In a Sept. 11, 2023 JDSUPRA posting I questioned the doctrinal and practical utility of partial legislative codifications of equity’s principles-based jurisprudence, such as the UTC, the very institution of the trust being a...more
On Feb. 22, the U.K. Law Commission launched a consultation on the Property (Digital Assets etc) Act 2024, a draft legislation that confirms the existence of a third category of personal property. Given the current model...more
The Law Commission for England and Wales recently published “Digital assets and ETDs in private international law: which court, which law? Call for evidence” ("Call for Evidence"). At the same time, it also published a short...more
Since 2018, seven states—California, Connecticut, Florida, Georgia, New York, Utah, and Virginia—have enacted laws requiring specific disclosures in commercial financing transactions. Three of those enactments came in 2023,...more
Executive Summary: In the summer and fall of 2022, electronic transactions were undergoing a sea change, but riding different tides: in the summer, the Uniform Law Commission approved a set of amendments to the Uniform...more
The Law Commission’s Final Report on the Arbitration Act 1996 makes a modest number of important recommendations for reform. On 6 September 2023, the Law Commission concluded its review of the Arbitration Act 1996 (the...more
While consumer lenders have long been attuned to disclosure requirements under the Truth in Lending Act, many commercial financiers are or soon will be subject to similar state-level obligations. On June 23, 2023, Florida...more
The law affecting distressed commercial real estate is about to change in Connecticut in a significant way. On July 1, 2023, the Uniform Commercial Real Estate Receivership Act (“UCRERA”) becomes effective in the state. Those...more
England & Wales is one of the most popular locations for commercial parties to resolve disputes by way of arbitration. The Law Commission (the body responsible for considering and recommending legislative change to the UK...more
Notwithstanding recent turbulence in the cryptocurrency markets, digital assets of all types are seemingly here to stay. Bitcoin, stablecoins, non-fungible tokens a/k/a NFTs, and even digital currency exchanged in the...more
Ever since the Uniform Law Commission published the Uniform Interstate Discovery and Depositions Act in 2007, the disinterest among Texas lawmakers to adopt the law has been both a curiosity and, to a small extent, a failure...more
In its current form, the Uniform Commercial Code (“UCC”) does little to accommodate emerging technologies such as cryptocurrencies and non-fungible tokens. In efforts to modernize and adapt the Uniform Commercial Code to...more
For those not lawyers, the UCCJEA is a ridiculously long acronym for standardized custody laws that are supposed to be uniform across the United States. Every state has its own custody laws, but back in the 1960s the legal...more
Recovering criminal assets is difficult. A good recent example of this difficulty came in October this year, when the Treasury estimated that it could recover just £1.2 billion of the £4.5 billion lost to Covid fraud. ...more
Traditionally, the creation of a valid will, in California and elsewhere, required strict adherence to certain formalities. Estate law has been tepidly moving away from requiring compliance with those formalities, with a...more
Virtually All PPP Loans have been Forgiven with Limited Scrutiny - "More than two years later, the overwhelming majority of these loans have transformed into government grants, as 91% have been either fully or partially...more
Over the last few years, stakeholders in the digital asset space have questioned how digital assets should be treated for purposes of the Uniform Commercial Code (UCC), a comprehensive body of laws relating to commercial...more
Background: Current Law in England & Wales As the law currently stands in England & Wales, criminal liability for certain offences can be attributed to companies through the ‘Identification Principle’, which provides that, in...more
Just as cryptocurrency markets are attempting to thaw out from a “crypto winter,” a joint committee of the Uniform Law Commission (ULC) and the American Law Institute (ALI) has finalized a significant and wide-ranging...more
Emerging technologies, such as bitcoin, blockchain and non-fungible tokens (“NFTs”), have led to the creation of massive alternative investment vehicles, additional portfolio diversification as well as expansion of the...more
Disputes over allegedly fraudulent conveyances have become more common in bankruptcy cases. Fraudulent transfer allegations are also common in transactions such as leveraged buy-outs and recapitalizations. Analysts are...more
The onset of the COVID-19 pandemic spurred a drastic increase in telehealth utilization across the country, which meaningfully changed the way providers deliver care and illuminated novel state telehealth policy design...more
One benefit of blockchain includes its ability to harness the power of smart contracts. What is a Smart Contract? Although the term “smart contract” sounds like a legal instrument, a smart contract is actually a...more
In July 2021, the Uniform Law Commission (“ULC”) voted to approve the Uniform Personal Data Protection Act (“UPDPA”). The UPDPA is a model data privacy bill designed to provide a template for states to introduce to their own...more
E-Signatures and Remote Online Notarization: The Uniform Electronic Transactions Act (“UETA”) proposed by the Uniform Law Commission (“ULC”) in 1999 presented ways for states to effectuate electronic signatures with the...more