Welcome to Secured Transactions
This course surveys the law of secured transactions under Article 9 of the Uniform Commercial Code, in which a typically consensual security interest in personal property arises in a creditor's favor to secure payment or performance of an obligation.
Welcome to Secured Transactions! Designed for 2Ls and 3Ls, this course features 17 video lessons divided into four chapters, plus 165 practice questions.
The law of secured transactions is the law of consensual security interests in movable goods securing payment or performance of obligations, which is governed by Article 9 of the Uniform Commercial Code. Chapter one gives us a bird's eye view of this intricate field of law, including general terminology, Article 9's scope, and the classifications of collateral under Article 9.
Chapter two covers attachment and perfection of security interests. Here, we'll learn the requirements for a security interest to be valid as between the secured party and the debtor, along with what a secured party must do to give third parties notice of its security interest and maintain its priority in the collateral.
Chapter three touches priority among competing claimants to the same collateral. First, we'll examine how a secured creditor can maintain its priority if the debtor changes its name, location, or capital structure. Then, we'll study the rules governing priority among competing secured creditors and other claimants, including lien creditors and purchasers.
Finally, chapter four surveys the secured party's remedies and the debtor's rights if there's a default on the secured obligation. We'll talk about the secured party's general remedies, the ways for the secured party to foreclose on the collateral, and the debtor's right of redemption and other protections.
If you watch all the lesson videos and work through all the practice questions in this course, you'll be set to ace your secured-transactions exam. Let's get started.