Secured Transactions

B672 is taught by H. Buxbaum, P. Foohey, S. Hughes, A. Raymond

This course surveys Article 9 of the Uniform Commercial Code as it applies to consensual and non-consenual security interests in personal property. The term "property " for this purpose includes such diverse tangible and intangible items such as motor vehicles, clothes in store inventories, rights in copyrights, trademarks and patents, agricultural products and commodities, contract rights, payment intangibles, accounts receivable, and equipment.

The textbook for Spring 2017 is Lopucki & Warren, Secured Credit (Aspen, most recent edition).

Students also need a Commercial Law statutory supplement an edition more recent than 2012, preferably Foundation Press s edition. Please bring Articles 1 and 9 to class each day the course meets, as well as your textbook. I strongly recommend not relying on an electronic version of the Commercial Law statutory supplement for this course because you need to be able to follow it along with us in class as well as take notes.

The routine for this class is to discuss the theory and substance of the law briefly based on the textbook s explanation of the law. Then, we spend more of the class period working work a series of problems in each chapter. Please plan to prepare each problem assigned in advance of class and bring your questions to class. Each chapter is intended by the authors as one class period of work.

The course focuses on consumer as well as commercial transactions. The course has interesting theory as well as substance that lawyers encounter frequently regardless of their chosen fields of law.

There is no prerequisite for this course. If a student can take only one Commercial Law course, it should be Secured Transactions. Some knowledge of secured transactions is very helpful in imagining the transactions your future clients will have, and will allow you to bring in experts before you get yourself and your clients into trouble. This material is tested on many bar examinations and is harder to learn on one s own than Sales.

I encourage students planning to take Bankruptcy to take Secured Transactions (B672) as well.

This class will have an in-class examination and probably a one-essay question plus one or two short-answer questions.