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Commercial Transactions: A Systems Approach, Eighth Edition

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Authors
  • Lynn M. LoPucki
  • Elizabeth Warren
  • Daniel L. Keating
  • Ronald J. Mann
  • Robert M. Lawless
  • Pamela Foohey
Series / Aspen Casebook Series
BOOKMARK
Book length
1460 pages
Publication Date
2024-03-27
Edition
Eighth Edition
Description
Table of contents
Preface

Buy a new version of this textbook and receive access to the Connected eBook with Study Center on Casebook Connect, including academic lifetime access to the online ebook with highlight, annotation, and search capabilities. Access also includes practice questions, an outline tool, and other helpful resources. Connected eBooks provide what you need most to be successful in your law school classes.



Commercial Transactions: A Systems Approach explores the nuances of transaction law from a systems’ perspective, examining the infrastructure that supports commercial transactions and how lawyers apply the law in real-world situations. Its outstanding team of co-authors uses an assignment-based structure that allows professors to adapt the text to a variety of class levels and approaches. Well-crafted problems challenge students’ understanding of the material in this comprehensive, highly teachable text.

New to the 8th Edition:

  • 25 new cases, spread across all three major parts of the text
  • Coverage of the July 2022 amendments to the Uniform Commercial Code
  • UCC Article 12, establishing rules for transactions in cryptocurrency and other controllable electronic records
  • Textual material that analyzes the 2022 Amendments to Article 2 and their effect on hybrid transactions, the statute of frauds, and the parol evidence rule

 

Professors and students will benefit from:

  • Easy-to-teach materials with class sessions that flow naturally from bite-sized assignments, each with a problem set
  • Comprehensive Teachers’ Manual that provides answers to every question we ask
  • Accessible authors who are happy to interact directly and on short notice with adopters
  • Assignment structure that makes it easy to select topics for coverage
  • The opportunity for adopters to become characters in the book
  • Information-rich, concise text
  • Clear explanations of the law and institutions– no hiding of the ball
  • Provision of all information students need to solve the problems
  • A focus on the things students need to know to succeed in their future jobs
  • A real-life approach that prepares students for practice
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Detailed Table of Contents Download (PDF)
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Introduction (PDF)
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About the authors
Lynn M. LoPucki
University of California, Los Angeles

Lynn M. LoPucki teaches Business Associations, Secured Transactions, and Comparative Corporate Law. He founded the UCLA-LoPucki Bankruptcy Research Database (BRD) in 1994 and continues to direct it. The BRD collects data on large, public company bankruptcies and disseminates it to bankruptcy researchers throughout the world. LoPucki is an empiricist who writes on a wide variety of subjects. His current project, Repurposing the Corporation, is about corporate purpose and social responsibility. His book, Business Associations: A Systems Approach (forthcoming Aspen Publishing Casebook Series 2020) (with Andrew Verstein), will be the first business associations casebook to be organized functionally rather than by entity type.

His most recently published articles have been on methodology in comparative corporation law (A Rule-Based Method for Comparing Corporate Laws), regulatory competition among the states to sell corporate charters (Corporate Charter Competition), and charter competition as an accelerant of the threat to humanity from artificial intelligence (Algorithmic Entities). LoPucki has written on legal strategy, court system transparency, the application of systems analysis in law, and the impact of judgment-proofing on civil liability. He has published empirical studies on the bankruptcy system, the UCC filing system, the law faculty hiring system, and other subjects. BRD data provided the foundation for two of Professor LoPucki’s books, Courting Failure: How Competition for Big Cases is Corrupting the Bankruptcy Courts (University of Michigan Press, 2005) and Professional Fees in Corporate Bankruptcies: Data, Analysis, and Evaluation (Oxford University Press, 2011) (with Joseph Doherty).

