Uniform Commercial Code/Article 9
The UCC and Barnhill are in accord when it comes to ownership of funds underlying an unpaid check.
When it comes to attachment and perfection of a security interest, the devil is in the details.
The 2005 amendments to Section 546(c) departed from state law under UCC § 2-702 by creating a federal rule making reclamation claims subordinate to existing secured claims and DIP financing.
Holder in due course of consumer paper remains subject to the debtor’s claims against the originator of the paper.
Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.