Commercial Transactions

Abstract

The Texas Legislature emerged as the major player in the area of commercial law during the 1995 Survey period. The last legislative session marked not only the thirtieth anniversary of the first adoption of the Uniform Commercial Code in Texas, but also the adoption of the most significant set of changes yet made to the Texas version of the Code. The changes included a new Chapter 3 on Negotiable Instruments, a substantially revised Chapter 4 on Bank Deposits and Collections, a new Chapter 8 on Investment Securities, and conforming amendments to Chapter 9 on Secured Transactions. Because of the extensive nature of these changes, discussion of the various revisions has been divided between this Article and the Banking Law Survey contained elsewhere in this volume. This Article includes coverage of changes made in Chapters 8 and 9, as well as some miscellaneous changes made in other Chapters of the Code. The Banking Law Survey covers changes made in Chapters 3 and 4.