Faculty Book Display Case School of Law

1965

Uniform Commercial Code Reporter-DigestFrederick M. HartUniversity of New Mexico - School of Law, hart@law.unm.edu

William F. Willier

Robert J. DesiderioUniversity of New Mexico - School of Law, desiderio@law.unm.edu

Follow this and additional works at: https://digitalrepository.unm.edu/law_facbookdisplayPart of the Commercial Law Commons

This Book is brought to you for free and open access by the School of Lawat UNM Digital Repository. It has been accepted for inclusion in FacultyBook Display Case by an authorized administrator of UNM DigitalRepository. For more information, please contact amywinter@unm.edu.

Recommended CitationHart, Frederick M.; William F. Willier; and Robert J. Desiderio. "Uniform Commercial Code Reporter-Digest." (1965).https://digitalrepository.unm.edu/law_facbookdisplay/126

UNIFORM COMMERCIAL

CODE REPORTER-DIGEST

WILLIAM F. WILLIER

Professor of Law, Boston College Law School

FREDERICK M. HART

Professor of Law, University of New Mexico Law School

Boston College Law School

BOARD OF EDITORS

QUINN HETRICK

Editor-in-Chief

DANIEL KOH

Managing Editor

DAVID PNEUMAN

TEVIA PoLLARD

Administrative Editor

NISHANT DHARIA

Business Manager Research Editor

STEPHEN BARI'LETI, PIA KURKUVELOS, ANDREW LEE, & SARA LONKS

Executive Editors

0MARARNOUK

Development Editor

STEPHEN MAGEE & MATrnEW PERKINS

Editors, Alumni Outreach

OMAR ARNOUK, QUINN HETRICK, DANIEL KOH, DAVID PNEUMAN, & TEVIA POLLARD

Executive Board

STAFF

DEMETRIOS ANDREADIS, KEUN YOUNG BAE, ANDREW BENSSON, VICTORIA CHU, DANIEL GRIFFITH, JESSE HORNBERGER, STEPHANIE MARIANI,

BRITNEY RYAN, ADI SUDARSHAN, CAROLINE THIBEAULT,

VOLUME 6

Filed Through:

LARISSA WARREN, & AARON WILLIAMS

FACUI.TY ADVISOR

INGRID M. HILLINGER

Professor of Law, Boston College Law School

RELEASE NO. 194, June 2015

•. LexisNexis·

QUESTIONS ABOUT THIS PUBLICATION?

For questions about the Editorial Content appearing in these volumes or reprint permission, please call: John Rak Jr., J.D. at ....................................................................................................... 908-673-3328 Email: ................................................................................................................. john.rak@lexisnexis.com

James J. Motley, J.D. at ................................................................................................. 908-673-1529 Email: ..................................................................................................... Jarnes.J.Motley@lexisnexis.com Outside the United States and Canada please call . . . . . . . . . . . . . . . . . . . . . . . (973) 820-2000

For assistance with replacement pages, shipments, billing or other customer service matters, please call: Customer Services Department at . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (800) 833-9844Outside the United States and Canada, please call . . . . . . . . . . . . . . . . . . . . . . (518) 487-3000Fax number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (518) 487-3584Customer Service Website . . . . . . . . . . . . . . . . . . . . . . . . http://www.lexisnexis.com/custserv/

For information on other Matthew Bender Publications, please call Your account manager or . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Outside the United States and Canada, please call . . . . . . . . . ... . . . . . . . . . .

(800) 223-1940(518) 487-3000

Library of Congress Card Number: 65-6386

ISBN: 978-0-8205-1747-6 (print)

Cite this Publication as: [Vol. no.] William F. Willier and Frederick M. Hart, Uniform Commercial Code Reporter-Digest, [unit no] (Matthew Bender)

Example: 68 William F. Willier and Frederick M. Hart, Uniform Commercial Code Reporter-Digest, Rev. 1-102 (Matthew Bender)

This publication is designed to provide authoritative infonnation in regard to the subject matter covered. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting, or other professional services. If legal advice or other expert assistance is required, the services of a competent professional should be sought.

LexisNexis and the Knowledge Burst logo are registered trademarks of Reed Elsevier Properties Inc., used under license. Matthew Bender and the Matthew Bender Flame Design are registered trademarks of Matthew Bender Properties Inc.

Copyright © 2015 Matthew Bender & Company, Inc., a member of LexisNexis. All Rights Reserved. Originally published in 1965.

No copyright is claimed by LexisNexis or Matthew Bender & Company, Inc., in the text of statutes, regulations, and excerpts from court opinions quoted within this work. Permission to copy material may be licensed for a fee from the Copyright Clearance Center, 222 Rosewood Drive, Danvers, Mass. 01923, telephone (978) 750-8400.

Editorial Offices 630 Central Ave., New Providence, NJ 07974 (908) 464-6800 201 Mission St., San Francisco, CA 94105-1831 (415) 908-3200 www .lexisnexis.com

(Rel. 194-6/2015 Pub.747)

About the Authors

William F. Willier 1930-1985

Bill Willier received his Bachelor of Arts degree from the University of Northern Iowa and, in 1957, his law degree from the University of Iowa. Bill taught for one year at Rutgers Law School, another year at Syracuse and then came to Boston College in 1960.

