News & Analysis as of

Uniform Commercial Code (UCC)

Can I Secure a Loan with Bitcoin? Part III

by Ward and Smith, P.A. on

In my previous articles, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. I also discussed...more

Delaware Proposes Updates to Its LLC Statute Regarding Series LLCs

by Morris James LLP on

On April 6, the Delaware Corporation Law Section of the Delaware Bar Association proposed some major and minor amendments to the Delaware Limited Liability Company Act. If introduced in and approved by the Delaware General...more

‘A Primer on Marketing Hydrocarbons’ Presentation

by Jackson Walker on

Jackson Walker partner Michael P. Pearson delivered a presentation entitled “A Primer on Marketing Hydrocarbons” at the Fundamentals of Oil, Gas and Mineral Law Course associated with the 44th Annual Ernest E. Smith Oil, Gas...more

An Introduction to Smart Contracts and Their Potential and Inherent Limitations

“Smart contracts” are a critical component of many platforms and applications being built using blockchain or distributed ledger technology. Below, we outline the background and functions of smart contracts, discuss whether...more

Understanding The Warranty Of Fitness For Particular Purpose In The Automotive Supply Chain

by Foley & Lardner LLP on

For automotive suppliers, 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

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

by Foley & Lardner LLP on

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

Negotiable Instruments in Kentucky: When the UCC Complicates the Statute of Limitations for Written Contracts

Statutes of limitation control the time in which a person or entity may bring certain causes of action against another. Kentucky law proscribes that an action on a written obligation entered into before July 1, 2014 must be...more

Eight Lessons for Your Practice from the Law of Canine Replevin (#5 Will Amaze You)

Some years ago, a judge in New York wrote that “the reported cases for replevin of a pet dog are few, in part because of the legal expense involved in maintaining such an action.” Webb v. Papaspiridakos, 889 N.Y.S.2d 884...more

Mitigating the Risks Involved With Ending a Business Relationship

by Foley & Lardner LLP on

All good things must come to an end. So it is in life, and so it is in business. Eventually all business relationships, including manufacturing relationships, will come to an end. Some relationships end with nary more than a...more

Can I Secure A Loan with Bitcoin? Part II

by Ward and Smith, P.A. on

In my previous article, I discussed the challenges of using Article 9 of the Uniform Commercial Code ("UCC") to create and perfect a security interest in virtual currency like Bitcoin, Ethereum, or Litecoin. (I use...more

A Proposed Statutory Framework for State Regulation of Virtual Currency Businesses: The Uniform Law Commission’s “Uniform...

Last July, the Uniform Law Commission completed a uniform model state law, known as the Uniform Regulation of Virtual-Currency Businesses Act (“URVCBA” or the “Act”) (Steve Weise participated in the preparation of the Act)....more

California Statute May Be An Issue In Dispute Between President Trump And Adult Film Actress

by Allen Matkins on

Not too long ago, I wrote about the lawsuit filed in California challenging a confidentiality agreement allegedly entered into by President Donald Trump. Clifford v. Trump, L.A. Super. Ct. Case No. BC 696568 (filed Mar. 6,...more

Mitigating Product Liability for Artificial Intelligence

by Jones Day on

The Situation: New technologies incorporating AI create questions about how product liability principles will apply and adapt. The Issue: Legislatures and courts have not addressed how product liability laws apply to new...more

Can I Secure a Loan with Bitcoin? Part I

by Ward and Smith, P.A. on

Each day seems to bring another story about Bitcoin, Ethereum, Litecoin, or another virtual currency. If virtual currencies continue to grow in popularity, it's only a matter of time before borrowers offer to pledge virtual...more

Consequential Damage Disclaimers in Supply Agreements

by Foley & Lardner LLP on

This is the million (sometimes multimillion) dollar question. According to Black’s Law Dictionary, consequential damages are “losses that do not flow directly and immediately from an injurious act but that result indirectly...more

Protecting Your Supply Chain in the Face of Potential Auto Industry Challenges in 2018

by Foley & Lardner LLP on

As the economy has improved and unemployment has fallen in the nearly 10 years since the Great Recession, North American vehicle sales volumes have also steadily increased and the forecast remains strong for 2018. Bloomberg...more

Federal Circuit Clarifies Scope of On-Sale Bar

by Knobbe Martens on

Federal Circuit Summaries - In Medicines Co. v. Hospira, Inc., 2014-1469; 2014-1504 (Dyk, Wallach, Hughes), the Federal Circuit affirmed the district court’s finding of non-infringement but reversed the district court’s...more

Supplier Strategies for the Financially Distressed Buyer

by Shipman & Goodwin LLP on

While the stock market continually reached new highs last year, the pace of retail bankruptcies did not abate. In just the last year, Toys R Us, Gymboree, Radioshack, Payless ShoeSource, BCBG Max Azria, Eastern Outfitters,...more

Enforcing a Security Interest in Domain Names

by McGuireWoods LLP on

For many businesses, a domain name is among its most valuable assets. Lenders routinely seek to use domain names as collateral. However, perfecting a security interest in a domain name is only the first step because...more

Do Bulk Sales Laws Still Exist in New York?

by Farrell Fritz, P.C. on

I recently came across a discussion among members of the NYS Bar Associations Business Law Section where a question was posed concerning the purchase by a client of the posting attorney of all or “substantially all” of the...more

Client Alert: Managing Credit Risk in the Supply Chain

Companies expend substantial resources managing the credit risk of customers, to protect the value of their sales. Many companies, however, do not always apply credit risk analysis to its supply chain, focusing instead on...more

Reflections on Technology-Related Legal Issues: Looking Back at 2017; Will 2018 Be a Quantum Leap Forward?

As we approach the end of 2017, it is a time to reflect on the dizzying pace of technology evolution this year, and the amazing array of legal issues it presented. Similarly, it is a time to look forward and anticipate what...more

When Worlds Collide: Article 2 of the Uniform Commercial Code and Chapter 11

Picture the scene: A vendor has just received word that its customer has filed chapter 11. The vendor put the customer on a cash-before-delivery basis and demanded assurances of performance. The vendor was successful in...more

To Have and to Hold: Third Circuit Rules That Physical Possession of Goods Is Required Under Section 503(b)(9) of the Bankruptcy...

by Jones Day on

Since its enactment as part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, section 503(b)(9) of the Bankruptcy Code has provided an important safety net for creditors selling goods to financially...more

Ontario seeks to reduce red tape with changes to the Personal Property Security Act

by DLA Piper on

The Ontario government introduced Bill 154, the Cutting Unnecessary Red Tape Act, 2017 on the 14th of September. The Bill, which makes amendments to over 125 Ontario public acts, received Royal Assent on November 14, 2017....more

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