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The New York UCC Comes of Age: Redux
Last year, I enthusiastically reported in these pages on the efforts of certain New York bar associations, legislators and others to bring the New York Uniform Commercial Code (UCC) into the 21st century. (See http://bit.ly/1bpFpzw). The need for modernizing the statute was obvious. New York was the only state that had not adopted amendments to Articles 3 (negotiable instruments) and 4 (bank deposits and collections) recommended as far back as 1990 by the Uniform Law Commission (the ULC, also known as the National Commissioners on Uniform State Laws) and the American Law Institute (ALI) ' its Articles 3 and 4 being the 1968 versions of those articles. Its Article 1 (general provisions) and Article 7 (documents of title) similarly failed to reflect the latest recommended provisions (being those proposed by the ULC and ALI in 2001 for Article 1 and in 2003 for Article 7. And it had not adopted the 2010 amendments to Article 9.
It should be noted that the amendments to Article 1 are now effective in all states except Georgia, Missouri and Wyoming. Puerto Rico has also not adopted the 2001 amendments to Article 1. However, proposed legislation adopting such amendments has been introduced in Wyoming as of the date of submission of this article. In addition, The amendments to Article 7 have not been adopted in Missouri and Wyoming. The amendments are also not effective in either Puerto Rico or the Virgin Islands. However, as with the 2001 Article 1 revisions, as of the date of submission of this article, proposed legislation adopting such amendments has been introduced in Wyoming. See http://bit.ly/1DarV02.
Law Firms are Reducing Redundant Real Estate by Bringing Support Services Back to the Office
A trend analysis of the benefits and challenges of bringing back administrative, word processing and billing services to law offices.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Bit Parts
Summary Judgment Denied Defendant in Declaratory Action by Producer of To Kill a Mockingbird Broadway Play Seeking Amateur Theatrical Rights
Risks of “Baseball Arbitration” in Resolving Real Estate Disputes
“Baseball arbitration” refers to the process used in Major League Baseball in which if an eligible player's representative and the club ownership cannot reach a compensation agreement through negotiation, each party enters a final submission and during a formal hearing each side — player and management — presents its case and then the designated panel of arbitrators chooses one of the salary bids with no other result being allowed. This method has become increasingly popular even beyond the sport of baseball.
Disconnect Between In-House and Outside Counsel
'Disconnect Between In-House and Outside Counsel is a continuation of the discussion of client expectations and the disconnect that often occurs. And although the outside attorneys should be pursuing how inside-counsel actually think, inside counsel should make an effort to impart this information without waiting to be asked.