Commercial Transactions

This lesson introduces the student to the doctrine and processes involved in interpreting state and federal statutes. Statutes are a critical part of every substantive area of the law, so this is important background for every student, legal professional, lawyer and judge.

The first lesson on UCC Article 2A provides an overview of the article. Because Article 2A applies only to a "true lease,' the lesson assists the user in determining whether a transaction is in fact a lease.

The second lesson on UCC Article 2A covers the special rules for finance leases and consumer leases.

The third lesson on UCC Article 2A covers the formation of an Article 2A lease and some important provisions of the article, comparing and contrasting the provisions with analogous provisions from Article 2.

This fourth lesson on UCC Article 2A covers the default warranties given by a lessor under the article, and also explains how the lessor may disclaim the warranties or limit the available remedies.

The fifth lesson on UCC Article 2A covers claims made by other creditors against the lessor and lessee of an Article 2A lease of goods.

The sixth lesson on UCC Article 2A covers remedies on default for both the lessor and the lessee.

This lesson demonstrates how the principles of remedies are found in the UCC and provides some guidance for working with the UCC. This lesson may be run either as an introduction before the material is studied or as a review after it is studied.

This exercise is designed to give you a good working familiarity with the fixtures provisions of Revised Article 9.