His writings have been published in the Yale Law Journal, Stanford Law Review, University of Chicago Law Review, University of Michigan Law Review, University of Pennsylvania Law Review, Virginia Law Review, Cornell Law Review, Duke Law Journal, and Northwestern University Law Review and many others. VisiLaw, a system developed by LoPucki for marking statutes to make them easier to read, was nominated for an HIIL Innovating Justice Award in 2012. Two annual statutory supplements are now published with VisiLaw markings.

Professor LoPucki uses an empirically based systems approach for policy analysis. He has proposed public identities as the solution to identity theft, court system transparency as the solution to judicial bias, and an effective filing system as the solution to the deceptive nature of secured credit. Professor LoPucki is co-author of two widely used law school casebooks: Secured Transactions: A Systems Approach (with Elizabeth Warren and Robert M. Lawless, 9th edition, 2020) and Commercial Transactions: A Systems Approach (with Elizabeth Warren, Daniel L. Keating, and Ronald Mann, 7th edition, 2020); a leading practice manual: Strategies for Creditors in Bankruptcy Proceedings (with Christopher R. Mirick, 6th edition, 2015); and, a popular series of bankruptcy procedure flow charts: Bankruptcy Visuals. LoPucki’s “Death of Liability” thesis—propounded in a Yale Law Journal article in 1996—has been featured in casebooks in several fields. He is a member of the American College of Bankruptcy and the International Insolvency Institute. Professor LoPucki was a member of the Cornell Law School faculty before coming to UCLA in 1999.

Elizabeth Warren
Harvard University (Emeritus)

Elizabeth Warren is the Leo Gottlieb Professor of Law Emeritus at Harvard University and the senior United States Senator from the Commonwealth of Massachusetts. While in teaching, she twice won the Sacks-Freund Award for Teaching Excellence at Harvard Law School, as well as other teaching prizes at the University of Houston, the University of Michigan, and the University of Pennsylvania. She has written ten books and more than a hundred scholarly articles dealing with credit and economic stress. Warren has been a principal investigator on empirical studies funded by the National Science Foundation and more than a dozen private foundations. Warren served as Chief Adviser to the National Bankruptcy Review Commission. She also served as Vice-President of the American Law Institute, and she has been inducted into the American Academy of Arts and Sciences. During the financial crisis, Warren was the Chair of the Congressional Oversight Panel for the Troubled Asset Relief Program, and she later served as Adviser to the President and Special Adviser to the Secretary of the Treasury to set up the Consumer Financial Protection Bureau.

Daniel L. Keating
Tyrrell Williams Professor of Law
Washington University

Dan Keating teaches and writes in the areas of bankruptcy, commercial law, and UCC Article 2. The author of two casebooks on commercial law, as well as a treatise on the employment law implications of bankruptcy, he has written on such issues as bankruptcy reform and the implication of bankruptcy on collective bargaining agreements, pension insurance, and the Pension Benefit Guaranty Corporation (PBGC). His scholarship also has covered the subject of sales law and practice.

He is an elected member of the American Law Institute and a Fellow of the American College of Bankruptcy. Professor Keating has served three times as interim dean, as well as several years as vice dean or associate dean. He is the recipient of a Washington University Founder’s Day Distinguished Faculty Award and the law school’s Outstanding Professor Award.

Before joining the faculty, he was a John Olin Fellow in Law and Economics while a student at the University of Chicago Law School. Before his teaching career, he practiced law for two years as a bankruptcy attorney with The First National Bank of Chicago. As a community service, he regularly teaches a free ACT prep course to high school students at urban high schools in the Chicago and St. Louis areas.

Ronald J. Mann

Law clerk to Judge Joseph T. Sneed, U.S. Court of Appeals for the Ninth Circuit (1985-1986). Law clerk to Justice Lewis F. Powell, Jr., Supreme Court of the United States (1986-1987). Practiced real estate and transactional law in Houston, Texas (1987-1991). Worked for the Justice Department as an Assistant for the Solicitor General of the United States (1991-1994). Joined the University of Texas faculty in 2003. Assistant professor of law (1997-1999), and professor of law (1999-2003), at the University of Michigan. Assistant professor of law (1994-1997), and professor of law (1997), at Washington University. Visiting professor of law at Harvard in 2005. Joined the Columbia Law School faculty on July 1, 2007, as Albert E. Cinelli Enterprise Professor of Law. Member of the American Law Institute. Recently served as the reporter for the amendments to Articles 3 and 4 of the Uniform Commercial Code.

