Contracting In The Age Of The Internet Of Things: Article 2 Of The Ucc And Beyond,
2016
New York Law School
Contracting In The Age Of The Internet Of Things: Article 2 Of The Ucc And Beyond, Stacy-Ann Elvy
Articles & Chapters
This Article analyzes the global phenomenon of the Internet of Things (“IOT”) and its potential impact on consumer contracts for the sale of goods. Recent examples of IOT products include Amazon’s Dash Replenishment Service, which allows household devices to automatically reorder goods. By 2025, the IOT is estimated to have an economic impact of as much as $11.1 trillion. To date, there are approximately fifteen billion interconnected devices, and by 2020, there will be fifty billion such devices worldwide. IOT devices will revolutionize the way that consumers shop for consumable supplies and other goods. Consumers will no longer need to …
The Imperfect State Of Patent Perfection,
2016
The University of Akron
The Imperfect State Of Patent Perfection, Yongae Jun
Akron Intellectual Property Journal
The state of the law regarding perfection of security interests in patents is uncertain. Attorneys advise their clients to record with both the state and the federal registration systems in order to perfect their security interests. Moreover, the Supreme Court missed its opportunity to clarify the ambiguity when it denied certiorari to Cybernetic Services. This comment will attempt to make sense of this area of the law and formulate an opinion as to what the law should be. Part II of this comment will interpret Section 261 through textual analysis, canons of construction, and legislative history. Part III will explore …
Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin,
2016
Seattle University School of Law
Bringing Continuity To Cryptocurrency: Commercial Law As A Guide To The Asset Categorization Of Bitcoin, Evan Hewitt
Seattle University Law Review
This Note will undertake to analyze bitcoin under the Uniform Commercial Code (UCC) and the Internal Revenue Code (IRC)—two important sources of commercial law—to see whether any existing asset categories adequately protect bitcoin’s commercial viability. This Note will demonstrate that although commercial law dictates that bitcoin should—nay must—be regulated as a currency in order to sustain its existence, the very definition of currency seems to preclude that from happening. Therefore, this Note will recommend that we experiment with a new type of asset that receives currency-like treatment, specifically designed for cryptocurrencies, under which bitcoin can be categorized in order to …
Surviving The Borrower: Assumption, Modification, And Access To Mortgage Information After A Death Or Divorce,
2016
Pepperdine University
Surviving The Borrower: Assumption, Modification, And Access To Mortgage Information After A Death Or Divorce, Sarah Bolling Mancini, Alys Cohen
Pepperdine Law Review
The death of a borrower too often brings the surviving spouse or other heirs to the brink of foreclosure. Transfer of the marital home to a non-borrower spouse through divorce may lead to the same problems. Mortgage servicers tell these successor homeowners that because they are not the borrower on the loan, they are not entitled to any information about the mortgage secured by their home and cannot apply for a loan modification, even if they are struggling with the payments. In fact, successors have a right to information, the right to assume liability for the loan, and the right …
The Business Of Art Theft: Assessing Auction House Standard Of Care And The Sale Of Stolen Cultural Property,
2016
American University Washington College of Law
The Business Of Art Theft: Assessing Auction House Standard Of Care And The Sale Of Stolen Cultural Property, Alexandra M.S. Wilson
American University Business Law Review
No abstract provided.
Friends With Benefits: Analyzing The Implications Of United States V. Newman For The Future Of Insider Trading,
2016
American University Washington College of Law
Friends With Benefits: Analyzing The Implications Of United States V. Newman For The Future Of Insider Trading, Tebsy Paul
American University Business Law Review
No abstract provided.
Broker-Dealer Law Reform: Financial Intermediaries In A State Of Limbo,
2016
Brooklyn Law School
Broker-Dealer Law Reform: Financial Intermediaries In A State Of Limbo, Alexander R. Tiktin
Brooklyn Law Review
No abstract provided.
