This advanced seminar will address current topics in commercial law. The primary focus will be on the commercial law of the mortgage crisis. The mortgage crisis resulting from the financial instability of the last several years has been a human tragedy and an economic watershed. From a legal perspective, it has also exposed many previously-obscured issues relating to the intersection between commercial law principles (particularly those found in the Uniform Commercial Code) and real estate law. The seminar will examine closely the commercial law principles that govern mortgage notes and the mortgages that secure them. Some of those principles, when examined rigorously, yield clear and unambiguous results; others, however, do not, leaving courts to fill the vacuum in what has become a politically charged arena. If time permits, the seminar will also address issues relating to the increased internationalization of commercial transactions and the dramatic growth in international commercial law that has followed it.Grading and Method of Evaluation
Letter Grade only. A paper is required.