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Articles 61 - 84 of 84
Full-Text Articles in Commercial Law
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
University of Richmond Law Review
This survey of commercial law discusses all Supreme Court of Virginia cases interpreting Virginia's version of the Uniform Commercial Code (the "Code") during the previous year, as well as statutory changes made to the Code in the most recent session of the General Assembly. It also reviews significant Code cases decided in the Virginia circuit courts and in the various federal courts sitting in Virginia. It is current as of about May 1, 1989.
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
University of Richmond Law Review
This survey of commercial law reviews all Virginia Supreme Court cases interpreting the Virginia Uniform Commercial Code (the "Code") and all statutory changes made to the Code in the 1988 session of the General Assembly. It also reviews significant Code cases decided in the various federal courts located in Virginia and in the Virginia circuit courts. It is current as of approximately May 1, 1988.
Basic Uniform Commercial Code: Teaching Materials, David G. Epstein
Basic Uniform Commercial Code: Teaching Materials, David G. Epstein
Law Faculty Publications
These materials cover extensions of credit secured by a lien on personal property, sales of goods, commercial paper, credit cards, electronic funds transfer systems, and letters of credit. Some aspects of these subjects are regulated by federal statutes; some aspects are covered only by judicial decisions. Notwithstanding the important body of federal law and common law, the Uniform Commercial Code dominates this book.
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
This article reviews case law and related developments during 1987, under articles 1, 2, 6, and 7 of the Uniform Commercial Code.
University Of Richmond Law Review
University Of Richmond Law Review
University of Richmond Law Review
No abstract provided.
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
University of Richmond Law Review
It has been a fairly busy year for Commercial Law in Virginia courts, but not in the legislature. This may not last; there are already legislative efforts underway to extend the coverage of Virginia's Uniform Commercial Code (the "Code") to electronic fund transfers and personal property leasing. If those efforts are successful, the General Assembly will soon have on its hands the considerable task of evaluating the first major overhaul of the Code in a decade.
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
The 1986 Annual Survey described the "check it back to local law" approach to the Code's choice of law rules. Recent cases emphasize this. For example, in Madaus v. November Hill Farm, lnc., the U.S. District Court for the Western District of Virginia applied the Virginia pre-Code conflict of laws rules to a dispute between a West German seller of a horse and a Virginia buyer. The court applied the Virginia rule that the law applicable to the validity of a contract is the law of the jurisdiction where the final act necessary to make the contract binding was done. …
Buyer Status Under The U.C.C: A Suggested Temporal Definition, David Frisch
Buyer Status Under The U.C.C: A Suggested Temporal Definition, David Frisch
Law Faculty Publications
This Article attempts two different but complementary tasks. First, it offers an answer to the "by no means academic question" asked above. In so doing, the Article considers Code rules that affect the buyer-seller relationship and those that impact on the interests of third parties. The conclusion reached is that buyer status occurs at the moment the purchaser obtains the remedial right to the goods vis-a-vis the seller. In most instances, therefore, buyer status will inevitably coincide with the moment the remedy of specific performance or, in some cases, replevin becomes available to the buyer. The Article's second purpose is …
Is Revision Due For Article 2?, David Frisch
Is Revision Due For Article 2?, David Frisch
Law Faculty Publications
Although we ask whether Article 2 should be re-examined, it is not our only question. A second question posed is: What are the sources to which one should look in order to discover whether there is a strong enough need to justify a revision? In addition to mentioning sources, we offer a few examples illustrative of the fruits which these sources can produce. By doing so, we hope to spur additional interest because, if discussion of a new Article 2 is to begin, the sooner it begins the better. Revisions take time. Six years can pass from the time a …
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
University of Richmond Law Review
It has been a quiet year in the Commonwealth of Virginia, at least in the area of commercial law. There have been only a smattering of cases, for the most part routine, and slight amendments to Virginia's Uniform Commercial Code (the "Code"). The most significant commercial law development occurred neither in the General Assembly nor the courts, but at the Federal Trade Commission, which is again busying itself with the regulation of consumer credit.
