The unjust enrichment doctrine: an expanded definition threatens the rights of secured lenders
Article Abstract:
The Colorado Supreme Court held in Ninth District Production Credit Ass'n v. Duggan, Inc that the plaintiff, a secured creditor, was unjustly enriched by letting the unsecured creditor supply goods which enhanced the value of the collateral while increasing their claim. Thus the association's inaction was held to constitute encouragement under the unjust enrichment doctrine. Future secured lenders might want to decrease their Duggan risk by obtaining the borrower's consent to disclose information to suppliers or by giving the borrower's suppliers disclaimer notices.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 1993
User Contributions:
Comment about this article or add new information about this topic:
Purchase money lending under Revised Article 9: teaching an old dogma new tricks
Article Abstract:
Revised Article 9 of the Uniform Commercial Code has new rules covering the security interests of purchase money lenders. These rules result in stengthening the position of secured lenders.
Publication Name: Uniform Commercial Code Law Journal
Subject: Law
ISSN: 0041-672X
Year: 2003
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: The four doctrines of self-executing treaties. Breard and treaty-based rights under the consular convention. Breard and the federal power to require compliance with ICJ orders of provisional measures
- Abstracts: The ERISA preemption doctrine and the assignment of employee welfare plan benefits. Of scrivener's errors, walk-in CAP, and the correction of "inadvertent plan document failures"
- Abstracts: The rule of reason after California Dental. Farewell to the quick look: redefining the scope and content of the rule of reason
- Abstracts: The corporate officer's independent duty as a tonic for the anemic law of executive compensation. Abolishing veil piercing
- Abstracts: Competition policy, economic development, and the transition to free markets in the Third World: the case of Zimbabwe