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About the Teleseminar
Promissory notes are one of the basic tools of transactional practice. They are used to facilitate a range of business and real estate transactions, including M&A, real estate capital improvements and startup finance. But the continuing credit crunch is putting renewed importance on careful drafting and management of promissory notes. With a growing number challenges to the enforceability of promissory notes, particularly in real estate transactions, drafting effective notes is essential to the successful completion of a business or real estate transaction. This program will cover drafting the essential provisions of promissory notes to ensure enforceability, the application of UCC Article 5/Negotiable Instruments, transferability and creditor pledge issues, recent challenges to the enforceability of notes, and much more.
- Drafting effective and enforceable promissory notes in business and real estate transactions
- Essential terms and structure of notes – term and demand notes
- Compliance with UCC Article 5/Negotiable Instruments when drafting promissory notes
- Transferability of notes and creditors taking pledge in notes
- Recent developments involving promissory notes and the mortgage crisis
About the Speaker
John Murdock is a partner in the Nashville office of Bradley Arant Boult Cummings, LLP, where his practice includes business acquisitions and dispositions, commercial lending, and commercial law generally. He is a member of the Commercial Financial Services Committee of the ABA Business Law Section and formerly served as chair of its Lender Liability Subcommittee. He is also a Fellow of the American College of Commercial Finance Lawyers. Mr. Murdock received his B.S., magna cum laude, from Vanderbilt University and his J.D. from Vanderbilt University Law School.
Mandatory MCLE Credit Hours
This seminar qualifies for 1.0 MCLE credit hour (Tentative)