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Banking and Finance Law

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Articles 601 - 630 of 732

Full-Text Articles in Commercial Law

Verification Institutions In Financing Transactions, Ronald J. Mann Jan 1999

Verification Institutions In Financing Transactions, Ronald J. Mann

Faculty Scholarship

One of the most common problems in commercial transactions is the resolution of information asymmetries, situations in which one party to the transaction knows more about a relevant fact than the other party. The natural response of the disadvantaged party is to attempt to investigate the transaction for itself – to investigate the matter with "due diligence" – but often such an investigation will be expensive and, however diligently undertaken, leave the truth of the matter uncertain. A law-centered approach to the problem would call for the development of warranties and covenants that the party with superior information would give …

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Debt Instruments' Tax Treatment In Corporate Mergers And Acquisitions, Tae Oon Jang Jan 1998

Debt Instruments' Tax Treatment In Corporate Mergers And Acquisitions, Tae Oon Jang

LLM Theses and Essays

The increase of merger and acquisition(M&A) activity since 1992 has resulted mainly from a domestic economic recovery. The current M&A trend shows that M&A is still an important means of enhancing many corporations' competitive power and of stimulating growth in such areas as computer software and services, wholesale and distribution, miscellaneous services, banking and finance, and leisure and entertainment. Fundraising for mezzanine-fund financing, which reflects investors' foresight about current and future M&A trends, has also seen rapid growth. After the Tax Reform Act of 1986 and the repeal of the General Utilities doctrine, the elimination of the capital gain preference …

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Commercial And Banking Law, Robert A. Weber Jr. Dec 1997

Commercial And Banking Law, Robert A. Weber Jr.

Mercer Law Review

Last year's article limited its coverage to cases interpreting provisions of Georgia's Commercial Code. Although the courts have provided ample material to again dedicate the entire survey to that topic, to do so would ignore other substantive bodies of law that have had a significant impact on a commercial law practice. Therefore, in addition to a review of the standard Commercial Code topics (sales, negotiable instruments and bank collections, and secured transactions), this year's survey has endeavored to summarize case law and legislative enactments within the past year in the following categories: banking and finance, consumer protection, contracts of employment, …

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Putting The Cards Before The Purse: Distinctions, Differences, And Dilemmas In The Regulation Of Stored Value Card Systems, Walter Effross Jan 1997

Putting The Cards Before The Purse: Distinctions, Differences, And Dilemmas In The Regulation Of Stored Value Card Systems, Walter Effross

Scholarly Articles in Law Reviews & Journals

No abstract provided.

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Article 5 - Recent Developments, James J. White Jan 1997

Article 5 - Recent Developments, James J. White

Other Publications

I. Mitigation in Letter of Credit Transactions Assume a Buyer has procured a letter of credit to pay for contracted goods but no longer wants the goods. The Buyer and the Issuer would like to force the Beneficiary to mitigate. Assume that both the Issuer and Applicant repudiate their obligation or that the Applicant has failed and the Issuer repudiates its obligation to pay under the letter of credit. At the moment of repudiation the price for a gallon of the underlying oil that is the subject of the letter of credit is $.75 and that the letter of credit …

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Searching For Negotiability In Payment And Credit Systems, Ronald J. Mann Jan 1997

Searching For Negotiability In Payment And Credit Systems, Ronald J. Mann

Faculty Scholarship

The casual observer of the legal academy would assume that negotiability is a legal principle of foundational importance to our nation's payment and credit systems. All of the obvious indicators support that assumption. Among other things, the 1980s witnessed a major effort by the American Law Institute and the National Conference of Commissioners on Uniform State Laws to update and revise the relevant provisions of the Uniform Commercial Code. Similarly, negotiability continues to occupy a safe position in law school curricula, as prominent academics at our most elite schools continue to write casebooks focusing on negotiability. Most recently, for example, …

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The Role Of Secured Credit In Small-Business Lending, Ronald J. Mann Jan 1997

The Role Of Secured Credit In Small-Business Lending, Ronald J. Mann

Faculty Scholarship

The traditional perspective holds that large firms in our economy use unsecured credit and small firms use secured credit. Existing scholarship, however, has provided little explanation of that pattern. In a recent article, I attributed the use of unsecured credit by large firms to the limited capacity of secured credit to lower the lending costs of creditworthy companies. This article uses data from a dozen interviews with small-business bankers to explain the small-business half of that lending pattern. To the extent smallbusiness lenders require secured credit, they do so largely for one significant benefit: secured credit allows small-business lenders to …

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International Payments And Five Foundations Of Wire-Transfer Law, Raj Bhala Jan 1996

International Payments And Five Foundations Of Wire-Transfer Law, Raj Bhala

Faculty Publications

No abstract provided.

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Letters Of Credit: Highlights Of Revised Article 5, Edwin E. Smith, James J. White Jan 1996

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?

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A Call For International Legal Standards For Emerging Retail Electronic Payment Systems, Sarah Jane Hughes Jan 1996

A Call For International Legal Standards For Emerging Retail Electronic Payment Systems, Sarah Jane Hughes

Articles by Maurer Faculty

No abstract provided.

