LAW - 840 Secured Transactions

(3-4 hrs.)

In ordinary language, this course is about the law of lending and borrowing money, especially when there is collateral involved. More precisely, the course covers the law of secured lending, focusing on loans secured by personal property as 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 the system of secured credit. Some attention is given to basic principles of finance and business, and to the extent time allows, to loans secured by real property (mortgages) and to transactional lawyers’ roles and skills. The course also covers some general principles of bankruptcy law as they relate to security interests. No prior knowledge of business, finance, economics, or bankruptcy is required.