Commercial Paper: Drafting Short-Term Notes to Finance Company Operations - Audio Webcast
July 2017
Commercial Paper: Drafting Short-Term Notes to Finance Company Operations
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Program Description:
Promissory notes are among the most common forms of commercial paper used in business and commercial transactions. They are used to finance transactions and fund operations. Their creation and exchange are also governed by UCC Article 3, which defines what constitutes an enforceable note and the rights and obligations of the parties to the note and on the exchange of the note. Careful compliance with the Article 3 when drafting a note is necessary to ensure the benefit of the underlying bargain and preserve creditor rights. This program will provide you with a practical guide to drafting promissory notes, a framework for understanding the rights and obligations of the parties to the transaction, and tips to avoid common enforceability traps.
- Drafting promissory notes/commercial paper under UCC Article 3
- Most essential provisions to ensure/enhance enforceability
- Rights of parties on the transfer of notes, including transferees in “due course”
- Implied warranties when transferring a promissory note
- Collection issues, including statutes of limitation
- Payment and discharge of notes
- Credit enhancements, including guarantees
Faculty:
Steven O. Weise is a partner in the Los Angeles office Proskauer Rose, LLP, where his practice encompasses all areas of commercial law. He has extensive experience in financings, particularly those secured by personal property. He also handles matters involving real property anti-deficiency laws, workouts, guarantees, sales of goods, letters of credit, commercial paper and checks, and investment securities. Mr. Weise formerly served as chair of the ABA Business Law Section. He has also served as a member of the Permanent Editorial Board of the UCC and as an Advisor to the UCC Code Article 9 Drafting Committee. Mr. Weise received his B.A. from Yale University and his J.D. from the University of California, Berkeley, Boalt Hall School of Law.
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ACCREDITATION INFORMATION:
Each Audio Webcast has been submitted for 1 (or 2) General CLE Credit(s). Courses with an Ethics Component have been submitted for Ethics Credits accordingly.
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Each program will run from 11:00 a.m. to 12:00 p.m. M.T. (60 minutes each).
Registration Fees
| Non Member | $69.00 |
| CBA Member | $49.00 |
| CBA Business Law Section Member | $39.00 |
| CLE ELITE Pass Holders | $0.00 |
- General Credits: 1.00
- Ethics Credits: 0.00
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Access Timely Topics and National Experts with CBA-CLE 1-Hour Audio Webcasts