Reconsidering the application of the holder in due course rule to home mortgage notes

In this paper we investigate the history of negotiable instruments and the holder in due course rule and contrast their function and consequences in the 1700s with their function and consequences today. We explain how the holder in due course rule works and identify ways in which the rule’s application is limited in some consumer transactions. In particular, we focus on laws limiting application of the rule to some home mortgage loans. We investigate Lord Mansfield’s original justification for the rule as a money substitute, the lack of explicit justification of the rule by the drafters of the Uniform Commercial Code in the 1950s, the contemporary justification of the rule as a means of increasing the availability and decreasing the cost of credit, and the concerns of legislators and regulators about lack of consumer knowledge, bargaining power, and financial resources which caused them to limit the application of the holder in due course rule to some consumer transactions. We conclude that changes in policy justification, parties to negotiable instruments and the structure of the home mortgage market call for a reconsideration of the continuing appropriateness of holder in due course protection for assignees of home mortgage notes. We suggest further analysis based on economic theory and review of empirical research in order to formulate policy recommendations.Mortgage loans ; Holder in due course

Finding the Fit Between Housing Strategies and Housing Consumers

The housing crisis stripped many families of their wealth, especially those in communities of color. This presentation will examine when and for whom homeownership is the right wealth building strategy

A King Who Devours His People: Jiang Zemin and the Falun Gong Crackdown: A Bibliography

In July 1999, the government of the People’s Republic of China (PRC) and the Chinese Communist Party (CCP) began an official crackdown against the qigong cultivation group known as Falun Gong. Intended to quickly contain and eliminate what the PRC considers an evil or heretical cult (xiejiao), the suppression has instead created the longest sustained and, since the Tiananmen Square protests of June 1989, most widely known human rights protest conducted in the PRC. The Falun Gong has received worldwide recognition and support while the crackdown continues to provoke harsh criticism against the PRC as new allegations of human rights violations arise. Because of its international notoriety, the Falun Gong crackdown has generated significant academic research and governmental interest. Scholars from the fields of sociology, psychology, political science, law, journalism, religious studies, and anthropology have all contributed to the academic discourse. Governmental and non-governmental organizations such as Amnesty International, Human Rights Watch, and the U.S. Congressional-Executive Commission on China keep a close watch on the development of the rule of law and human rights in China and issue reports on the same. The media coverage given to the Falun Gong has produced thousands of articles since the suppression began in 1999. This article provides a brief history of the Falun Gong crackdown and a bibliography of English-language materials. Included in these materials are: treatises; articles; U.S. government publications; reports of NGOs, IGOs, and other organizations; newspaper and press reports; Falun Gong websites; and translations of PRC laws and regulations affecting religious activities and the Falun Gong. Falun Gong websites and materials mainly devoted to the practice of Falun Dafa (apart from the two main texts Zhuan Falun and Falun Gong) are not included; likewise, websites mainly soliciting support for the Falun Gong and its practice have been omitted. All websites included in this bibliography are publicly accessible