Significant disparity exists among the states in terms of their unclaimed property reporting requirements. However, an increasing number of states are recognizing that the benefits of identifying best practices, establishing national standards, and achieving,...

"Closing" a transaction is one of the most important duties performed by a junior business attorney. A transaction is considered closed when all requisite documents have been negotiated, signed and delivered, any instruments or certificates have...

The task of drafting and negotiating a commercial lease can be daunting to the uninitiated practitioner. The attorney must not only have a grasp of the basic real estate concepts underlying a lease agreement, but also must have a working knowledge of the...

The outrage over the millions in taxpayer dollars paid in bonuses to AIG employees induced a frantic search to discover ways to address this putative injustice. Leading contract law authority Dr. John Murray, Jr. examines several tenets of contract law raised...

Revised Article 9 brings depository accounts within its scope, with perfection to be effected by control. An American Bar Association committee has developed model deposit account control agreements. The forms are discussed and reproduced in Asset Based...

The revision of the Uniform Customs and Practice for Documentary Credits (UCP 600) became effective July 1, 2007. The UCP 600 is applicable to all letters of credit explicitly incorporating it, and most likely is applicable to all other credits by reason...

Among other recent developments in contract law are those concerning the Uniform Commercial Code, particularly its constructed third party beneficiary provision and the judicial confusion surrounding the construction of that provision. The reconciliation...

U.C.C. section 2-607(3)(a) requires a buyer to give a seller notice of breach within a reasonable time after the buyer discovers or should have discovered the breach. Failure to give the specified notice bars a buyer from any remedy for breach. This harsh...

Financial and corporate crises bring regulation; the bigger the crisis, the more the regulation. A few years ago, major corporations, particularly Enron and WorldCom, were engulfed in scandals. Coming hard upon the bursting of the dot.com bubble and revelations...

Hugh K. Webster, a partner in the Washington, DC law firm of Webster, Chamberlain & Bean, discusses Northern District of Ohio's recent holding in In re Welding Fume Litigation that participation by a non-manufacturer's employees in an industry association,...

Commercial law is a broad name for a practice area that encompasses many legal topics. A commercial law practitioner may become involved with banking law, bankruptcy law, and consumer credit law, among other areas.   The primary focus of this...

Checklists (e.g., buyer’s obligations, seller’s obligations); Official Forms (e.g., UCC-1 and UCC-3 lien filings; U.S. Copyright Office Forms); Unofficial Forms (e.g., creating a security interest in inventory; commercial...

Small Law Perspective:   Small general practice firms may be involved in commercial transactional work, particularly relating to consumer credit, collections, or sales. There are also small, boutique firms engaged in a variety of commercial work, such...

Take your clients forward with the new Lexis® Transactional Advisor, combining due diligence tools, analysis and practice capabilities—all in one solution. Track Emerging Issues – features new Emerging Issues Commentary...

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