Uniform Commercial Code (UCC)

News & Analysis as of

On-Sale Bar for Contractor and Supplier Activities

The Federal Circuit addressed the potential for contract manufacturing to create an “on sale” bar to patentability, in a decision that could affect how supplier relationships are managed. Whether a sale or offer for sale of...more

Understanding Agreements among Lenders: How the Unitranche Differs from an Intercreditor Agreement

When seeking a loan, borrowers require both good financial terms and an efficient closing process. Unitranche facilities help accomplish both goals by combining a senior/first lien credit facility with a junior/second lien...more

Commercial Contract Risk in 2017

Coming off a record year in car sales, it’s expected that warranty and recall costs will continue to be on the rise. With that in mind, it’s vital that OEMs and suppliers have both their foreign and domestic contracts in...more

Hague Securities Convention’s Impact on Secured Transactions Choice-of-Law Rules

Choice-of-law rules for security interests in security entitlements in securities credited to security accounts will change on April 1, 2017 when the Hague Securities Convention comes into effect....more

SC Court of Appeals Holds 6-Year Statute of Limitations Does Not Apply - UCC claim was filed against automotive lender

You may have read about South Carolina Court of Appeals’ decision to extend the 6-year statute of limitations to UCC claims involving secured transactions arising out of automobile purchases. In Delaney v. First Financial of...more

Green Energy Can Complicate Real Estate Foreclosures

A quick drive through almost any newer residential community in the Southwest will show that a lot of residents are embracing “Green Energy” or renewable energy by placing solar panels on their properties. While most people...more

10 Key Intellectual Property Issues for M&A Deals

Intellectual property (IP) issues are increasingly important factors in merger and acquisition (M&A) transactions. Of the various industry sector transactions included in recent American Bar Association (ABA) Business Law...more

Development of court practice on tax disputes regarding accrual of VAT in connection with transfer of inseparable improvements of...

On 3 November 2016 the Commercial Court of Moscow delivered a decision in case No. ?40 167541/16 140 1462....more

Producers Beware: What happens when your movie distributor files bankruptcy? Part 2.

In my blog article on August 9, I focused on some of the issues that licensors need to be aware of as they license IP rights, including the concept of allowing distributors to include “damages only” clauses in the...more

Lack of Original Note Can Be Fatal Enforcement

In Emerald Portfolio, LLC v. Outer Banks/Kinnakeet Assoc., LLC, the North Carolina Court of Appeals refused to allow a debt purchaser to enforce a note where the original note was lost before it was transferred to a debt...more

Attachment Issues: Staple the Allonge to the Note or Else!

In attempting to fend off lenders’ mortgage foreclosure actions, borrowers will often assert defenses challenging the lenders’ right to foreclose. Two recent Connecticut Superior Court decisions provide cautionary tales on...more

The JOBS Act And The Convergence Of Private And Public Sales Under The UCC

Section 9610(b) of the California Commercial Code provides that if commercially reasonable, a secured party may dispose of collateral by public or private proceedings, by one or more contracts, as a unit or in parcels, and at...more

CentsAbility: Creditors' Rights Law Update - South Carolina Court of Appeals applies Uniform Commercial Code Six-Year Statute of...

This summer, the South Carolina Court of Appeals decided the appeal of Coastal Federal Credit Union v. Brown. The Court had to determine which statute of limitations applied to the credit union’s action to collect a...more

En Banc Court Ties On-Sale Bar to Commercial Sale in Accordance with Uniform Commercial Code

In a unanimous en banc decision, the US Court of Appeals for the Federal Circuit established the circumstances under which a product manufactured according to product-by-process claims is invalid under the “on-sale bar” of 35...more

Rules of the (International) Road, Brexit, PPP as a New Tool for Argentina, and Keeping Non-U.S. Companies Safe from Suit (Expect...

- Post-Daimler: Are Non-U.S. Companies Safe from Suit in U.S. Courts? What if the Non-U.S. Parent Registers to Do Business in a State? - Rules of the (International) Road: Choosing and Appointing a Distributor ...more

Which Code Applies When A Stock Certificate Has Been Lost, Destroyed Or Wrongfully Taken?

Earlier this week, I wrote about Judge Edward M. Chen’s ruling in Sender v. Franklin Res., Inc., 2015 U.S. Dist. LEXIS 171453, 3-4 (N.D. Cal. Dec. 22, 2015). Judge Chen applied California Corporations Code Section 419 to a...more

This Case Caused Me To Take Stock

I recently came across Fukuda v. Nethercott, 2016 U.S. Dist. LEXIS 92462 (D. Utah, July 15, 2016). The case involved claims by the plaintiff that the defendants had sold him securities in violation of the registration...more

En Banc CAFC Requires UCC Sale For On Sale Bar

In an en banc decision issued in The Medicines Company v. Hospira, Inc., the Federal Circuit determined that in order for a commercial transaction to trigger the on-sale bar of § 35 USC 102(b), it must “bear the general...more

Enforcing Personal Guaranties

You might wonder whether lenders can enforce a guaranty of a loan from an individual or entity that has no formal connection with the borrower, i.e. someone who is not an owner or affiliated company. Generally, the answer is...more

Insights North Carolina Adopts Additional Creditor Protections for the Full Payment Check Law

For years, businesses and individuals in North Carolina have quietly settled unliquidated or disputed debts in good faith by tendering a check or other negotiable instrument in full satisfaction of the claim under the common...more

Patent Law: Making On-Sale Bar Jurisprudence Coherent

“Rather than rest our decision on formalities, our focus is on what makes our on-sale bar jurisprudence coherent: preventing inventors from filing for patents a year or more after the invention has been commercially marketed,...more

Federal Circuit Rules for The Medicines Company in Patent Litigation

In an en banc decision on July 12, 2016 in The Medicines Co. v. Hospira, Inc., the Federal Circuit established the circumstances under which a product manufactured according to product-by-process claims is invalid under the...more

Collateral 101: Perfecting Security Interests in Common and Uncommon Collateral

As most people (at least in the banking world) know, a security interest is the granting of an interest in property to secure obligations, usually loan debt. If the borrower defaults under its obligations, the bank can...more

Federal Circuit Clarifies the “Commercial Offer for Sale” Prong of the On-Sale Bar

On July 11, 2016, a unanimous Federal Circuit en banc affirmed that The Medicines Company’s (“TMC”) use of third-party contract manufacturing services did not invalidate U.S. Patent Nos. 7,582,727 and 7,598,343 (the...more

No Sale: Unanimous Federal Circuit Says “Commercial Sale,” Not “Commercial Benefit,” Applies to the Patent Act’s On-Sale Bar for...

On July 11, 2016, in The Medicines Co. v. Hospira, Inc. (Case Nos. 2014-1469, -1504), the en banc Federal Circuit unanimously concluded that “to be ‘on sale’ under § 102(b), a product must be the subject of a commercial sale...more

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