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Goods or Services Uniform Commercial Code (UCC)

Paul Hastings LLP

Looking for Liquidity in Foreign Places: A Lender’s Guide to Financing Goods Located Outside the US Part I

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Part I: Whose Law is it Anyway? With elevated interest rates and rising labor and supply costs, many U.S. companies are looking for additional sources of capital to continue growing their businesses. Companies with...more

Husch Blackwell LLP

Is Electricity A Good Or A Service Under The Priority Provisions Of 11 U.S.C. § 503(B)(9)

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Section 503(b)(9) of the Bankruptcy Code allows an administrative expense “for the value of any goods received by the debtor within 20 days before the date of the commencement of a case under this title in which the goods...more

Butler Snow LLP

Leveraging the UCC for Sellers

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For sellers of goods, it is all but impossible to escape the reach of the Uniform Commercial Code (“UCC”) because its Article 2 applies to sales of goods. The UCC contains several buyer friendly provisions (including certain...more

Adler Pollock & Sheehan P.C.

2024 Rhode Island Legislative Session Report

The Rhode Island General Assembly adjourned sine die on Friday, bringing the 2024 legislative session to a close. Below is an overview of noteworthy legislation passed during the session....more

Quarles & Brady LLP

MSSC v. Airboss Continues to Roil Automotive Supply Markets —  Sixth Circuit Reverses Preliminary Injunction Ordering Auto...

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Relying on a recent Michigan Supreme Court opinion, the Sixth Circuit Court of Appeals recently reversed a preliminary injunction requiring an auto supplier to supply products, holding that the parties’ purchase order...more

Quarles & Brady LLP

Survival Series: Acceptance, Rejection, Revocation of Acceptance, and Right to Cure (Article #11)

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In our previous articles in the Supply Chain Survival Series, we discussed when a party’s failure to perform may (or may not) be excused by a contractual force majeure provision or by the common law doctrines of...more

Quarles & Brady LLP

Supply Chain Survival Series: Acceptance, Rejection, Revocation of Acceptance, and Right to Cure (Article #11)

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In our previous articles in the Supply Chain Survival Series, we discussed when a party’s failure to perform may (or may not) be excused by a contractual force majeure provision or by the common law doctrines of...more

Nelson Mullins Riley & Scarborough LLP

Does Electricity Supplied Within 20 Days of a Bankruptcy Qualify for Section 503(b)(9) Priority Status? Recent Decisions Say “No”

Section 503(b)(9) Overview - Ever since its addition to the Bankruptcy Code in 2005, there has been an ongoing debate as to whether electricity is a “good” or a “service” for purposes of section 503(b)(9). If electricity...more

Foley & Lardner LLP

Quantity Requirements Under UCC Art. 2: Let’s Ensure Supply

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In the business world, many companies enter into long-term contracts with respect to high volume, expensive, or essential transactions. A long-term contract is certainly beneficial for these types of transactions, but...more

Pillsbury Winthrop Shaw Pittman LLP

Alternating Current Yields Alternating Decisions on Bankruptcy Priority Treatment

Courts remain divided as to whether electricity is a good (resulting in an administrative claim for electricity provided in the 20-day period before a bankruptcy case is filed) or service (no administrative claim). ...more

Quarles & Brady LLP

Supply Chain Survival Series: What Contract Terms Apply? (Article #3)

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After working through two different customer disputes in as many weeks, you finally come up for some air. While you have the opportunity, you decide it is time to review ABC Corp.’s contracting practices for buying and...more

Felicello Law PC

Speak Carefully When Doing Business Abroad

Felicello Law PC on

How many times has a CEO or another executive reached a deal “in-principle” with a non-U.S. company by telephone or over a lunch or dinner meeting? Mostly likely, the dealmaker walks away from the meeting thinking that the...more

Ward and Smith, P.A.

A New Commodity in a Traditional Box: Hemp's Commodity Status Demands Appropriate Attention

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The United States government federally decriminalized hemp on December 20, 2018, making hemp biomass—the raw, harvested agricultural plant—a commodity like any other crop, such as corn, wheat, or soybeans.  The transition of...more

Lowndes

What You Need to Know about Email and eSignatures for the Purchase or Sale of Goods

Lowndes on

The use of email has become common in the contracting process and received an additional boost from the COVID-19 pandemic, which made electronic communications the preference for most businesses. ...more

Bowditch & Dewey

Getting Paid in Bankruptcy – Part II, Goods and Services

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In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

Farrell Fritz, P.C.

New York Governing Law in US-Style Commercial Agreements

Farrell Fritz, P.C. on

The laws governing a commercial agreement fundamentally determine the enforcement of that agreement’s provisions. Surprisingly, US-style commercial agreements place this important concept all the way in the back of the...more

Nilan Johnson Lewis PA

Managing Customer Credit Risk During the COVID-19 Crisis

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As the economic fallout from the COVID-19 pandemic continues, businesses are facing nearly unprecedented risk that their commercial customers, who may have been transformed from financially strong to seriously distressed in a...more

Cozen O'Connor

Keep Calm — and Look at Your Contract(s)

Cozen O'Connor on

Whether you cannot meet your supply obligations because your supply chain has come to a screeching halt or you are losing income because conferences, sports, or cultural events are cancelled and your contract partners do not...more

Polsinelli

COVID 19 and Supply Chain Contracts

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Covid-19 has caused serious disruption to manufacturers’ ability to produce products and fill orders on a timely basis, which in turn has impeded the performance of countless supply chains....more

Bradley Arant Boult Cummings LLP

Selling Goods Internationally? Ask These Questions - International Law News

With a global economy, it is common for the sale of goods by U.S. companies to reach beyond the borders of the United States. There are some key legal issues that a company should familiarize itself with and take into...more

Patterson Belknap Webb & Tyler LLP

An Unresolved Issue at the Intersection of Consignment and Bankruptcy Law Decided

It always amazes me when, after more than a half-century of Uniform Commercial Code (“UCC”) jurisprudence, an issue one thinks would arise quite commonly appears never to have been decided in a reported case. Such an issue...more

Jones Day

Be Wary of Warranties for Software Design

Jones Day on

The Situation: Whether warranties accompany software used in other products turns on many factors, including whether the designer is providing a "good" or "service," statements in advertising, representations made in sales...more

Foley & Lardner LLP

Fit for What Purpose? Understanding the Warranty of Fitness for Particular Purpose

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For manufacturing companies, some of the most important terms in any contract for the purchase or sale of goods are the warranties that apply to those goods. This article will address one particular kind of warranty – the...more

Foley & Lardner LLP

Key Provisions for Supply Chain Contracts

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In the manufacturing industry, a company’s supply chain can be a source of both risk and value. By paying careful attention to the terms of its supply chain contracts, a company can help to mitigate its risks while at the...more

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