Details

This course examines secured lending using personal property collateral, focusing in particular on the financing of accounts receivable, inventory, equipment, securities, and intellectual property. The Uniform Commercial Code will be the focus of study, with close attention given to the principles of Article 9 and its relationship to Articles 2, 2A, 3, 7 and 8. Examination will also be undertaken of the federal Bankruptcy Code as it applies to secured transactions. Emphasis is given to the following issues: ¿ Credit agreement documentation ¿ Attachment and perfection of security interests ¿ Priority disputes with secured creditors, lien holders, buyers of collateral, banks setting off, bailors, consignors, lessors, and sureties ¿ Bankruptcy, general principles and avoiding powers (voidable preference, strong arm, fraudulent conveyance) ¿ Principles of negotiability as applied to promissory notes, documents of title and securities ¿ Principles of debtor-creditor law ¿ Planning asset-based lending ¿ Fundamentals of accounts receivable financing ¿ Transfer of securities Evaluation: Course grading is based on an end-of-semester examination and class participation. Teaching Method: Lecture and discussion; comprehensive PowerPoints will be provided for all classes.