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Abstract:
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Legislative action took center stage in the area of commercial transactions during this Survey period. In its 1999 legislative session, the Texas Legislature not only resuscitated the revised article 5 on letters of credit that failed to pass in the 1997 session, but also became one of the first jurisdictions to enact the revised article 9 on secured transactions. This Article not only includes the traditional discussion of selected cases decided during the Survey period, but also includes a summary (albeit brief) of important changes made by the 1999 legislative revisions |
