Broome section:
This course covers debt transactions in which the debtor offers personal property collateral to secure the debt. The creditor's interest in the collateral is a security interest and the course examines the creation, perfection, priority, and enforcement of this security interest under Article 9 of the Uniform Commercial Code. The class emphasizes statutory construction and practical considerations in structuring the transaction.
Brown section:
The course addresses the use of personal property as collateral to secure a debt (analogous to mortagages for realty). The course focuses on Article 9 of the UCC and a few provisions of the Bankruptcy Code. Typical transactions range from garage sales to auto loans and construction projects. This is a core course that provides a unique vocabulary and framework for analysis and is a great choice for any 2L or 3L, whether generalist or specialist. The course gives students a high level of practical mastery that is valuable in practice. It emphasizes statutory construction, sometimes utilizing a problem approach.
Jacoby section:
We will study the legal regulation of asset-based loans to consumer and businesses (think of a car loan, with the car as collateral) governed by the Uniform Commercial Code, and, to a lesser extent, by real estate law and federal bankruptcy law.