Publication Date
12-1986
Journal
Minnesota Law Review
Abstract
The article argues that the priority rules under Article 9 of the Uniform Commercial Code (UCC) are not grounded in a coherent, rational principle but are instead the result of historical accidents and the influence of powerful interest groups. These rules create an asymmetrical system that favors expert lenders over amateur lenders, leading to inequities and inefficiencies. The author critiques justifications for these rules, such as efficiency and moral culpability, and advocates for a more ethical and equitable framework that aligns with societal notions of fairness.
Volume
71
Issue
2
First Page
207
Last Page
268
Publisher
University of Minnesota Law School
Disciplines
Commercial Law | Law | Securities Law
Recommended Citation
David G. Carlson,
Rationality, Accident, and Priority Under Article 9 of the Uniform Commercial Code,
71
Minn. L. Rev.
207
(1986).
https://larc.cardozo.yu.edu/faculty-articles/1228