Robert M. Lawless
University of Illinois College of Law

A nationally recognized expert in bankruptcy law, consumer finance, and empirical legal studies, Robert M. Lawless is the Max L. Rowe Professor of Law. Professor Lawless has published extensively on topics related to financial distress, business and consumer bankruptcy, and the intersection of law and social science. He co-directs the College of Law’s Program on Law, Behavior & Social Science and is a faculty affiliate of the university’s Center for Social & Behavioral Science and Cline Center for Advanced Social Research. Committed to bridging scholarship and real-world policy, Professor Lawless has played a key role in shaping discussions on bankruptcy reform.

Professor Lawless is a co-author of Debt’s Grip: Risk and Consumer Bankruptcy. Scheduled for release in August 2025, Debt’s Grip combines empirical data with personal narratives from bankruptcy filers to document what it means to live in financial precarity. Professor Lawless is also a co-author of leading textbooks in the fields of secured transactions and empirical methods in law. He administers and contributes to the blog Credit Slips, a discussion on credit, finance, and bankruptcy. He is a co-principal investigator in the Consumer Bankruptcy Project, a long-term research project studying persons who file bankruptcy.

Professor Lawless has served in leadership roles in major legal organizations, including the National Bankruptcy Conference and the American College of Bankruptcy. As the reporter for the American Bankruptcy Institute’s Commission on Consumer Bankruptcy (2017–2019), he played a pivotal role in shaping its findings, earning the ABI’s 2019 Annual Service Award. He has testified before the U.S. Senate on consumer protection and bankruptcy reform and has been an influential voice in policy discussions.

Born and raised in Illinois, Professor Lawless earned both his undergraduate degree in accounting and his law degree from the University of Illinois. During law school, he served as editor-in-chief of the University of Illinois Law Review. Before joining the University of Illinois, he taught at the University of Nevada, Las Vegas, and the University of Missouri. He also held visiting professorships at Washington University in St. Louis and The Ohio State University. He began his legal career as a law clerk for the Honorable Harlington Wood, Jr. of the U.S. Court of Appeals for the Seventh Circuit before practicing law in Washington, D.C.

Pamela Foohey

Pamela Foohey is Professor of Law at the University of Minnesota Law School. Specializing in bankruptcy, commercial law, consumer finance, and business law, Foohey’s scholarship primarily involves empirical studies of bankruptcy and related parts of the legal system. She presently is a co-investigator on the Consumer Bankruptcy Law Project, a long-term research project studying persons who file bankruptcy. Data from this research project serve as the basis of her co-authored book Debt’s Grip: Risk and Consumer Bankruptcy, University of California Press (2025). Her work in business bankruptcy focuses on nonprofit entities. Data from this project are included in her forthcoming book Forgive Us Our Debts: How Black Churches Use Bankruptcy to Survive, University of Chicago Press (2026). Leading journals publishing her work include Virginia Law Review, Southern California Law Review, Boston College Law Review, Notre Dame Law Review and Law & Contemporary Problems, among others.

Foohey is a member of the American College of Bankruptcy and the American Law Institute. She has assisted members of Congress and federal and state agencies in the areas of bankruptcy and consumer credit. She has also provided expert media commentary for high profile publications such as The New York Times, Financial Times and The Washington Post, in addition to Bloomberg and National Public Radio.
Product Information
Edition
Eighth Edition
Publication date
2024-03-27
Copyright Year
2024
Pages
1460
Print + eBook
9798889066248
eBook
9798889066255
LLPOD
9798892070447
Audiobook
9798899630347
eBook + Audiobook
9798899634284
Subject
Commercial Law
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