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Secured Transactions Under the Uniform Commercial Code
Copyright 2017, Matthew Bender & Company, Inc., a member of the LexisNexis Group.
1C-19A Secured Transactions Under the UCC 19A.syn
Assignments of Tort Claims and Settlements
Julian B. McDonnell;Peter F. Coogan;William E. Hogan;and Detlev F. Vagts
The chapter first summarizes the history and evolution of assignments of tort claims. Historically, the common law did not permit such assignments, but exceptions to the common law prohibitions have gradually appeared over the years. While some U.S. jurisdictions retain the common law prohibition on assignments of personal injury claims, others have abandoned or modified this prohibition. This has impacted the treatment of tort claims under Article 9, both in terms of how the code was drafted and how it has been applied by the courts. The discussion thoroughly covers the complicated legal and market evolution of tort claims and assignments of settlements.
The chapter goes on to provide a comprehensive examination of assignments under Revised Article 9. Topics include the classification of collateral interests, retaining the exclusion of rights in judgments, bringing direct security interests in commercial tort claims within Revised Article 9, imposing special attachment requirements for direct security interests in commercial tort claims, allowing Article 9 security interests in tort claims as proceeds of other Article 9 collateral, and determining when the rules of revised Article 9 apply to pre-revision security agreements. Finally, the chapter discusses assignment under the common law and assignments of structured tort settlements.
Secured Transactions Under the UCC (also known as UCC Secured Transactions) provides unique scholarly treatment of the history of Article 9 and its interpretation over the years. It examines every facet of secured lending, analyzing in detail difficult issues that tend to be overlooked in other, more abbreviated treatments. Due to its broad focus, the publication has retained a great deal of material on "old" Article 9, which is of value both to contrast with the Revision and for litigating matters governed by the former version of the law.
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RELATED CHAPTERS: (View)
For a discussion of the transition rules for the revision, see Ch. 1B, Transition Rules for Revised Article 9.
For a discussion of the Article 9 security agreement, see Ch. 2A, The Article 9 Security Agreement.
For a discussion of restraints on the creation of security interests, see Ch. 2C, Restraints on the Creation of Security Interests.
For a general discussion of Article 9, see Ch. 3, The Scope of Article 9.
For a discussion of the structured settlement protection statutes, see Ch. 19, Factoring and Lending Against Receivables Under Revised Article 9.
OTHER RELATED PUBLICATIONS:
See UCC Forms & Procedures (Matthew Bender) for complete guidance and procedural analysis regarding both the mechanics of completing UCC related forms and the substantive law connected with those forms.
See Commercial Law & Practice Guide (Matthew Bender) for probing Article-by-Article analysis of today's UCC, as well as strategies for applying the Code in specific transactions.
See Corbin on Contracts (Matthew Bender) for authoritative and exhaustive analysis of the rules of contract law, including all exceptions and variations.
See Warren's Forms of Agreements (Matthew Bender) for numerous well-defined, well-prefaced forms covering nearly every transaction that an attorney will encounter in a business practice.
See Debtor-Creditor Law (Matthew Bender) for complete coverage of all aspects of the debtor-creditor relationship, including current case law, practical guidance, and numerous forms.