Nationally, Bill was best known as a consumer advocate and as one of the leading writers on the Uniform Commercial Code. He was the first director of the National Consumer Law Center, and the principal drafter of the National Consumer Act He lobbied throughout the country against and early draft of the Uniform Consumer Credit Code, which he believed to be a "banker's bill." Bill became well known in many states and in Washington, and his advice was sought by many who helped establish policy on both national and state levels.

As a commercial law scholar, Bill was responsible for many books, including the Uniform Commercial Code Reporter-Digest. Bender's Uniform Commercial Code Service, now numbering over two dozen volumes, eighteen of which bear his name, was built upon the Report-Digest and Forms and Procedures Under the Uniform Commercial Code, which he co-authored. He was also responsible for the Massachusetts Practice Series, and he authored a number of law review articles. Bill's writing was marked by his practicality. He wanted to write books that lawyers would use, and he occasionally criticized those who discussed in the law reviews how many angels could sit on the head of a pin. He also brought to his writing his commitment to the consumer, frequently suggesting interpretations of legal materials that were favorable to consumer interests .

Bill's contributions to teaching are less well known. He was imaginative and authoritative. He was one of the fust to use the problem method in law teaching, and his emphasis on statutory construction instead of case analysis when teaching the Code led him to abandon the traditional casebook in favor of materials that require a reading of the Code. Indeed, he used excerpts from the Report-Digest to acquaint students with the courts' interpretations of the Code rather than requiring the reading of cases. His examination procedure, generally giving students involved fact patterns with facsimile documents a week or so before the examination, pushed students to a careful consideration of "raw" facts, and required them to sift through a real life situation before coming to the examination room. Bill's teaching was also marked by his emphasis on policy and the effect that individual cases and statutes had on individuals and upon the economy.

Bill's generosity, particularly to his students and to those less fortunate, is known to few. He made little, for example, of the fact that all of the royalties earned by the Reporter-Digest go to the Boston College Publications Trust. For him, it was just natural that he would invite students with whom he worked to his home, and take them with him on trips to Washington and to New York when he was participating in lobbying or negotiations about this book. His students were his children, children whom he respected and from whom he constantly learned, because he was willing to listen.

If be were asked which of his accomplishments he treasured most, he would say that he hoped that he helped some students learn about the life of lawyering, and about how to use the talents and opportunities that had been given to them. Those who watched Bill must have learned. They had the best possible role model.

iii (Rel. 193-3/2015 Pub.747)

(Rel. 193-3/2015 Pub.747)

How to Use This Publication

Reporter-Digest is a primary source for researching issues under the Uniform Commercial Code. Comprising Volumes 6 through 6R of Bender's Uniform Commercial Code Service, Reporter-Digest is divided into two parts as described below.

Part 1: Legislative

Volumes 6, 6A Part 1, 6A Part 2, 6A Part 3, 6A Part 4

Volumes 6, 6A Part 1, 6A Part 2, 6A Part 3 and 6A Part 4 provide the Official U.C.C. Text and Comments, as well as various research tools, including the Permanent Editorial Board Commentaries on the Uniform Commercial Code. Code Articles appear chronologically. Became of the substantial nature of the nvisions to Article 6 in 1989, Articles 3 and 4 in 1990 and 2002, Article 8 in 1994, Article 5 in 1995, Article 9 in 1999, Article 1 in 2001, and Articles 2, 2A and 7 in 2003, the nvised and amended l'e,"Sions of these Articles appear separately preceding the pre-nvision l'ersions. Each Code section

includes the following:

-Code Text. Boxes highlight the 1962 or otherwise, if later, original Code Text. ff the section has been amended, each amended version appears in a separate box with deletions noted by brackets and additions

indicated by italics.

-0/ficial Comment. Following the Code Text for each section is the Official Comment.

-State Variations. Variations from the Official Text for Articles 8, 10 and 11 appear in alphabetical order by state following the section. State variations for all other Articles are included in a separate section following the Article and are listed alphabetically by state.

Part 1 also includes an Index as a research tool following the ''Index" tab card in Volume 6A part 3:

-Index. This is a topical index to the 1989 Official Text of the Uniform Commercial Code. Because not all states have adopted the 1990 revision of Articles 3 and 4, the 1989 revision of Article 6, the 1994 revision of Article 8, the 1995 revision of Article 5, the 2001 revision to Article l, and the 2003 revision to Article 7, the Index includes references to the pre-1990 versions of these Articles, with references to the revised versions preceded by the notation ''Rev." In addition, references to the 1990 amendments to Article 2A are followed by the notation "(1990)"; the 2002 amendments to Articles 3 and 4 by the notation "(2002)"; and the 2003 amendments to Articles 2 and 2A by "(2003)."

