Introduction to Business Reorganization in Bankruptcy, Bankruptcy and Related Issues, Property Transactions.
This course examines the rules governing transactions in which personal property secures payment or performance of an obligation. 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 loans secured by interests in automobiles to less familiar high-value business financing secured by interests in inventory and accounts receivables to sophisticated and complicated financing that involves securitization and investment securities is considered. The course focuses on Article 9 of the Uniform Commercial Code, but considers other Articles of the U.C.C. as well as pertinent sections of the Bankruptcy Code and the Internal Revenue Code.
Lopucki & Warren: Secured Credit, A Systems Approach (6th ed. 2009); ISBN: 978-0-7355-7649-0.
The students will also need to buy a Bankruptcy and Article 9, 2009 Statutory Supplement by Elizabeth Warren, ISBN: 9780735579484. Latest edition (2009) is NOT required; any edition more current than the 2006 edition is acceptable.
The course will be a combination of lecture and discussion.
|Type of Exam||
Three-hour essay exam. Open book.
|Basis for grading||
The law of secured transactions impacts many areas of legal practice including banking, consumer protection, bankruptcy, tax, and intellectual property.