Fall 2019 Course Schedule

Secured Transactions (LAW-840-002)
Richard Pollak

Meets: 06:00 PM - 08:50 PM (Th) - Warren - Room NT07

Enrolled: 25 / Limit: 65

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For the past 35 years I have worked primarily as an Article 9 transactional lawyer representing both secured parties (lenders) and borrowers in a wide range of lending transactions from the creation of effective liens through the foreclosure and enforcement of a secured party’s rights. When I took Secured Transactions in law school it did not prepare me for the realities of transactional practice. This course is designed to acquaint the student with the practical issues which most transactional lawyers will face along with an overview of the rules which govern the ability of creditors to secure loans with personal property and what happens when a creditor seeks to enforce its rights with respect to such personal property. In addition, bankruptcy and common law principles impact this framework.

Students will gain practical experience and exposure to reading and understanding UCC provisions, reading and understanding forms (security agreements, financing statements and others) and how to handle basic secured transactions for corporate clients and financial institutions.

The course will introduce students to the process to create, perfect and preserve liens on personal property. Students will learn how various liens are prioritized and how liens are enforced by creditors, including how to conduct an effective foreclosure sale on collateral. We will also discuss assets which fall outside of the scope of the UCC and how these assets are handled. Basic principles of finance and business will also be discussed.

No prior knowledge of business, finance, economics, or bankruptcy is required. The topic is covered in many state bar exams.

Textbooks and Other Materials

The textbook information on this page was provided by the instructor. Students should use this information when considering purchases from the AU Campus Store or other vendors. Students may check to determine if books are currently available for purchase online.

1. Students are required to use David G. Epstein, Steve H. Nickles and Edwin E. Smith’s, Uniform Commercial Code Article 9: Secured Transactions published by West Academic Publishing. The ISBN for the course book by itself is 978-1-64242-188-0.

2. You will also need a copy of Article 9 of the Uniform Commercial Code. I use a copy of the complete UCC published by Thompson Reuters. The ISBN for this is 978-0-314-84618-1. However, this is probably more than you need as this has the entire UCC.

First Class Readings

Not available at this time.


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