Part Two of a Two-Part Article
Delaware recently became the sixth state to enact the Uniform Law Commission’s (ULC) Uniform Assignment for the Benefit of Creditors Act (Uniform Act), with minor modifications (the Delaware Act).
Delaware Enacts Uniform Assignment for the Benefit of Creditors Act with Minor Modifications
Delaware recently became the sixth state to enact the Uniform Act, with minor modifications (the Delaware Act). Part One of this article included background regarding assignments for the benefit of creditors, including historical shortcomings that the Uniform Act is intended to address. Part Two discusses the Uniform and Delaware Acts in more detail, including the uniformity, clarity, flexibility, and efficiency provided by the Uniform Act, and the specific refinements incorporated into the Delaware Act.
By
Russell C. Silberglied and James F. McCauley
Delaware recently became the sixth state to enact the Uniform Law Commission’s (ULC) Uniform Assignment for the Benefit of Creditors Act (Uniform Act), with minor modifications (the Delaware Act).
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