LAW 404 - Secured Transactions

This course addresses how, mostly via Article 9 of the Uniform Commercial Code, (a) banks and other lenders and (b) businesses that sell goods on credit may try to obtain collateral to secure those sales and loans and what happens to the collateral when the buyers or borrowers default on their obligations. It also addresses the priorities that competing secured creditors may claim in the same collateral. The course will be graded on the basis of in-class participation and a final examination. NOTE: you may not register for this course if you have successfully completed or are currently enrolled in Commercial Law.