Secured Transactions (LAW-840-002)
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This is a 3-credit course. This course focuses on obligations which are secured by personal property and which are governed by Article 9 of the Uniform Commercial Code. Students are introduced to the creation, perfection, priority, enforcement, and avoidance of security interests, and to the policies underlying Article 9 of the Uniform Commercial Code.
Secured Transactions is tested on most bar exams and is a foundational course necessary in many areas of practice. My approach to teaching Secured Transactions is to teach the course on a very practical basis by looking at real world issues and then applying the principles of Article 9. For this approach to succeed, our time in class will mostly focus on the application of Article 9 to real world fact patterns.
Basic principles of commercial finance and how companies raise money are covered. Further, we will examine “non-consensual” interests in property – how they are created and how they interact with consensual security interests created under Article 9. The course also covers some general principles of bankruptcy law as they relate to the creation and avoidance of security interests under Article 9. We will also review parts of Articles 2 and 8 of the UCC. No prior knowledge of business, finance, economics, or bankruptcy is required. We will also discuss the role of a transactional lawyer. Students may not take LAW-615 if they take LAW-840.
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.
Problems and Cases on Secured Transactions, James Brook, First Edition
Access to the Uniform Commercial Code (published after 2010). I personally recommend owning a copy if you plan to practice in a transactional area like corporate or finance, but it is not necessary.
First Class Readings
All Readings are from Brook. Be sure to read the Sections of the UCC in the Preparation section of each Chapter
Brook Chapter 1
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