LAW 5050: Commercial Transactions
Spring 2023 • Section 21 • CRN 48616

Course Description

This course will introduce students to the law of Secured Transactions under Article 9 of the Uniform Commercial Code and how transactions under it are addressed in bankruptcy, which is often viewed as the “acid test” for their enforceability (or not). Studying these subjects together (sometimes characterized as a "systems approach") makes it possible to better understand how credit transactions succeed or fail. Thus, creditors who have a properly created security interest will typically receive the full value of their interest in that property; unsecured creditors, by contrast, have no interest in a debtor’s property at all. They typically recover far less. Moreover, while most credit transactions are negotiated and documented against the possibility of bankruptcy, there are other systems and laws for the collection of unsecured debt about which all practicing lawyers must have some basic knowledge, which this course would provide.

Book List/Materials