General Provisions [Table of Contents] [Subpart 1. The term includes health-care-insurance receivables. The term does not include i rights to payment evidenced by chattel paper or an instrumentii commercial tort claimsiii deposit accountsiv investment propertyv letter-of-credit rights or letters of credit, or vi rights to payment for money or funds advanced or sold, other than rights arising out of the use of a credit or charge card or information contained on or for use with the card. The term does not include persons obligated to pay a negotiable instrument, even if the instrument constitutes part of chattel paper.
US-headquartered firms offer higher pay, but far fewer places. Reasons not to work in high-end commercial law Career capital Our view is that the career capital you can accrue as a commercial lawyer is less flexible than nearby alternatives such as consulting.
While law is a respected profession, it does not foster the skills and connections that would be most useful in directly impactful careers, your colleagues and work environment may negatively affect your motivation to help others, and transitioning from commercial law to policy may be harder than commonly assumed.
The following goes into a little more detail. A law degree is a well-recognised and respected credential. Law remains one of the most prestigious professions. However, career capital in commercial law is limited in a number of ways, particularly when compared with the nearby alternative of consulting.
To a lesser extent, skills that are specific to commercial law such as settlement negotiating, deal structuring, and litigation strategy are unlikely to be immediately applicable in other professions. Importantly, commercial law does not seem to foster the generalist research skills and broad policy knowledge that would be useful in many directly impactful career paths.
Colleagues and connections Most of your network is likely to be in the legal and financial sector. While this may be useful for fundraising or transitioning to finance, it is less likely to lead to opportunities for direct impact. In addition, the people you work with and the professional culture you are immersed in may impact on your own values and motivation, and a career in commercial law could negatively affect your motivation to help others.
Exit Opportunities Successful commercial lawyers looking to change careers should not struggle to find employment. And if your aim was to go into consulting, it would be better to do it directly.
One exit option worth considering in more detail is the move from law to politics, as there is a widespread conception that becoming a lawyer is a tried-and-tested route to Parliament.
There is justification for this view. For instance, 89 lawyers were elected as MPs in Even if we control for the fact that MPs are largely drawn from the most highly educated part of the workforce, since there have still been 10 times more lawyers in the House than one would expect if the House were broadly representative solely of the professional and higher managerial segment of the population.
In the UK Parliament since the 8 June electiona total of 62 out of 9. Note that this 9: The ratio of solicitors to barristers in practice is almost 9: Moreover, if we compare this to the some 10, people who work as commercial lawyers, we can see the chance of transitioning from commercial law to Parliament is very slight.
As the graph below shows, the number of lawyers in the House of Commons has been declining since Further, as the numbers of MPs with legal backgrounds has fallen, so the number with a political background has increased.
On the supply-side, lawyers and commercial lawyers in particular may be increasingly less-inclined to stand for parliament given their higher earnings, the reduced status of MPs, and the increasing demands of their job.For the revisions, see U.C.C.
- ARTICLE 9 - SECURED TRANSACTIONS. Part 1. General Provisions [Table of Contents] [Subpart 1. Short Title, Definitions, and General Concepts] [Table of Contents] § SHORT TITLE. This article may be cited as Uniform Commercial .
The UNCITRAL Model Law on International Commercial Arbitration was prepared by UNCITRAL, and adopted by the United Nations Commission on International Trade Law on 21 June In the model law was amended, it now includes more detailed provisions on interim measures.
The model law is not binding, but individual states may adopt the model law by incorporating it into their domestic law. Australasian Legal Information Institute (AustLII), a joint facility of UTS and UNSW Faculties of Law. What's in the Contract Law Summary Notes? Our Contract Law Summary Notes will provide you with a clear and complete synthesis of the most important points you need for your Contract Law exam.
The table of contents of our Contract Law Summary Notes is shown below. About practice notes.
Practice notes are for our members and represent our view of good practice in a particular area. Following the advice in these practice notes will make it easier to account to oversight bodies for your actions.
The CPCU is the ‘gold standard’ designation; it holds tremendous weight and respect in the industry. When I was on the brokerage side of the business, I used my CPCU knowledge every day to better perform in my role.