Uniform Commercial Code/Article 9
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.
Mississippi’s Judge Samson writes a treatise on the priorities between a secured lender and the provider of a payment and performance bond.