Noted, inter alia, on the blog report of the ALI Annual Meeting this week (the blog also has reports on other projects being discussed, and noted that the Restatement (3rd) of Restitution is expected to be published in June):

 

The Institute Formally Withdraws the 2003 Amendments to Articles 2 and 2A [of UCC].

Posted By: Kristen D. Adams | May 17, 2011 | 02:30 PM
In response to the fact that no state has adopted the 2003 amendments to UCC Articles 2 and 2A, the Institute voted today to withdraw the amendments formally. PEB Research Director Neil Cohen described this as “a motion to conform the text with reality.” Noting that this is one of the very few areas in which proposed revisions to the Uniform Commercial Code have not been successful, Cohen observed that “this was a project the world just wasn’t ready for.” He noted that this project has had a history fraught with difficulty, recalling the Article 2B and UCITA projects and the debates regarding whether the draft favored consumer interests too heavily. Speakers from the floor, in turn, applauded the Institute for its action, noted that the draft may not have been accepted as law but may nevertheless represent excellent policy that should not be forgotten entirely, and recalled some of the important goals the proposed amendments had sought to address.

Ross Macdonald  (School of Law, Uni of Dundee)