The Hierarchy Of Priority, 9 J. Bus. Entrepreneurship & L. 153 (2016),
2016
John Marshall Law School
The Hierarchy Of Priority, 9 J. Bus. Entrepreneurship & L. 153 (2016), Paul T. Wangerin
UIC Law Open Access Faculty Scholarship
Because “priorities” are such an important and difficult issue in Article 9 of the Uniform Commercial Code (“UCC”), most commentators use what might be called an individualized or seriatim approach to priorities. For example, most commentators start by describing the rules of priorities for individual kinds of properties or for individual kinds of transactions. Then the commentators move on to second kinds of properties or transactions and describe the priorities for them, and then to a third, etc. However, because the priority rules are so difficult, the individualized or seriatim approach to discussions of priorities often generates confusion or a …
An Historical Overview Of Ucc Article 9,
2016
Southern Methodist University, Dedman School of Law
An Historical Overview Of Ucc Article 9, Peter Winship
Faculty Journal Articles and Book Chapters
This book chapter traces the history of Article 9 (Secured Transactions) of the U.S. Uniform Commercial Code. After setting out the pre-1940 legal setting in the United States for the use of movable property in secured transactions, the chapter studies three stages in the evolution of Article 9: (1) the drafting of the first “official” text (1947-1951), (2) the continuing revision of the text and its slow adoption by states (1952-1990), and (3) the thorough-going revision that lead to the present 1998 official text and subsequent minor amendments (1990-present). The chapter notes the growing complexity of the text and the …
International Secured Transactions,
2016
Southern Methodist University
International Secured Transactions, Arnold S. Rosenberg, Judith Elkin, Gordon Geiser, Christian Kohler-Ma
The International Lawyer
No abstract provided.
The Value Of Uncertainty,
2015
Northwestern Pritzker School of Law
The Value Of Uncertainty, Cathy Hwang, Benjamin P. Edwards
Northwestern University Law Review
In recent years, federal courts have heard, without clear subject matter jurisdiction, contract disputes involving billions of dollars worth of securitized financial instruments (SFIs). These SFI disputes are litigated in federal court under the federal interpleader statute, which specifies that a federal court has subject matter jurisdiction over these cases only when parties deposit the disputed amount with the court. SFI litigants have ignored this requirement, so courts have, at best, uncertain jurisdiction over these cases. Why have no parties raised the jurisdictional defect, even though some would stand to gain from raising it? This Essay advances game theoretical explanations …
Constitutional Law And Secured Transactions: State Action V. Private Action - Uniform Commercial Code Self-Help; Repossession Provisions - Do Not Violate Due Process Requirements; Adams V. Southern California First National Bank,
2015
The University of Akron
Constitutional Law And Secured Transactions: State Action V. Private Action - Uniform Commercial Code Self-Help; Repossession Provisions - Do Not Violate Due Process Requirements; Adams V. Southern California First National Bank, David M. Hunter
Akron Law Review
Several years ago, the United States Supreme Court, in Sniadach v. Family Finance Corp.,' signaled what has been eventually interpreted in subsequent decisions as the strict measurement of creditors' rights against the requirements of due process set forth in the fourteenth amendment. What has since transpired has been an onslaught of litigation in this area of such magnitude that the due process requirements of prior notice and hearing found in Sniadach have been extended to virtually all forms of prejudgment remedies available to the aggrieved creditor. Despite all of this, the rationale of the Court of Appeals for the Ninth …
In Re Montierth, 131 Nev. Adv. Op. 55,
2015
Nevada Law Journal
In Re Montierth, 131 Nev. Adv. Op. 55, Walter Fick
Nevada Supreme Court Summaries
The Court held that the separation of a promissory note, held by a principal, and the deed of trust, held by an agent of the principal, does not render either instrument “void,” or require the reunification of the note and the deed of trust in order to foreclose. The Court further held that, under Nevada law and in the case of a contractual principal-agent relationship, the recordation of an assignment of a deed of trust is a “ministerial act.”
