Friday, October 24, 2008
Marc Lane Roark (University of Missouri School of Law) has posted 'Groping Along...Between Things Real and Things Personal' A New Hermeneutic of Fixtures under UCC 9-334 on SSRN. Here's the abstract:
What are the defining characteristics of fixtures under the Uniform Commercial Code? Since the Code's inception, courts have interpreted the fixtures definition as incorporating state law on fixtures. Even after drafters revised the definition away from an explicit incorporation of state realty law, courts continued to interpret the provision as if no change were made. This Article argues that the doctrinal development of fixtures, the drafting attempts to define fixtures provisions, and the current version of 9-334 articulate a definition of fixtures tied to attachment. In reaching that conclusion, the Article proposes a "new hermeneutical reading of 9-334 focusing on (1) the doctrinal movement of fixtures to third-party interests; (2) the inference of meaning found in changes to the fixtures provisions; (3) the lack of discernable intent by the drafters either from the comments or other materials; and (4) a reading of 9-334 that concludes meaning from the provisions, rather than one that redacts meaning depending on the definitional base.
Bonus points for Marc for using "hermeneutic" and "Article 9" in the same sentence.
[Comments are held for approval, so there will be some delay in posting]