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Directorial Fiduciary Duties In A Tracking Stock Equity Structure: The Need For A Duty Of Fairness, Jeffrey J. Haas Jan 1996

Directorial Fiduciary Duties In A Tracking Stock Equity Structure: The Need For A Duty Of Fairness, Jeffrey J. Haas

Articles & Chapters

No abstract provided.

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Arbitration Of Disputes Between Consumers And Financial Institutions: A Serious Threat To Consumer Protection, Mark E. Budnitz Jan 1995

Arbitration Of Disputes Between Consumers And Financial Institutions: A Serious Threat To Consumer Protection, Mark E. Budnitz

Faculty Publications By Year

No abstract provided.

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Notification Of Documentary Discrepancies In Letter Of Credit Transactions, Hong Liu Jan 1995

Notification Of Documentary Discrepancies In Letter Of Credit Transactions, Hong Liu

LLM Theses and Essays

The objective of the thesis is to examine only one aspect of the legal relationship between an issuer and a beneficiary, i.e., an issuer’s duties regarding notifying a beneficiary of documentary discrepancies in the letter of credit transactions. To lay down a theoretical foundation, the basic principle of the letter of credit law and policy considerations for this legal obligation will be explored in the thesis. In Chapter II, the relevant provisions of the U.C.C and U.C.P. will be examined and compared. Chapter III will focus on how the courts interpret and apply the U.C.C and U.C.P. in the cases …

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Adopting Article Iv: Can Consumers Afford To Rely On The Banks' Good Faith?, Robert A. Fricks Dec 1994

Adopting Article Iv: Can Consumers Afford To Rely On The Banks' Good Faith?, Robert A. Fricks

Mercer Law Review

In 1990 the National Conference of Commissioners on Uniform State Laws and the American Law Institute approved comprehensive changes to Articles 3 and 4 of the Uniform Commercial Code ("U.C.C."). These changes will greatly impact consumer transactions and alter the relationship between banks and their customers. As of December 1994, thirty-six states had adopted the revised Articles. While most states adopted them as written, some have made changes which provide the consumer with greater protection. The Georgia General Assembly will soon address the issue of whether to adopt the new Articles. At issue is whether the revisions warrant added consumer …

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Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher Jan 1994

Check Fraud Litigation In Connecticut After The 1990 Revisions To The U.C.C., Timothy Fisher

Faculty Articles and Papers

No abstract provided.

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Article 5: Highlights Of The Proposed Revision, James J. White Jan 1994

Article 5: Highlights Of The Proposed Revision, James J. White

Other Publications

I. The Current Status of Article 5: Drafting, Approval and Promulgation--The Most Significant Changes or Clarifications -- II. The Most Contentious Issues in the Revision of Article 5 -- III. More Subtle Questions About Revised Article 5

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Developments In Trading Claims: Participations And Disputed Claims, Chaim J. Fortgang, Thomas Moers Mayer Dec 1993

Developments In Trading Claims: Participations And Disputed Claims, Chaim J. Fortgang, Thomas Moers Mayer

Cardozo Law Review

The two years since our last paper on trading claims' have seen an explosion in the market for claims against Chapter 11 debtors. More institutions are involved in buying, selling, and brokering claims than ever before. Goldman, Sachs & Company, Salomon Brothers Inc., Lazard Freres & Company, Inc., and Kidder Peabody & Company have joined Oppenheimer & Company, and Bear, Stearns & Company as established Wall Street houses making markets in distressed claims. Commercial banks such as First National Bank of Chicago, ING Bank, and Citibank, N.A. now buy and sell bank claims against distressed debtors.

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Aviation Law And Regulation: Abridged Student Edition, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms Jan 1993

Aviation Law And Regulation: Abridged Student Edition, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms

Sturm College of Law: Faculty Scholarship

We sought to write a comprehensive reference book for aviation lawyers and practitioners, and airline and aircraft manufactuing executives in need of vital information regarding law and government regulation in the field of commercial and general aviation. We envision this book as an aid for the neophyte and experienced practitioner alike.

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Bank Holding Company Act: Has It Lived Its Life, The , Carl Felsenfeld Jan 1993

Bank Holding Company Act: Has It Lived Its Life, The , Carl Felsenfeld

Faculty Scholarship

The Bank Holding Company Act of 1956 (BHCA) "regulates the acquisition of state and national banks by bank holding companies." The BHCA also regulates the nonbanking activities of bank holding companies and their nonbank subsidiaries. The BHCA was enacted and remains on the books for two fundamental reasons: 1) to prevent undue concentration in banking; and 2) to avoid the mixing of banking with other businesses unrelated to banking (generally called "commerce"). Both of these purposes have been or are being discredited, and it is time to ask whether the BHCA should be repealed. On several levels, banking is combined …

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Comparative Negligence Under The Code: Protecting Negligent Banks Against Negligent Customers, Julianna J. Zekan Oct 1992

Comparative Negligence Under The Code: Protecting Negligent Banks Against Negligent Customers, Julianna J. Zekan

