This course focuses on commercial and consumer financing using personal property as collateral under UCC Article 9. The course includes study of contract and personal property law, focusing on the creation, priority and remedies of secured transactions under Article 9 of the Uniform Commercial Code and related bodies of law. The course builds on the basic contract and property courses in two ways. First, it focuses on mastering provisions of the UCC — a complex, detailed statute that provides an integrated and interrelated body of law with a distinctive philosophical approach. Second, it focuses on the activities of the both the consumer and commercial business actors, who typically bargain at arms’ length, are motivated by the goal of economic gain and have the opportunity to obtain legal advice before making plans. Accordingly, the course should be of interest to students who want to develop their skills in statutory analysis and in understanding and planning consumer and business transactions.
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