Plan Sponsor Fiduciary Duty For The Selection Of Options In Participant-Directed Defined Contribution Plans And The Choice Between Stable Value And Money Market,
2015
The University of Akron
Plan Sponsor Fiduciary Duty For The Selection Of Options In Participant-Directed Defined Contribution Plans And The Choice Between Stable Value And Money Market, Paul J. Donahue
Akron Law Review
This Article is divided into two parts. In Part I, this Article summarizes the scope of a Plan Sponsor’s fiduciary duty under ERISA and explains why that fiduciary duty extends to the selection of investment options for Participant-directed DC Plans (i.e., 404(c) Plans). In this context, the Article will then examine some of the safe harbor provisions applicable to 404(c) Plans, including the requirement that such Plans offer a low-risk-investment alternative and the requirement that such Plans provide adequate disclosure to Plan Participants about each investment alternative. In Part II, this Article will apply the law explicated in Part I …
The Art Of A Loan: “When The Loan Sharks Meet Damien Hirst’S ‘$12-Million Stuffed Shark’”,
2015
Chicago Stock Exchange
The Art Of A Loan: “When The Loan Sharks Meet Damien Hirst’S ‘$12-Million Stuffed Shark’”, Valerie Medelyan
Pace Law Review
Part I of this Article introduces the reader to the typical types of loans that banks make, includes an in-depth description of a secured loan, and finishes with a discussion of the due diligence requirements of banks. Part II identifies the unique complexities posed by art when it is used as collateral, comparing and contrasting the banks’ process when approving a loan secured by commonly-used assets versus a loan secured by art. Part III discusses the banks’ growing willingness to approve art-backed loans, and identifies the safeguards built into such deals. Part IV introduces the sub-prime lenders of the art …
Credit Rating Agency Review Board: The Challenges And Implications Of Implementing The Franken-Wicker Amendment To Dodd-Frank,
2015
Pepperdine University
Credit Rating Agency Review Board: The Challenges And Implications Of Implementing The Franken-Wicker Amendment To Dodd-Frank, Christopher R. Dyess
The Journal of Business, Entrepreneurship & the Law
The purpose of this paper is to analyze, critically review, and determine whether a hypothetical credit rating agency board, as suggested in the Franken-Wicker Amendment to the Dodd-Frank Act, is a viable option for combating the conflict of interest problem between credit rating agencies and issuers. Research methodology includes a careful review of various ways to structure the board and the potential unintended consequences of doing so. The Author uses original research hand-collected from video of the Credit Ratings Roundtable conducted in Washington D.C. on May 14, 2013. The Credit Ratings Roundtable brought together experts from the credit rating industry …
A Sea Change In Creditor Priorities,
2015
Loyola University New Orleans College of Law
A Sea Change In Creditor Priorities, Kristen Van De Biezenbos
University of Michigan Journal of Law Reform
This Article argues that the operation of maritime law undermines a primary justification for creditor priorities under U.S. law. Under current law, when a debtor becomes insolvent, its secured creditors will be paid the full amount of their debt to the extent of their security interest, even if that leaves nothing to pay unsecured creditors. This is controversial with respect to involuntary unsecured creditors, particularly those with tort claims against the debtor. Defenders of this scheme of priorities have argued that allowing greater priority to involuntary creditors would hinder the availability or increase the cost of credit. However, involuntary creditors …
An Fda For Financial Innovation: Applying The Insurable Interest Doctrine To Twenty-First-Century Financial Markets,
2015
Northwestern Pritzker School of Law
An Fda For Financial Innovation: Applying The Insurable Interest Doctrine To Twenty-First-Century Financial Markets, Eric A. Posner, E. Glen Weyl
Northwestern University Law Review
The financial crisis of 2008 was caused in part by speculative investment in complex derivatives. In enacting the Dodd–Frank Act, Congress sought to address the problem of speculative investment, but it merely transferred that authority to various agencies, which have not yet found a solution. We propose that when firms invent new financial products, they be forbidden to sell them until they receive approval from a government agency designed along the lines of the FDA, which screens pharmaceutical innovations. The agency would approve financial products if they satisfy a test for social utility that focuses on whether the product will …
Balance And Team Production,
2015
Seattle University School of Law
Balance And Team Production, Kelli A. Alces
Seattle University Law Review
For decades, those holding the shareholder primacy view that the purpose of a corporation is to earn a profit for its shareholders have been debating with those who believe that corporations exist to serve broader societal interests. Adolph Berle and Merrick Dodd began the conversation over eighty years ago, and it continues today, with voices at various places along a spectrum of possible corporate purposes participating. Unfortunately, over time, the various sides of the debate have begun to talk past each other rather than engage with each other and have lost sight of whatever common ground they may be able …
The Boundaries Of "Team" Production Of Corporate Governance,
2015
Seattle University School of Law
The Boundaries Of "Team" Production Of Corporate Governance, Anthony J. Casey, M. Todd Henderson
Seattle University Law Review
We examine the cooperative production of corporate governance. We explain that this production does not occur exclusively within a “team” or “firm.” Rather, several aspects of corporate governance are quintessentially market products. Like Blair and Stout, we view the shareholder as but one of many stakeholders in a corporation. Where we depart from their analysis is in our view of the boundaries of a firm. We suggest that they overweight the intrafirm production of control. Focusing on the primacy of a board of directors, Blair and Stout posit a hierarchical team that governs the economic enterprise. We observe, however, that …
