|Course||Secured Transactions - Law 633c|
|Instructor||William E. Boyd View Faculty Page|
|Units||3 - Graded|
Students may enroll in any of the UCC offerings without having taken any of the others but completing other such courses obviously can be helpful.
In this three unit, graded course, you will learn primarily through the use of my CANINE (The Complete Article Nine) materials. The CANINE materials consist of a complete electronic casebook (online text that is extensively hyper-linked to the UCC, the federal bankruptcy law, the FTC rules and Arizona statutes and a large number of court decisions interpreting Article 9 and other relevant sections of the UCC).
The core of the CANINE materials are the many interactive problems that allow you to prepare assignments, review the materials covered and also prepare for examinations, largely at your own pace. You will be required to work selected problems online so that your completion of the assigned problems can be monitored (but your performance will not be graded).
The class meetings will be supplemented by the use of e-mail and Forums. These communication tools allow you to ask questions -- which together with my responses are shared with the other students in the class -- when the questions come up and not just in class.
The subject of this course is secured financing using personal property as collateral. Everything from such familiar transactions as automobile loans secured by interests in automobiles to less familiar multimillion dollar business financing secured by interests in inventory and accounts receivables to sophisticated and complicated financing involving the use of intellectual property as collateral is considered.
First and foremost, this course deals with Article 9, the Secured Transactions Article, of the Uniform Commercial Code (UCC). As the materials point out, an extensively revised Article 9 was effective on July 1, 2001. It is not really "new," but when these materials were first published the revised version was referred to as new Article 9 to distinguish it from "former" Article 9 (and revisions to former Article 9). You must keep in mind that while we will focus on the uniform version of new Article 9 proposed for adoption by all the states (the one in your commercial copy of Article 9), individual states may have made changes to the proposed version of Article 9. It is the version of the statute actually adopted in a state that is the governing law in that state and that is the version that you must consult in actual practice.
Because the extent to which a security interest will survive bankruptcy is often viewed as the acid test of proper planning and because secured interests typically fare much better in bankruptcy than unsecured interests, federal bankruptcy law is treated at length. Other laws that impact secured financing, including consumer protection statutes and the federal tax lien law, also are examined.
UCC (Secured Transactions) has been designated a core course because its substance is important to so many areas of law and because it requires learning techniques of statutory interpretation that are basic to law practice in a legal system that is increasingly governed predominantly by codes and regulations.
Boyd, CANINE (The Complete Article Nine). An online version of the CANINE materials that includes interactive versions of the problems in the CANINE text is available from CALI (The Center for Computer-Assisted Legal Instruction).
A commercially published set of statutes that includes former Article 9, new Article 9 and the Bankruptcy Reform Act.
Opt'l: White & Summers, The Uniform Commercial Code (West Hornbook Latest ed.)
We will work through as many of the interactive CANINE problems in class as time permits
None. Students will be required to work selected interactive problems from the CANINE materials online.
|Type of Exam||
Multiple-choice. Students may bring to the exam the commercially published volume of statutes (as well as any hard copy handouts of statutory or other material), all of which may be annotated at will. However, students may not fill the blank spaces in the selected statutes with class notes, thereby turning a closed book into an open book exam.
|Basis for grading||
Schedules permitting, it is desirable to take UCC (Secured Transactions) in the second year.