This course provides an in-depth study of secured transactions under Article 9 of the Uniform Commercial Code (UCC), which governs security interests in personal property and fixtures. Students will explore how credit is secured through collateral, how security interests are created and perfected, and how disputes between creditors—and between creditors and debtors—are resolved.
The course emphasizes not only doctrinal comprehension but also practical applications relevant to commercial law, finance, asset-based lending, and bankruptcy. It will examine the relationship between secured transactions and other areas such as debtor-creditor law, sales, negotiable instruments, and federal bankruptcy law. Students will be trained to read and interpret Article 9 text closely, as well as to understand policy rationales and risk-allocation strategies that drive modern secured financing.
Course Objectives
By the end of this course, students will be able to:
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Understand the structure, purpose, and operation of Article 9 of the UCC.
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Identify when and how security interests are created, perfected, and enforced.
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Distinguish among different types of collateral classifications and filing requirements.
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Analyze priority disputes among secured parties, buyers, lien creditors, and trustees in bankruptcy.
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Interpret the UCC’s statutory language, and apply it to both litigation and transactional problems.
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Recognize how secured transactions intersect with bankruptcy law, consumer credit, and business lending.
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Draft and critique basic secured lending documentation with awareness of legal and strategic risks.