University of Michigan Journal of Law Reform

This Article will examine modern banking practices with respect to processing checks and the effect of technology on liability for forged or altered checks. Part I describes the magnetic ink character-recognition system. Part II discusses check truncation. Part III recounts the evolution of contract and tort theories of liability from traditional to modern bank practices. Part IV analyzes the new comparative negligence provisions. Part V investigates the standards of ordinary care. Part VI evaluates the respective duties of the banks and their customers in light of the provisions that reflect the banking industry's transformation from the Paper Age to the …

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Allocation Of Loss Due To Fraudulent Wholesale Wire Transfers: Is There A Negligence Action Against A Beneficiary's Bank After Article 4a Of The Uniform Commercial Code?, Robert M. Lewis Aug 1992

Allocation Of Loss Due To Fraudulent Wholesale Wire Transfers: Is There A Negligence Action Against A Beneficiary's Bank After Article 4a Of The Uniform Commercial Code?, Robert M. Lewis

Michigan Law Review

This Note argues that where a bank reasonably should have known of a fraud but still pays out a wire transfer to an unauthorized recipient, common law negligence should provide a basis for recovery despite the absence of an explicit Code provision imposing liability on the bank. Part I examines the UCC's language itself and analyzes possible cases, under 4A and under articles 3 and 4 by analogy, and discusses the applicability of these other parts of the UCC to wire transfers. Part II examines how extra-Code regulatory systems and the common law would determine wire transfer liability. Part II …

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Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms Jan 1992

Aviation Law And Regulation, Robert M. Hardaway, Paul Stephen Dempsey, William E. Thoms

Sturm College of Law: Faculty Scholarship

We sought to write a comprehensive reference book for aviation lawyers and practitioners, and airline and aircraft manufactuing executives in need of vital information regarding law and government regulation in the field of commercial and general aviation. We envision this book as an aid for the neophyte and experienced practitioner alike.

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1991 Revisions To Articles 3 And 4 Of The Uniform Commercial Code, Timothy Fisher Jan 1992

1991 Revisions To Articles 3 And 4 Of The Uniform Commercial Code, Timothy Fisher

Faculty Articles and Papers

No abstract provided.

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Debt-Equity Conversions, Debt-For-Nature Swaps, And The Continuing World Debt Crisis, Daniel H. Cole Jan 1992

Debt-Equity Conversions, Debt-For-Nature Swaps, And The Continuing World Debt Crisis, Daniel H. Cole

Articles by Maurer Faculty

No abstract provided.

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Airport Regulation, Law, And Public Policy: The Management And Growth Of Infrastructure, Robert M. Hardaway Jan 1991

Airport Regulation, Law, And Public Policy: The Management And Growth Of Infrastructure, Robert M. Hardaway

Sturm College of Law: Faculty Scholarship

Drawing on both the expertise of professionals in the field and a grounding in law and public policy, this book examines the laws governing airport development and addresses the complex regulatory and policy issues surrounding the construction, expansion and operation of airports.

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Effectuating The Customer's Right To Stop Payment Of A Check: The Forgotten Section 4-401, D. Benjamin Beard Jan 1991

Effectuating The Customer's Right To Stop Payment Of A Check: The Forgotten Section 4-401, D. Benjamin Beard

Articles

No abstract provided.

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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 Jan 1990

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.") …

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The Consequences Of Bulk In Our Banking Diet: Bulk Filing Of Checks And The Bank's Duty Of Ordinary Care Under The 1990 Revision To The Uniform Commercial Code When It Honors Forged Checks, Mark E. Budnitz Jan 1990

The Consequences Of Bulk In Our Banking Diet: Bulk Filing Of Checks And The Bank's Duty Of Ordinary Care Under The 1990 Revision To The Uniform Commercial Code When It Honors Forged Checks, Mark E. Budnitz

Faculty Publications By Year

No abstract provided.

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Goldstein's Curse, James J. White Jan 1990

Goldstein's Curse, James J. White

Articles

ON April 16, 1980, a man using the name Marvin Goldstein opened a bank account at a Baltimore branch of Union Trust Company. He deposited $15,000 in cash. He told the branch manager that he planned to establish a Baltimore office of his father's New York business, "Goldstein's Precious Metals and Stones." Goldstein identified himself with a New Jersey driver's license and gave a bank reference from New York. On May 6, Goldstein deposited a check for $880,000 at another Union Trust branch near the branch where he had opened the account. Words on this check indicated that it was …

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The Malformed Mouse Meets The Libr: Secured And Restitutionary Claims To Commingled Funds, Harold R. Weinberg Jan 1989

The Malformed Mouse Meets The Libr: Secured And Restitutionary Claims To Commingled Funds, Harold R. Weinberg

Law Faculty Scholarly Articles

The "malformed mouse" is section 9-306(4)(d) of the Uniform Commercial Code. It provides a formula that determines the extent to which an insolvent debtor's commingled bank account contains funds subject to a security interest. A special entitlement is necessary because it is impossible to physically distinguish this collateral after commingling. The label malformed mouse is appropriate if one agrees with critics who have questioned the mouse's statutory architecture and underlying rationale. The image of an elusive creature is also apt. The mouse continues to elude understanding, although it has been part of the Code for many years and the subject …

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