INTERNATIONAL REAL ESTATE FINANCE

THE WORLD AS WE KNOW IT…..

3 x 5 CARDS

• Name• Contact info• Year in school / major• Advanced degrees?• Experience with Property• Three adjectives that describe you• Most interesting thing you’ve done that

you’re willing to share• Favorite book, movie, restaurant• Anything else I should know

NAME PLATE

PLEASE WRITE WHATEVER NAME YOU’D LIKE ME TO USE ON THE NAME PLATE AND KEEP IT IN FRONT OF YOU IN ALL OUR CLASSES!

Professor Cynthia Mertens

About me: Education:– Stanford B.A.– University of California Hastings College of Law: J.D.

Professor of Law – Santa Clara University since 1975

NOW – it’s your turn….

•Name•Where you’re from•How you learned Eng.

• Adjectives that describe you….

• Year in school and where

Legal Education in the United States

ABA-Approved Law Schools

A total of 202 institutions are ABA-approved

Santa Clara Law Grads include….LEON PANETTA – former Secretary of Defense and CIA Director

PUBLICSERVANTS

ZOE LOFGREN – U.S. House of RepresentativesJUSTICE EDWARD PANELLI – Retired Calif. Supreme Court Justice

and Business Leaders…..

Dorian Daley, ’86Senior Vice President, General Counsel and Secretary, Oracle

Mike Dillon ’84General Counsel, Senior Vice President, Corporate Secretary of Sun Microsystems

Bonnie MacNaughton, Senior Attorney, Microsoft

Professor Colleen Chien was one of five witnesses that testified on April 17, 2013 House Judiciary Committee's Courts, Intellectual Property and the Internet Subcommittee hearing on “Abusive Patent Litigation: The Issues Impacting American Competitiveness and Job Creation at the International Trade Commission and Beyond”.

Congratulations to SCU Law Professor and HTLI Director, Eric Goldman, for being named a North American IP Thought Leader by Managing Intellectual Property - 2nd year in a row!

SCU Law is ranked #3 in Intellectual Property Law in U.S. [U.S. News & World Report]

More Santa Clara Professors

• Beth Van SchaackIn 2012, Professor Van Schaack was appointed Deputy to U.S. Ambassador-At-Large for War CrimesIssues in the U.S. State Department’s Office of Global Criminal Justice. She is on leave from the University.Expertise: human rights, transitional justice, international criminal law, public international law, international humanitarian law.

• Cathy SandovalSanta Clara Law Professor Catherine Sandoval was named by Gov. Jerry Brown to serve on the California Public Utilities Commission. She is on leave from theUniversity.

How are law students taught in the U.S.?

• Socratic method• High level of participation• Demonstration – Paper Chase

HOW WE LEARN…..

• Active learning: We learn:• 10% of what we read• 20% of what we hear• 30% of what we see• 50% of what we both hear and see• 70% of what is discussed with others• 80% of what we experience personally• 95% of what we teach someone else

GENERAL INFORMATION

• CLASS OBJECTIVES• COMPUTER USE• PARTICIPATION

• AVAILABILITY• GRADING

Court structure: Federal Courts

WHAT DO YOU KNOW ABOUT THE U.S. LEGAL SYSTEM?

• Sources of Law?

Diagram of the Federal Court System

Federal Districts

State Courts

WHAT DO YOU KNOW ABOUT PROPERTY?

• How many have entered into a lease?• How many know someone who owns real estate?

– Who is on title?• What experience have you had with real estate?

-and-

What do YOU hope to learn from this course?

OVERVIEW OF COURSE

• Introduction:– Common law approach– Sources of law– Court structure in U.S.

• A simple real estate transaction in the U.S.(basis for understanding how these affect the global economy)

From there to International Real Estate Finance

• Look at what caused the global crisis in 2007.– Examine articles, websites, youtube videos, etc.• Look at steps countries are taking to

prevent future crises.• Examine the present world situation and

the impact of real estate on the economy.

SOME PRELIMINARY CONCEPTS FIRST

JurisdictionMandatory v. Persuasive Authority

Common Law

[Pgs. 2-3]

Mandatory v. Persuasive - pg. 3

COMMON LAW – PG. 4

• Court precedent rules!

• “Judge-made” law = case law

• Listen to the beginning of an oral argument in the Napster case…. but first see how

Napster works…

Then on to oral argument!

From a NY Times 2001 article:

A Federal appeals court dealt a major setback today to Napster, the start-up that has shaken the record industry by allowing millions of people to copy music free over the Internet, by largely affirming a lower-court ruling that the company encourages and abets the wholesale infringement of copyrights.

What we do as lawyers [pg. 7]

• Factual investigation• Counselor• Negotiator• Litigator

Three Planes Learn to think on 3 planes simultaneously

Look at horizontal plane too - past & future

Facts

Law

Policy

Assignment for Tues.

• Read through pg. 38 of materials.

• Find an article regarding real estate finance on the web and be ready to share it with the class.