Illinois Bar Journal


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Articles on Uniform Commercial Code

Used cars are subject to an implied warranty of merchantability that cannot be disclaimed December 2016 Illinois Law Update, Page 16 The seller of a used motor vehicle may not modify or disclaim the warranty of merchantability prescribed in UCC Section 2-314.
Non-Illinois stock not categorically exempt from levy or turnover January 2015 Illinois Law Update, Page 16 On November 5, 2014, the First District Appellate Court held that the Uniform Commercial Code ("UCC") controls the levy of securities, not the Code of Civil Procedure. Accordingly, levy is governed by the law of the security issuer's jurisdiction, as specified in the UCC.
Bankruptcy and the Series LLC: Can Creditors Pierce the Veil? By John T. Wagener and Kenneth D. Peters May 2014 Article, Page 236 The Series LLC gives sweeping liability protection to those who use it. But will it shield an umbrella entity in bankruptcy and under UCC Article 9 from liability incurred by debtor subunits?
Changes to UCC forms December 2013 Illinois Law Update, Page 612 The Illinois Secretary of State recently updated the forms that may be used in UCC filings, and the font and case requirements for preparations of these forms. 14 Ill. Adm. Code 180.12.
Secretary of State empowered to terminate fraudulent financing statements By Adam W. Lasker October 2012 LawPulse, Page 514 An amendment to the Illinois UCC penalizes filing of false financing statements or liens and gives the secretary of state authority to investigate, punish, and even terminate false filings.
Uniform Commercial Code adds penalties for filing fraudulent records. PA 097-0836 October 2012 Illinois Law Update, Page 520 Illinois lawmakers have added section 9-501.1 to the Uniform Commercial Code (UCC), creating penalties for persons who cause a false record to be communicated to the filing office.
Getting Debtor Names Right Under the UCC By Michelle Nijm June 2012 Column, Page 332 It’s harder than you think, but pending legislation would ease the burden.
See comments from our readers. September 2010 Column, Page 442 Exception for commercial fraud not warranted; Two exceptions to the doctrine of election
The Case for a Narrow Commercial Fraud Exception to the Moorman Doctrine By Travis J. Quick June 2010 Article, Page 318 Society is best served by requiring the parties - typically sophisticated business buyers and sellers - to bargain for contract protection, the author argues.
The Sometimes Surprising Practical Implications of Revised UCC Article 1 By Pasha Vaziri April 2010 Article, Page 204 Article 1 of the Uniform Commercial Code articulates the principles that underlie the remaining articles, and Illinois recently adopted Revised Article 1. Here's what it means.
The “Buyer’s Option” Contract in Illinois By John J. D’Attomo August 2008 Article, Page 418 Recent opinions have recognized a buyer's-option contract that obligates sellers to sell without also requiring buyers to buy.
Winning the Battle of the Forms By William J. Ryan and John B. Thornton July 2008 Article, Page 364 Many contracts are formed by the exchange of price quotes, purchase orders, and invoices, which often contain conflicting terms. This article reviews typical "battle of the forms" issues.
UCC filing rules amended. PA 095-0446 June 2008 Illinois Law Update, Page 284 Section 9-516 of the Illinois Uniform Commercial Code has been amended. 810 ILCS 5/9-516. This section, entitled "What constitutes filing; effectiveness of filing," has been changed to add three new subsections to 9-516(b) concerning what documents may be refused or do not constitute the filing of a financing statement.
A New Approach to Limitations of Remedies and Damages Under the UCC By Peter C. John February 2008 Article, Page 96 Razor v Hyundai Motor America changed Illinois law by limiting the failure of a remedy to the remedy itself and not implicating the limitation on damages. 
Lack of notice of disposition of collateral does not necessarily bar deficiency action September 2007 Illinois Law Update, Page 460 On June 29, 2007, the Illinois Appellate Court, First District, remanded the order of the Circuit Court of Cook County awarding judgment in favor of Lula Stoval due to the circuit court's error in applying an absolute bar to General Motors Acceptance Corporation's (GMAC) deficiency judgment against Stoval. 
A Creditor’s Guide to Article 9 UCC Compliance By Michael L. Weissman April 2007 Article, Page 188 Here's what recent cases have to say about attachment and perfection pitfalls and other issues important to secured creditors.
Otherwise invalid disclaimer may be made valid by parties’ “course of dealing” December 2006 Illinois Law Update, Page 650 On October 6, 2006, the Illinois Appellate Court, Third District, affirmed the decision of the Circuit Court of Will County, held that implied warranties had been disclaimed throughout the course of dealings between a window manufacturer and one of its parts suppliers, and granted the defendant parts supplier's motion to dismiss. 
What’s in a Name? For UCC Filings Under Revised Article 9, Everything By Edward J. Underhill June 2006 Article, Page 314 Secured creditors must be prepared to modify their searching and filing practices to assure that security interests remain enforceable.
Information requirements for UCC forms updated February 2006 Illinois Law Update, Page 68 Effective November 28, 2005, the Illinois Secretary of State has amended Part 180 of Title 14, 14 Ill Adm Code 180. 
Secured Transactions Under Illinois’ New UCC Article 9 By Catherine A. Nestrick and Andrew C. Ozete July 2001 Article, Page 346 Read about the changes to article 9 that took effect July 1, 2001.
“Best Efforts” Promises Under Illinois Law By James M. Van Vliet, Jr. December 2000 Article, Page 698 Under Illinois law, "best efforts" promises apparently are not binding when the parties have failed to specify a level of performance. The author discusses the implications.
Distinguishing Between Securities Accounts and Deposit Accounts Under the UCC By René Ghadimi December 2000 Article, Page 719 This article discusses the important and sometimes elusive distinction between the two accounts.