Law Commons^™

Debtor's Defense To A Deficiency Judgment Under Ucc , Gail Clifford Hutton

Pepperdine Law Review

No abstract provided.

Clashing Policies Or Confusing Precedents: The "Gross Negligence" Exception To Consequential Damages Disclaimers, Michael Pillow

William & Mary Business Law Review

Consequential damages can easily amount to millions of dollars. Commercial parties often disclaim consequential damages in their contracts. This Article posits that such disclaimers between commercial parties under the Uniform Commercial Code (UCC) should not be found unenforceable based on gross negligence. Article 2 of the UCC promotes the policy of freedom of contract. Consistent with that policy, section 2-719 of the UCC provides that contractual consequential damages disclaimers should be enforceable absent a finding of unconscionability. This Article analyzes the interplay among UCC section 2-719, “public policy” exceptions to enforcing limitations of liability, and the law of gross negligence. …

Level Up: Employing The Commerce Clause To Federalize The Sale Of Goods, Jennifer Camero

San Diego Law Review

This Article argues that rather than wait until the defects become insurmountable, we should act now to address the defects in the law of sales and enact a federal sales act to supplant Article 2 using congressional power under the Commerce Clause. Part II details the defects of Article 2 that are in need of repair, which include creating inconsistent results across the states, failing to adapt to changing trends in our modern commercial environment, and utilizing a private drafting process that fails to balance the competing interests of businesses and consumers. Part II then demonstrates that the current uniform …

Rebalancing Public And Private In The Law Of Mortgage Transfer, John Patrick Hunt, Richard; Stanton, Nancy Wallace

American University Law Review

No abstract provided.

Deepening Confidence In The Application Of Cisg To The Sales Agreements Between The United States And Japanese Companies, Yoshimochi Taniguchi

Richmond Journal of Global Law & Business

Parties to contracts between U.S. and Japanese companies usually agree to exclude the application of the United Nations Convention on Contracts for the International Sale of Goods (“CISG”) from the sales agreement due to concerns about how the CISG will be interpreted and/or incompatibility with U.S. or Japanese law or both. In this paper, the author will suggest that the more countries amend their laws in accordance with CISG standards and the more national courts develop a unified interpretation of the CISG, the more the CISG will represent harmonized law, and as such, contracting parties should not exclude it.

This …

A Guide To The Model Tribal Secured Transactions Act For Those Familiar With The Uniform Commercial Code, Elaine A. Welle

American Indian Law Review

No abstract provided.

Redefining Offer In Contract Law, Daniel P. O'Gorman

Faculty Scholarship

No abstract provided.

Fifty: Shades Of Grey--Uncertainty About Extrinsic Evidence And Parol Evidence After All These Ucc Years, David G. Epstein

Law Faculty Publications

Lawyers and judges have been working with the Uniform Commercial Code for about fifty years. Most states adopted the Uniform Commercial Code between 1960 and 1965.

Notwithstanding these years of experience and the importance of certainty to parties entering into commercial transactions, there is still considerable confusion over the use of extrinsic evidence, parol evidence and the parol evidence rule in answering the questions (1) what are the terms of a contract for the sale of goods and (2) what do those contract terms mean. No "black and white rules"-just various "shades of grey."

This essay explores the reasons for …

Turnover Actions And The “Floating Check” Controversy, David R. Hague

Faculty Articles

When a debtor files for Chapter 7 bankruptcy, a Chapter 7 trustee is appointed and is charged with collecting and reducing to money the property of the bankruptcy estate. One of the most basic collection methods a trustee possesses is its turnover power under § 542(a) of the Bankruptcy Code. Pursuant to § 542(a), an entity in possession, custody, or control, during the bankruptcy case, of property that the trustee may use, sell, or lease, must deliver to the trustee, and account for, such property or the value of such property.

An interesting issue has arisen that is placing debtors …

Mezzanine Debt And Preferred Equity In Real Estate, Andrew R. Berman

Articles & Chapters

No abstract provided.

