Many commercial and consumer financing transactions involve the creation of security interests in the borrower's personal property that are akin to mortgages of real property. (Indeed, much economic activity involves the grant of a UCC Article 9 security interest, and the system depends on Article 9 to provide much of the law against which modern commerce takes place.) In a secured transaction, in the event of the borrower's default, the lender can foreclose on the collateral subject to the security interest to help liquidate the debt. While simple to describe, secured transactions and the rules that govern them can be complex. This course covers the basic secured transaction governed by Article 9 of the UCC. Topics covered will include creation and perfection of security interests, priority contests, and default. There are no PREREQUISITES for this course. It is an excellent precursor to a course in Bankruptcy as well as to sitting for the bar exam. GRADING NOTICE: This course does not offer the CR/NC/H option.