Purchases and sales of goods in commerce and the use of personal property as collateral in financing transactions are governed by rules of law codified in what is commonly referred to as the Uniform Commercial Code, or “UCC.” The Uniform Commercial Code has been adopted with local variations in every state in the United States. Betts Patterson Mines attorneys advise business clients who are involved in commercial transactions in understanding the applicable rules and preparing the contract documents that govern the terms of the transaction. We also represent lenders and borrowers in documenting commercial loans secured by personal property, including term loans and commercial lines of credit. Enforcement of lenders’ rights under the loan documents and the protection of debtors in default are an integral part of the commercial transactions practice. BPM also offers assistance to clients involved in international commercial transactions through a network of law firms and attorneys in over thirty foreign countries.
- Assisted development stage manufacturing company in obtaining and documenting initial term loan with private lender secured by personal property for the purpose of business expansion.
- Represented institutional lender in collateralizing and documenting a multi-million dollar credit facility in favor of preferred customer.
- Represented creditor in obtaining additional security consisting of rolling stock and equipment to secure obligations arising under a lease of real property.
- Assisted Seattle based broker in resolving dispute involving sale of nonconforming goods manufactured in Korea.
- Assisted creditor with settlement of multi-million dollar dispute involving purchase and sale of defective goods by collateralizing outstanding debt secured by personal property.