Mortgage Has Priority Over a Late UCC Fixture Filing
By Michael Weissman
Commercial Banking, Collections, and Bankruptcy,
January 2021
Although the UCC has made a wide swath of commercial law uniform from state to state, real estate law remains far less uniform—and that lack of uniformity is reflected in cases involving fixtures.
Failure to Review UCC Filings Leads to Loss for Lender
By Michael Weissman
Commercial Banking, Collections, and Bankruptcy,
December 2020
In Metropolitan Capital Bank and Trust v. Feiner, the lender was suing the defendant for common law fraud and conspiracy to commit fraud. At issue was whether the lender was justified in relying solely upon the defendant’s fraudulent statements or had a duty to dig deeper.
First District rules on property of multiple payee endorsement
By David J. Dubicki
Commercial Banking, Collections, and Bankruptcy,
April 1999
In Meng v. Maywood Proviso State Bank, 234 Ill.Dec. 92, 702 N.E.2d 258 (1st Dist. 1998), the Illinois Appellate Court analyzed, for the first time, 3-110(d) of the Uniform Commercial Code (code) (810 ILCS 5/3-110(d)) (effective January 1, 1992) which applies to instruments payable to two or more persons
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