Course Description
This course focuses on security interests in personal property, which are governed by Article 9 of the Uniform Commercial Code. Related Sections in Articles 1 and 2 will also be examined. The course primarily deals with the creation, perfection, priority and enforceability of security interests in personal property and fixtures, although it also deals with rights of secured creditors generally. The course examines: (1) the rights and remedies of the secured creditor and the debtor; (2) the mechanisms and law underlying obtaining perfected interests in collateral; and (3) the priority of the secured creditor over others such as other Article 9 security interests holders, the bankruptcy trustee, sellers, buyers and federal tax liens. The treatment of secured parties in bankruptcy proceedings will also be covered.