This paper related four topics:i) why is there such a strong movement to harmonize private, commercial law and in particular the law of secured transactions at this time, and what are some of the characteristics of hamonization efforts; ii) the body paper proposed revisions to UCC Article 8, the...

The purpose of this paper is to outline the basic economic logic underlying the guaranty relationship- its costs and benefits, and what distinguishes it from other financial arrangements for which it is a substitute.

Standard form contracts are an inevitable by-product of a mass production economy. Just as fixed costs and scale economies in production lead manufacturers to develop standardized goods, those regularly engaged in business find it advantageous to standardize the terms of which they product...