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An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.
1 CLE hour
Promissory notes are essential tools of transactional practice. They are used extensively in business, real estate and commercial transactions. They are also frequently and mistakenly thought of as “boilerplate.” But overlooking these documents comes with substantial risks because common drafting and planning errors can make these notes unenforceable under UCC Article 5 governing negotiable instruments. Notes are also commonly bought and sold, and pledged as collateral in transactions among owners of closely held companies. When their complexity is overlooked, their enforceability is easily jeopardized. This program will provide you with a practical guide to drafting and reviewing promissory notes, the rights and duties of parties to notes, significant enforceability issues, and the rights of buyers in due course.
• Drafting promissory notes in transactions
• Ensuring enforceability of promissory notes under UCC Article 5
• Rights and duties of parties to a note – makers, holders, transferees
• Receiving, selling, buying and pledging promissory notes
• Implied warranties when transferring a promissory note
• Collection issues, including statutes of limitation
• Holders in due course – eligibility and rights attaching to it
John Murdock is a partner in the Nashville office of Bradley Arant Boult Cummings, LLP, where his practice includes business acquisitions and dispositions, commercial lending, and commercial law generally. He is a member of the Commercial Financial Services Committee of the ABA Business Law Section and formerly served as chair of its Lender Liability Subcommittee. He is also a Fellow of the American College of Commercial Finance Lawyers. Mr. Murdock received his B.S., magna cum laude, from Vanderbilt University and his J.D. from Vanderbilt University Law School.