Part 2: Case Annotations

Volumes 6B through 6R

The second part of Reporter-Digest contains annotations of important U.C.C. cases, arranged by Code section. Case annotations under the revised versions of Articles 1, 3, 4, 5, 8 and 9 appear as a separate

section before the pre-revision version of the Article. Each Code section includes the following:

-Cases Reported. Each section begins with a table of Cases Reported. This table lists alphabetically key words and phrases under the section and refers to the specific annotations in which those terms are discussed.

-Jurisdictional Index. This Index lists the annotated cases by federal district and state.

-Text References. Where applicable, citations direct readers to relevant discussions in other MatthewBender publications.

-Selected Periodicals. Some sections include a table of relevant Selected Periodicals. Articles are listed alphabetically by author. Student Comments appear separately.

-Case Annotations. Case annotations appear chronologically. Each case annotation includes: (1) the case name; (2) the case citation; (3) key words and phrases, corresponding to the table of Cases Reported

v (Rel 193-312015 Pub.747)

How to Use This Publication

at the beginning of the section; (4) a summary of the facts and holding of the case; and (5) for some annotations, a Comment by the editors.

The U.C.C. continues to generate a vast amount of case law. To both facilitate research and manage the growth of the publication, entire sections are updated and revised on an on-going basis. Revisions highlight leading cases, eliminate redundant holdings and make room for new annotations. Revised sections contain the same elements as other sections noted above, except that at the beginning of each revised section is a blue note sheet that notes which former annotations in the section have been deleted

and where retained annotations appear in the revised section.

Following all of the Case Annotations, at the end of Volume 6R, is a Table of Cases which refers to all cases annotated or cited in the publication.

vi (Rel 193-3/2015 Pub.747)

,,

Publication Table of Contents

Uniform Commercial Code Reporter-Digest

LEGISI.ATNE

VOLUME6

PED Commentaries on the Uniform Commercial Code

Article 1 (Revised)

Article 1 (pre-2001)

Article 1 - State Variations

• Article 2 (2003)

Artlcle2

Article 2 - State V ariatlons

VOLUME 6A Part 1

Article 2A (2003)

Artlcle2A

Article 2A - 1990 Amendments

Article 2A - State Variations

Article 3 (2002)

(Rel, 187-9/2013 Pub,747)

Article 3 (1990)

Article 3 (pre-1990)

Article 3- State Variations

VOLUME 6A Part 2

Article 4 (2002)

Article 4 (1990)

Article 4 (pre-1990)

Article 4 - 1990 Amendments

Article 4 - State Variations

Article4A

Article 4A - State Variations

Article 5 (Revised)

Article 5 (pre-1995)

Article 5- State Variations

Article 6 (Revised)

Article 6 (pre-1989)

Article 6 - State Variations

Revised Article 7

Article 7

Article 7 - State Variations

(Rel. 187-9/2013 Pub.747)

VOLUME 6A Part 3

Article 8 (pre-1994)

Article 8 (Revised)

Article 9 (pre-1999)

• Article 9 - 1962 Comments and 1972 Amendments

Article 9 (pre-1999) -State Variations

VOLUME 6A Part 4

Article 9 (Revised)-State Variations

• Article 10

Article 11

Index

CASE ANNOTATIONS

Volume6B

Article 1 (Revised)

Article 1: Sections 1-101 through 1-201(20)

3 (Rel. 187-9/2013 Pub.747)

Volume6C

Article 1: Sections 1-201(21) through 1-209

Volume 6C Part 2

Article 2: Sections 2-101 through 2-203

Volume6D

Article 2: Sections 2-204 through 2-309

Volume 60 Part 2

Article 2: Sections 2-310 through 2-318

Volume6E

Article 2: Sections 2-319 through 2-602

Volume6F

Article 2: Sections 2-<i03 through 2-617

Volume 6F Part 2

Article 2: Sections 2-701 through 2-714

4 (Rel. 187-9l2013 Pub.747}

Volume6G

Article 2: Sections 2-715 through 2-803

Article2A

Volume6H

Article 3 (Revised)

Article 3 (pre-1990): Sections 3-101 through 3-208

Volume61

Ardcle 3 (pre-1990): Sections 3-301 through 3-404

Volume6J

Article 3 (pre-1990): Sections 3-405 through 3-805

Volume6K

• Article 4 (Revised)

Article 4 (pre-1990)

Article4A

Volume6L

• Article S (Revised)

(Rel. 187-9/2013 Pub.747)

Article 5 (pre-1995)

Artlcle6

Article 7

Article 8 (Revised)

Article 8 (pre-1994)

Volume6M

Article 9 (Reviled)

Volume 6M Part 2

Article 9 (pre-1999): Sections 9-101 through 9-115

Volume6N

Article 9 (pre-1999): Sections 9-201 through 9-208

Volume60

Article 9 (pre-1999): Sections 9-301 through 9-306

Volume6P

Article 9 (pre-1999): Sections 9-307 through 9-402

6 (Rel 187-9/2013 Pub.747)

Volume6Q

Artlele 9 (pre-1999): Sections 9-403 through 9-504

Volume6R

Artlde 9 (pre-1999): Sections 9-505 througb 9-605

Artlcle 10

Artidell

Table of Cases

7 (Rd. 187-9/2013 Pub. 747)

�-------.................... ......