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
A drafting compromise by the U.C.C. drafters in section 1-105 dictated the state having an "appropriate relation" to govern choice of law problems in the absence of a contractual clause, and if there is a clause, a "reasonable relation" to the state selected. The purpose was to leave choice of law problems to the general rules of the common law. Thus, some courts in breach of warranty cases continue to apply the tests of "place of injury" for personal injury suits and "place of contracting" for what does not involve personal injury, while others look for the state having the …
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
U.C.C. Survey: General Provisions, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
As in the past, there were no significant developments or trends in the few decisions on conflict of laws points. The text of U.C.C. section 1-105, the Code's general choice-of-law provision, speaks comprehensively of "the transaction." Yet recent cases and a draft of the proposed Personal Property Leasing Act take an issue-oriented approach, thus giving the parties greater freedom to specify choice of law. Following the formulation in section 187 of the Restatement (Second) of the Conflict of Laws, the draft Leasing Act supports party choice in the absence of some significant forum policy that requires overriding that choice. In …
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
Annual Survey Of Virginia Law: Commercial Law, Michael J. Herbert
University of Richmond Law Review
During its 1984 and 1985 sessions, the General Assembly enacted a number of minor technical amendments to Virginia's Uniform Commercial Code. These included both the much-needed and long-awaited change of the word "state" to "Commonwealth" throughout the Code and a series of inexplicable revisions in the Code's punctuation. The most significant of these technical changes was undoubtedly the increase in the filing fees for Article 9 financing statements filed with the State Corporation Commission. (One substantial legislative change which indirectly affects the Code was the enactment of Virginia's new "Lemon Law." Some aspects of that statute are discussed below in …
U.C.C. Section 9-315: A Historical And Modern Perspective, David Frisch
U.C.C. Section 9-315: A Historical And Modern Perspective, David Frisch
Law Faculty Publications
Once an appreciation of section 9-315's intended breadth is triggered, however, troublesome questions arise regarding its application. Because these questions are not answered in section 9-315 itself, this section must be analyzed in light of its common law origins and the general policies of Article 9. Part I of this Article therefore examines the historical origins of section 9-315 through a discussion of the common law doctrines of accession, specification, and confusion-property doctrines firmly rooted in civil and common law that retain a surprising vitality under the Code. Part II explores the drafting history of section 9-315, noting trends in …
James Martin: Friend And Co-Author, David G. Epstein
James Martin: Friend And Co-Author, David G. Epstein
Law Faculty Publications
Jim Martin was a friend. Friends meant a lot to Jim. Being Jim's friend meant that at the end of your first week as a Visiting Assistant Professor at the University of Michigan Law School, Jim insisted that you come to his home for a gourmet dinner, even though it was below zero outside and Jim had never cooked anything more ambitious than microwave cuisine. Being Jim's friend meant that he pushed for your appointment to the Michigan law faculty, even though the appointment would probably result in your taking his commercial law courses. Being Jim's friend meant that he …
Uniform Commercial Code Annual Survey: General Provisions, Sales, Bulk Transfers, And Documents Of Title, David Frisch
Uniform Commercial Code Annual Survey: General Provisions, Sales, Bulk Transfers, And Documents Of Title, David Frisch
Law Faculty Publications
On a number of issues arising under the Uniform Commercial Code (U.C.C. or Code), the courts have reached conflicting results, yet the number of jurisdictions passing on each such issue remains small. There is still time, then, for discussion of proper solutions of many of such Code issues. Of interest is the continuing judicial struggle with the intermesh of the Code's warranty provisions, the strict liability provisions of the Restatement Second of Torts, section 402A, and the burgeoning new crop of products liability statutes. The trend toward nuclear and computer problems is reflected in cases involving construction of nuclear plants, …
The Priority Secured Party/Subordinate Lien Creditor Conflict: Is "Lien-Two" Out In The Cold?, David Frisch
The Priority Secured Party/Subordinate Lien Creditor Conflict: Is "Lien-Two" Out In The Cold?, David Frisch
Law Faculty Publications
The coexistence of secured and unsecured creditors leads inevitably to conflicts between the two. How these conflicts are resolved depends to a great extent on the context in which they arise. It is not the purpose of this Article to examine the ways in which these conflicting interests are handled in insolvency proceedings, whether common law or statutory. Instead, its focus will be on the clash which occurs when an unsecured creditor armed with a judgment attempts to satisfy that judgment by resort to property of the debtor which is already subject to a perfected security interest. Assuming the priority …
U.C.C. Filings: Changing Circumstances Can Make A Right Filing Wrong. But Can They Make A Wrong Filing Right?, David Frisch
U.C.C. Filings: Changing Circumstances Can Make A Right Filing Wrong. But Can They Make A Wrong Filing Right?, David Frisch
Law Faculty Publications
A secured party who wishes to perfect an Article 9 security interest by filing must file a proper financing statement in the correct office. If a security interest is perfected, changing circumstances, such as a lapse in time after a change in the location of the collateral, may transform the perfected security interest into an unperfected one. Consequently, the security interest, much to the dismay of the secured party, will be subject to all the deficiencies of an unperfected interest. But, under the Uniform Commercial Code, can the converse be true? That is, for example, can an unperfected security interest, …
The Perfect Tender Rule - An "Acceptable" Interpretation, David Frisch
The Perfect Tender Rule - An "Acceptable" Interpretation, David Frisch
Law Faculty Publications
The focus of this article will be on the inherent conflict between the buyer's right to reject and the seller's right to cure. We will first review both the scholarly commentary addressing the issue and the judicial interpretations of the rejection-cure conflict. We will then propose a resolution to the conflict, or an acceptable interpretation, which serves to promote the expressed purposes and policies of the Uniform Commercial Code.
