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Agriculture Bankruptcy & Marshalling of Assets

Agriculture Bankruptcy & Marshalling of Assets

General marshaling principles. The equitable doctrine of marshaling rests upon the principle that a creditor having two funds to satisfy his debt should not be permitted to arbitrarily prejudice a junior creditor who may resort to only one of the funds. Meyer v....

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Filing Financing Statements and Determining Priority

Filing Financing Statements and Determining Priority

Determining Priority in Perfected Security Interests Who's on first? This question decides what creditor gets paid, and what becomes an unsecured creditor whose best option is to recover pennies on the dollar for the money loaned to a business that purportedly had...

read more
What is an Agricultural Lien under the UCC?

What is an Agricultural Lien under the UCC?

What is a UCC Agricultural Lien As we detailed in our introductory article on security interests, a security agreement gives a creditor some form of legal right over the property of a creditor. While this definition is fairly straightforward, there are all kinds of...

read more
How Do You Perfect a Security Interest in Agriculture?

How Do You Perfect a Security Interest in Agriculture?

A “security agreement” is defined by the Uniform Commercial Code (UCC) as “an agreement that creates or provides for a security interest.” 810 ILCS 5/9-102(a)(74). A security agreement is “effective according to its terms between the parties, against purchasers of the...

read more
Illinois Cannabis Zoning Laws

Illinois Cannabis Zoning Laws

Illinois Cannabis Zoning Laws depend greatly on the local governments that are placing "reasonable" restrictions on their community's cannabis businesses that may operated in their jurisdictional limits. Many communities require a "special use permit" for having...

read more
Why Do You Need a Buy Sell Agreement Lawyer

Why Do You Need a Buy Sell Agreement Lawyer

If you are building a business while you form a partnership, you will need help from a  buy sell agreement lawyer. Signing a buy sell agreement with the partner will protect you from unexpected situations and legal issues. That is why a buy sell agreement lawyer can...

read more
Commercial Mortgages

Commercial Mortgages

Commercial Mortgage Foreclosure The main collateral for many people and businesses is the real estate it owns. A commercial mortgage is a grant of a security interest on a parcel of the business' real estate. Commercial mortgages allow for greater rights for the bank...

read more
Pricing LLC Membership Interest

Pricing LLC Membership Interest

LLC Membership Interests Suppose a borrower claims to have a successful limited liability company, LLC.  He claims that his membership interest in this LLC is valuable collateral that he wants to pledge to obtain another commercial loan. How should the commercial...

read more
Agriculture Bankruptcy & Marshalling of Assets

Agriculture Bankruptcy & Marshalling of Assets

General marshaling principles. The equitable doctrine of marshaling rests upon the principle that a creditor having two funds to satisfy his debt should not be permitted to arbitrarily prejudice a junior creditor who may resort to only one of the funds. Meyer v....

read more
Filing Financing Statements and Determining Priority

Filing Financing Statements and Determining Priority

Determining Priority in Perfected Security Interests Who's on first? This question decides what creditor gets paid, and what becomes an unsecured creditor whose best option is to recover pennies on the dollar for the money loaned to a business that purportedly had...

read more
What is an Agricultural Lien under the UCC?

What is an Agricultural Lien under the UCC?

What is a UCC Agricultural Lien As we detailed in our introductory article on security interests, a security agreement gives a creditor some form of legal right over the property of a creditor. While this definition is fairly straightforward, there are all kinds of...

read more
How Do You Perfect a Security Interest in Agriculture?

How Do You Perfect a Security Interest in Agriculture?

A “security agreement” is defined by the Uniform Commercial Code (UCC) as “an agreement that creates or provides for a security interest.” 810 ILCS 5/9-102(a)(74). A security agreement is “effective according to its terms between the parties, against purchasers of the...

read more
Illinois Cannabis Zoning Laws

Illinois Cannabis Zoning Laws

Illinois Cannabis Zoning Laws depend greatly on the local governments that are placing "reasonable" restrictions on their community's cannabis businesses that may operated in their jurisdictional limits. Many communities require a "special use permit" for having...

read more
Why Do You Need a Buy Sell Agreement Lawyer

Why Do You Need a Buy Sell Agreement Lawyer

If you are building a business while you form a partnership, you will need help from a  buy sell agreement lawyer. Signing a buy sell agreement with the partner will protect you from unexpected situations and legal issues. That is why a buy sell agreement lawyer can...

read more
Commercial Mortgages

Commercial Mortgages

Commercial Mortgage Foreclosure The main collateral for many people and businesses is the real estate it owns. A commercial mortgage is a grant of a security interest on a parcel of the business' real estate. Commercial mortgages allow for greater rights for the bank...

read more
Pricing LLC Membership Interest

Pricing LLC Membership Interest

LLC Membership Interests Suppose a borrower claims to have a successful limited liability company, LLC.  He claims that his membership interest in this LLC is valuable collateral that he wants to pledge to obtain another commercial loan. How should the commercial...

read more

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