Many commercial financing transactions involve the creation of security interests in the borrower's personal property that are akin to mortgages of real property. Much business credit is provided on a secured credit -- if security is unavailable, credit markets can dry up. Additionally, the debt obligation can be packaged with others and serve as the backing for securities akin to those that have recently been much in the news. This course governs the basic secured transaction governed by Article 9 of the U.C.C. Topics covered will include creation and perfection of security interests, priority contests, and the consequences of default. There are no PREREQUISITES for this course. Students who desire a thorough exposure to the Uniform Commercial Code may wish to take the course Business Law: the Uniform Commercial Code instead. RESTRICTION: Enrollment is limited to students who have not taken or enrolled in COMMERCIAL CODE (now Business Law: The Uniform Commercial Code).

Note that this information may change at any time. Please visit the Student Link for the most up-to-date course information.