Purchase Of Consumer Paper And Subjection To Collateral Forces, Benjamin Geva
Purchase Of Consumer Paper And Subjection To Collateral Forces, Benjamin Geva
University of Richmond Law Review
The purchase of commercial paper issued in return for consumer goods [hereinafter referred to as consumer paper] is a common and wide-spread sales financing practice. Various judicial techniques and legislative schemes have been employed to disqualify purchasers of consumer paper from becoming holders in due course [hereinafter referred to as HDC], thus rendering these purchasers subject to defenses to the instrument based upon consumer dissatisfaction with the goods. Underlying the denial of HDC sttus to purchasers of consumer paper are the following premises: (1) the sale of consumer goods is not a commercial transaction and should not be governed by …
Equal Credit Opportunity Act Amendments Of 1976, Judith B. Henry
Equal Credit Opportunity Act Amendments Of 1976, Judith B. Henry
University of Richmond Law Review
It would be difficult to exaggerate the role of credit in today's society. But for the availability of credit, it would be impossible for most Americans to obtain an education, purchase a car, own a home, or start a business. Because of the increasing popularity of credit cards, credit is relied on daily in consumer transactions. Yet a number of persons have been unable to obtain credit, not because of an inability to repay, but because of their membership in a particular class.
A Synopsis Of The Major Revisions To Article 9 Of The Uniform Commercial Code Adopted By Virginia, John W. Edmonds Iii
A Synopsis Of The Major Revisions To Article 9 Of The Uniform Commercial Code Adopted By Virginia, John W. Edmonds Iii
University of Richmond Law Review
When the Uniform Commercial Code became effective in Mississippi and South Carolina on January 1, 1968, it reached its goal of near uniform enactment. Maintaining this achievement of uniform adoption, however, has proven to be most difficult with regard to the Code's treatment of "secured transactions" in Article 9. In 1966, the Permanent Editorial Board 2 noted that there had been 337 non-uniform, non-official amendments to Article 9 of the Code. Accordingly, the Board established a Review Committee to restudy Article 9 in depth and report its findings. The study culminated in the Final Report of the Permanent Editorial Board …
Enforcing Security Interests In Consumer Goods: Some Notes On The Vicious Cycle, Richard E. Speidel
Enforcing Security Interests In Consumer Goods: Some Notes On The Vicious Cycle, Richard E. Speidel
University of Richmond Law Review
The Uniform Commercial Code (UCC), now effective everywhere except Louisiana, is conspicuously neutral on consumer protection issues, leaving these matters to other laws, if any, in the adopting state. In the past few years, considerable pressure for reform of the consumer credit transaction has been manifested. One example of proposed re- form is the Uniform Consumer Credit Code (UCCC), approved by the National Conference of Commissioners on Uniform State Laws and the American Bar Association, and recommended for adoption by the several states.
Uniform Commercial Code- Breach Of Warranty- Applicable Statute Of Limitations For Personal Injury
Uniform Commercial Code- Breach Of Warranty- Applicable Statute Of Limitations For Personal Injury
University of Richmond Law Review
Statutes of limitation are statutes of repose, the object of which is to compel the exercise of a right of action within a reasonable time. They are designed to suppress fraudulent and stale claims from being asserted after a great lapse of time, to the surprise of the parties, when the evidence may have been lost, the facts may have become obscure because of defective memory, or the witnesses have died or dis- appeared.