A North Carolina Preview Of The Revised (1990) Article 3 Of The Uniform Commercial Code, Charles C. Lewis

Charles C. Lewis

As its title suggests, this article is intended merely as a preview of revised Article 3. It will begin with some overall comments about revised Article 3, specifically about the extent and significance of the revision. It then will discuss specific examples from revised Article 3 to illustrate how the revision affects present Article 3 and how it furthers the goals of the NCCUSL and the ALI. It will also include references to present North Carolina case law or statutory law that may be affected by the revision. If this preview conveys to the BAR at least a taste of …

The Omnibus Clause Of U.C.C. Section 4-303(1)(D): A Holder's Sword Or A Payor's Shield?, Charles C. Lewis

Charles C. Lewis

In the years after the promulgation of the 1952 official text, particularly as the New York Law Revision Commission studied it, and as more and more states either studied the Code for enactment or actually enacted it during the late 1950's and early 1960's, law professors, practicing attorneys and bank attorneys commented on each provision of it. Section 4-303(1)(d) and its omnibus clause did not escape this scrutiny. Many of the commentators, however, did no more than describe the purpose of section 4-303's priority rules, point out that section 4-213(1)(c), a remarkably similar section in the Code, did not contain …

An Ind. Run Around The U.C.C.: The Use (Or Abuse?) Of Indemnity, Paul J. Wilkinson

Pepperdine Law Review

No abstract provided.

An Analysis Of Warranty Claims Instituted By Non-Privity Plaintiffs In Jurisdictions That Have Adopted Uniform Commercial Code Section 2-318 (Alternative A), William L. Stallworth

Pepperdine Law Review

No abstract provided.

Sale Of Goods Contract Not To Be Performed Within A Year: Is The Uniform Commercial Code Statute Of Frauds Provision Exclusive?, Sidney Kwestel

Sidney Kwestel

No abstract provided.

Warranting Rightful Claims, Karen E. Sandrik

Louisiana Law Review

No abstract provided.

The Uniform Commercial Code Survey: Introduction, Russell Hakes, Stephen Friedman, Jennifer Martin

Russell A. Hakes

No abstract provided.

The Uniform Commercial Code Survey: Introduction, Stephen E. Friedman, Russell Hakes, Jennifer S. Martin

Stephen E Friedman

No abstract provided.

Standard Search Logic Under Article 9 And The Florida Debacle, Kenneth C. Kettering

University of Miami Law Review

No abstract provided.

Sale Of Goods Contract Not To Be Performed Within A Year: Is The Uniform Commercial Code Statute Of Frauds Provision Exclusive?, Sidney Kwestel

Scholarly Works

No abstract provided.

The Limits Of Limiting Liability In The Battle Of The Forms: U.C.C. Section 2-207 And The "Material Alteration" Inquiry, Colin P. Marks

Pepperdine Law Review

No abstract provided.

Twenty Questions About An Individual Debtor's Name Under Amended Article 9 Section 9-503(A)(4) Alternative A, Richard H. Nowka

William & Mary Business Law Review

This Article answers questions created by the financing statement requirements for sufficiency of the name of an individual debtor under the amendments to Uniform Commercial Code Article 9—Secured Transactions. An individual debtor in a security interest transaction could be known by various names: birth certificate name, driver’s license name, passport name, or nickname. Revised Article 9 provides no guidance on what name is the correct name of the debtor for entry on the financing statement, and a financing statement that does not provide the correct name of the debtor does not perfect the security interest. To resolve this problem, the …

Ucc And Me In Process, Ingrid Michelsen Hillinger

Ingrid Michelsen Hillinger

No abstract provided.

Unrevised Section 2-207--Different Terms Revisited, Sidney Kwestel

Sidney Kwestel

No abstract provided.

Express Warranty Of Fitness For A Particular Purpose: Extent Of Overlap In Same Factual Context With Implied Warranty Of Fitness For A Particular Purpose, Sidney Kwestel

Sidney Kwestel

No abstract provided.

Late Delivery--Measure Of Damages, Sidney Kwestel

Sidney Kwestel

No abstract provided.

A Fundamental Flaw With Uncitral's Approach To Cross-Border Secured Transactions: The Failure To Address Creditor Due Diligence Issues, John J. Chung

Law Faculty Scholarship

No abstract provided.

Liberty Over Death: Seeking Due Process Dimensions For Freedom Of Contract, Michael Pillow

Florida A & M University Law Review

No abstract provided.

International Sale Of Goods 2011, Gregory M. Duhl

Faculty Scholarship

In 2011, U.S. courts analyzed the scope, formation, and remedies provisions of the United Nations Convention on Contracts for the International Sale of Goods (“CISG”). Although the number of cases arising under the CISG is relatively small compared with those under the Uniform Commercial Code (U.C.C.), the cases discussed in this survey remind us that U.S. courts are comfortable in applying the CISG. A comprehensive survey setting forth legal developments in the United States during the past nine years involving the CISG follows the Uniform Commercial Code Survey in this issue of The Business Lawyer. That survey illustrates that the …

The Statutory Ucc: Interpretative License And Duty Under Article 2, Nicholas J. Johnson

Catholic University Law Review

No abstract provided.