By: Serge Filatov, Esq. Standby letters of credit are irrevocable agreements for the payment of money. They function like guarantees of obligations and are usually provided by a bank for the benefit of a beneficiary. Standby letters of credit are governed by Article 5...
By: Jack Easterbrook, Esq. Loan documents used by institutional lenders always have a description of collateral in a secured loan transaction. But what happens when a lender tries to use an “old” security agreement, initially agreed upon and signed in connection with an earlier...
By: Serge Filatov, Esq. A mistake that I often see inexperienced lenders make when making secured loans is that they do not take all the steps necessary to become a secured creditor. There are numerous traps for the unwary and people should be careful...
By: Jack Easterbrook, Esq. The enforceability of the guaranty of a commercial real estate loan is a question presented to the courts with regularity. A new case, LSREF2 Clover ** testing whether a lender can enforce its guaranty, was decided by a California Court...
By: Jack Easterbrook The lender gets loan documents signed by the borrower and takes collateral from the borrower to secure the debt. It sounds easy and familiar. So what could go wrong? The progression of cases interpreting the Uniform Commercial Code (UCC) provides insight...
The lender gets loan documents signed by the borrower and gets collateral to secure the debt – that is, a lien on the borrower’s property. It sounds easy and familiar. So what can go wrong here? The progression of cases interpreting the Uniform...
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