Secured Transactions

This course examines the rules governing transactions in which personal property is used as collateral to secure an obligation. This body of law, which applies to transactions as commonplace as an automobile loan and as commercially sophisticated as the multimillion dollar securitization of receivables, addresses not only the rights of the debtor and creditor but also the rights of third parties that may have an interest in the collateral. The primary source of authority is Article 9 of the Uniform Commercial Code, but the United States Bankruptcy Code is also utilized when applicable. Students electing this course may not enroll in the combined course of Commercial Transactions: Sales and Secured Transactions.

Grading and Method of Evaluation:
Letter grade only. Final exam.