination of the different forms of payment …


Oil And Gas Liens & Foreclosures--A Multi-State Perspective, Terry I. Cross, Jason T. Barnes Jan 1998

Oil And Gas Liens & Foreclosures--A Multi-State Perspective, Terry I. Cross, Jason T. Barnes

Oklahoma Law Review

No abstract provided.


Preference Conundrums, James J. White, Daniel Israel Jan 1993

Preference Conundrums, James J. White, Daniel Israel

Articles

Every law teacher and many law students and practitioners understand the intellectual sport to be found in Section 547 on preference law. Because the preference rules are so intricate, rigorously logical-but really not logical-they command more than their fair attention, not only in law school but also in continuing legal education and even in the courts. Our purpose in this article is not to answer any of the difficult questions or to give a global explanation of preference law. Rather it is to confront a few of the conundrums in Section 547 and to follow the paths of those conundrums …


Revising Article 9 To Reduce Wasteful Litigation, James J. White Jan 1993

Revising Article 9 To Reduce Wasteful Litigation, James J. White

Articles

For reasons that are unclear to me, the committees reviewing the articles of the Uniform Commercial Code and drafting revisions are congenitally conservative. Perhaps these committees take their charge too seriously, namely, to revise, not to revolutionize. Perhaps their intimate knowledge of the subject matter exaggerates the importance of each section and consequently magnifies the apparent size of every change. In any case, my own experience with two such committees tells me that the members quickly become focused on revisions and amendments that any outsider would describe as modest. To the extent that the revision of any of the articles …


Clear Title For Farm Products: Congress And The Arkansas Legislature Attempt To Solve A Troublesome Problem, D. Fenton Adams Oct 1987

Clear Title For Farm Products: Congress And The Arkansas Legislature Attempt To Solve A Troublesome Problem, D. Fenton Adams

University of Arkansas at Little Rock Law Review

No abstract provided.


Conflicting Perfected Security Interests In Proceeds Under Article 9 Of The Uniform Commercial Code, Michigan Law Review Jan 1968

Conflicting Perfected Security Interests In Proceeds Under Article 9 Of The Uniform Commercial Code, Michigan Law Review

Michigan Law Review

Section 9-306 gives the inventory financer a "continuously perfected" security interest in the proceeds of the inventory if the security interest in the original collateral was perfected. "Proceeds" is defined as including "whatever is received when collateral or proceeds is sold, exchanged, collected or otherwise disposed of." Thus, the inventory financer may have a security interest in the proceeds of the original collateral or the proceeds of the proceeds. The security interest in the proceeds may be perfected in either of two ways: (1) under section 9-306(3)(a) the security interest is perfected by filing a financing statement that expressly covers …