Introduction to Business Reorganization in Bankruptcy, Bankruptcy and Related Issues, Property Transactions.
This course examines the rules governing transactions in which personal property secures repayment of a loan. This is the body of law which allows borrowers to access credit secured with consumer goods, inventory, accounts receivable or deposit accounts. Everything from such familiar transactions as consumer car loans to lines of credit extended to businesses as well as the rights of lien creditors such as the IRS and the bankruptcy trustee is considered. The course focuses on Article 9 of the Uniform Commercial Code (U.C.C.) and Arizona case law, but also examines other Articles of the U.C.C. as well as pertinent sections of the Bankruptcy Code, the Internal Revenue Code, and Arizona Revised Statutes.
Textbook: Lopucki & Warren: Secured Credit, A Systems Approach (7th ed. 2011); and
Statutory supplement: it must contain UCC Article 9 as amended in 2010 such as the Bankruptcy and Article 9, 2012 (or the 2011) Statutory Supplement by Elizabeth Warren, Commercial Law: Selected Statutes 2012-2013 Edition by William d. Warren & Steven D. Walt, or similar.
The course will be a combination of lecture and discussion.
|Type of Exam||
Three-hour open book exam with six short essay questions.
|Basis for grading||
The law of secured transactions impacts many areas of legal practice including banking, consumer protection, bankruptcy, tax, and intellectual property.