Special report: new Article 9

Article Abstract:

Revised UCC Article 9, governing secured transactions, received final approval from the National Conference of Commissioners on Uniform State Laws in July 1998 and will be ready for submission to the state legislatures in 1999. The revision expands the scope of Article 9 in several ways. These expansions affect such matters as deposit accounts as collateral, duties of secured parties, choice of law, perfection of security interests, priority rules, and the definition of proceeds.

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Security interest in patent after Cybernetic Services

Article Abstract:

The author discusses the state of the law following a 2001 decision of the 9th Circuit Court of Appeals which held that a security interest in a patent may be perfected by filing a financial statement under the Uniform Commercial Code. The court's ruling that the Patent Act did not preempt the UCC is analyzed.

States, Patent law, Exclusive and concurrent legislative powers, Preemption (Legislative power)

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A lessor's meaningful residual interest: using TRAC leases as an object lesson

Article Abstract:

The authors discuss the misapplication of risk-opportunity analysis by courts to determine a lessor's residual interest under lease provisions, focusing on terminal-rental-adjustment clause leases, and argue for adherence to the UCC standards to overcome this problem.

Leases, Interest, Interest (Finance)

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