Law Commons^™

Legislature Mulls Change Of Article 8, Francis J. Facciolo

Faculty Publications

(Excerpt)

A major revision of Article 8 of the Uniform Commercial Code was passed by the New York Assembly on July 2, 1996, but did not receive Senate consideration prior to adjustment. In light of the strong support given Proposed Article 8 by the banking and securities industries, the New York State Legislature will probably give serious consideration to passage when the next legislative session begins.

Although the supporters of Proposed Article 8 have stoutly maintained that it is primarily a clarification of the existing Article 8 and that the proposed changes are insignificant, the proposal actually includes major changes …

An Arkansas Practitioner's Guide To Perfecting Security Interests In Securities, Brokerage Accounts, And Other Forms Of Investment Property Under Revised Article 8 And Amended Article 9, Everette L. Martin

University of Arkansas at Little Rock Law Review

No abstract provided.

Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White

Other Publications

1. Under what circumstances is it bad faith for an issuer to honor a letter of credit in the face of an applicant's offer of proof of fraud by the beneficiary? 2. What is the issuer's obligation where there is a waiver by the applicant that the issue chooses not to honor? 3. What are the rights of transferees of transferable letters of credit and assigness of proceeds?

Accommodating Spouses: Regulation B And Revised Article 3-The Suretyship Law Complication, Sarah Howard Jenkins

Faculty Scholarship

No abstract provided.

The Revision Of Ucc Article 2, Sales In Light Of The United Nations Convention On Contracts For The International Sale Of Goods, Richard E. Speidel

Northwestern Journal of International Law & Business

This article discusses UCC, Article 2, in light of CISG, and discusses how they create bands of uniformity in their respective spheres. It also discusses where they overlap.

Influence Of International Practice On The Revision Of Article 5 Of The Ucc, James J. White

Northwestern Journal of International Law & Business

I focus today on the influence of the Uniform Customs and Practice1 (UCP) on the revision of Article 5 of the Uniform Commercial Code (UCC).

Internationalization Of Revised Ucc Article 5--Letters Of Credit, James G. Barnes

Northwestern Journal of International Law & Business

The 1995 revision of Article 5 of the Uniform Commercial Code (UCC) was heavily influenced by international practice as reflected in the Uniform Customs and Practice for Documentary Credits (UCP). The Reporter for Revised UCC Article 5, Professor James J. White," acknowledges the heavy influence of international practice, views it as a mixed blessing, and attributes it to the focused efforts of the letter of credit bankers' trade association, the United States Council on Inter- national Banking, Inc. (USCIB). This article further explains and welcomes the internationalization of Revised UCC Article 5.

The Intersection Of Articles 2 And 9, Steven L. Harris, James J. White

Other Publications

I. Standard Form Contracts II. Buyer in Ordinary Course; Prepaying Buyer III. Consignments IV. Seller's Right to Reclaim Delivered Goods

Rights Of Subrogation In Letters Of Credit Transactions, James J. White

Articles

The past twenty years have seen more than a dozen cases, in which parties to letter of credit transactions have sought subrogation to the rights of the person they have paid or to the rights of the persons on behalf of whom, they have acted.' The most obvious case arises when the issuer of a standby letter of credit pays a beneficiary on a debt that is owed to the beneficiary by a bankrupt applicant. Having failed to take 'collateral from the applicant, the issuer seeks to be subrogated to the security interest of the beneficiary. Failing subrogation, the issuer …