The below introduction is excerpted from a piece originally featured in the spring 2022 edition of The ALI Reporter. The complete article is available here. Tentative Draft No. 2 of Restatement of the Law, Consumer Contracts will be presented to ALI membership at the 2022 Annual Meeting in May. The contents of this draft are not the position of The American Law Institute and should not be represented as such until they are approved by vote by ALI membership. To request copies of Tentative Drafts approved by ALI membership, please email communications@ali.org

The members of The American Law Institute will consider Tentative Draft No. 2 of the Restatement of the Law, Consumer Contracts at the 2022 Annual Meeting. The Restatement, Tentative Draft No. 1, was considered at the 2019 Annual Meeting. As the Reporters state in their Reporters’ Memorandum for TD No. 2, since the 2019 Annual Meeting, the Reporters have considered the motions and comments made in connection with the 2019 Annual Meeting and subsequent court decisions, comments, articles, blogs, and other sources of input. Tentative Draft No. 2 adopts and implements a wide array of those contributions.

The table here identifies key changes made to the black letter since the 2019 Annual Meeting. There are also a few observations referring to the Comments.

Emphasis has been added to direct attention to relevant words. The markings do not show changes from earlier drafts.

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Steven O. Weise

Steven O. Weise is a partner in the Corporate Department at Proskauer Rose, Los Angeles. He practices in all areas of commercial law.Steven’s experience in financing is extensive, especially in those secured by personal property, including structured financing. He also handles matters involving California real property anti-deficiency laws, workouts, guarantees, sales of goods, equipment leasing, commercial paper and checks, letters of credit, and investment securities. Steven’s experience covers e-commerce, contract law (including “plain English” drafting), legal opinions, and consumer credit law compliance matters. In addition, Steven lectures widely on commercial law topics and legal opinion letters and is the author of over 100 articles on these topics.

 

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