2014 Commercial Law Developments,  Prepared by the Commercial Transactions Committee for the Business Law Section 2014 Annual Report
Table of Contents

April 2015

  • Steven O. Weise, Proskauer Rose LLP, Los Angeles, California
  • Teresa Wilton Harmon, Sidley Austin LLP, Chicago, Illinois
  • John F. Hilson, UCLA School of Law, Los Angeles, California
  • Stephen S. Sepinuck, Gonzaga University School of Law, Gonzaga, Washington
  • Lynn A. Soukup, Pillsbury Winthrop Shaw Pittman LLP, Washington, DC

I Personal Property Secured Transactions

A. Security Agreement and Attachment of Security Interest

  1. General
  2. Insurance
  3. Licensing
  4. Consignments
  5. Real Property
  6. Leasing
  7. Sales
  8. Intellectual Property and Licenses
  9. Tort and Insurance Claims

B. Security Agreement and Attachment of Security Interest

  1. Security Agreement
  2. Obligation Secured
  3. Rights in the Collateral
  4. Restrictions on Transfer

C. Description or Indication of Collateral and the Secured Debt -- Security Agreements and Financing Statements

D. Perfection

  1. Certificates of Title
  2. Control
  3. Possession
  4. Financing Statements: Debtor and Secured Party Name
  5. Filing of Financing Statement -- Manner and Location
  6. Amendments, Termination and Lapse of Financing Statement

E. Priority

  1. Lien Creditors
  2. Buyers and Other Transferees
  3. Statutory Liens; Forfeiture
  4. Subordination and Subrogation
  5. Equitable Claims
  6. Set Off
  7. Priority -- Competing Security Interests
  8. Purchase-Money Security Interests
  9. Proceeds

F. Default and Foreclosure

  1. Default
  2. Repossession of Collateral
  3. Notice of Foreclosure Sale
  4. Commercial Reasonableness of Foreclosure Sale
  5. Effect of Failure to Give Notice, Conduct Commercially Reasonable Foreclosure Sale, or Otherwise Comply with Part 6 of Article 9

G. Collection

H. Retention of collateral

II Real Property Secured Transactions

III Guaranties

IV Fraudulent Transfers

V Lender and Barrower Liability

A. Regulatory and Tort Claims - Good Faith, Fiduciary Duties, Interference With Prospective Economic Advantage, Libel, Invasion of Privacy

B. Obligations Under Corporate and Securities Laws

C. Borrower Liability

D. Disputes Among Creditors and Intercreditor Issues

VI UCC - Sales and Personal Property Leasing

A. Scope

  1. General
  2. Software and Other Intangibles

B. Contract Formation and Modification; Statute of Frauds; "Battle of the Forms"; Contract Interpretation; Title Issues

  1. General
  2. Battle of the Forms

C. Warranties and Products Liability

  1. Warranties
  2. Limitation of Liability
  3. "Economic Loss" Doctrine

E. Performance, Breach and Damages

F. Personal Property Leasing

VII Commercial Paper and Electronic Funds Transfers

A. Negotiable Instruments and Holder in Due Course

B. Electronic Funds Transfer

VIII Letters of Credit, Investment Securities, and Documents of Title

A. Letters of Credit

B. Investment Securities

IX Contracts

A. Formation, Scope, and Meaning of Agreement

B. Adhesion Contracts, Unconscionable Agreements, Good Faith and Other Public Policy Limits, Interference with Contract

C. Choice of Law

D. Arbitration

X Other Laws Affecting Commercial Transactions

A. Bankruptcy

  1. Automatic Stay
  2. Substantive Consolidation
  3. Claims
  4. Bankruptcy Estate
  5. Secured Parties, Set Off, Leases
  6. Avoidance Actions
  7. Executory Contract
  8. Plan
  9. Other

B. Consumer Law

C. Professional Liability

D. Other