Secured Transactions

Lesson Viewed

Classification of Collateral I: Discussions in Secured Transactions Podcast

This is the first of two podcasts that describe the process by which a creditor identifies collateral subject to a security interest under Article 9 of the Uniform Commercial Code. This podcast focuses on descriptions of tangible personal property. See Classification of Collateral II for classifications of collateral constituting intangible property. 


Learning Outcomes


Lesson Viewed

Classification of Collateral II: Discussions in Secured Transactions Podcast

This is the second of two podcasts that describe the process by which a creditor identifies collateral subject to a security interest under Article 9 of the Uniform Commercial Code. This podcast focuses on descriptions of intangible personal property. See Classification of Collateral I for classifications of collateral constituting tangible property. 


Learning Outcomes


Lesson Viewed

Creating a Security Interest – Overview: Discussions in Secured Transactions Podcast

This podcast provides an overview of the process by which a creditor attaches a security interest to collateral under Article 9 of the Uniform Commercial Code, thereby making it enforceable by the creditor in the event there are unmet obligations to the creditor (in most cases by non-payment of a loan by the debtor). The podcast reviews the requirements of security agreements and uses a series of examples to demonstrate when a security interest attaches. 

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Priority Between a Secured Party and a Party with a Lien: Discussions in Secured Transactions Podcast

This podcast discusses the priority between a secured party and a party with a lien, including a judicial lien creditor, a creditor with a lien arising by operation of law, a creditor with an agricultural lien, and the IRS with a tax lien. The podcast discusses the relationship between Bankruptcy Code § 544(a), often referred to as “the strong arm clause, and a PMSI (Purchase Money Security Interest).


Learning Outcomes


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Purchase Money Security Interests Part II: Discussions in Secured Transactions Podcast

The topic of this podcast is to identify when a purchase money security interest (“PMSI” or PIM-zee) has been created and to identify fact patterns that frequently appear on law school and bar examinations where it is significant that a security interest is a PMSI. Remember, a PMSI is simply a specific type of security interest. This podcast is the second of two covering PMSIs. Here is the first podcast


Learning Outcomes


Lesson Viewed

Security Agreements: Discussions in Secured Transactions Podcast

The topic of this podcast is when a security agreement is sufficient to enable it to attach a security interest to collateral under Article 9 of the Uniform Commercial Code, thereby making it enforceable by the creditor in the event that there is a default by the debtor (in most cases non-payment of a debt). This podcast focuses on the elements required for enforceability of a security interest under UCC Section § 9-203(b) and the alternatives that satisfy the security agreement requirement under § 9-203(b)(3).

Lesson Viewed

Secured Transactions: Priority: Buyers v. Secured Parties Podcast

The topic of this podcast is which party will prevail in a competition for collateral as between buyers of the collateral and secured parties. While secured parties might expect to prevail with respect to their collateral most of the time, buyers of goods also have expectations that are protected with respect to their purchases. The rules of Article 9 balance expectations so that buyers get good title to what they buy and have protection from pre-existing security interests in some circumstances. These rules are commonly tested on law school and bar examinations.

Lesson Viewed

Secured Transactions: Bankruptcy and the Automatic Stay Podcast

The topic of this podcast is some of the basic concepts of bankruptcy, as well as the automatic stay, and some ways you might find to get around it. While most courses on secured transactions focus on U.C.C. Article 9, which is state law, sometimes you will find that a debtor declares bankruptcy. In the event that there is a bankruptcy, the secured creditor will have to know what actions it can and which it can’t take. Recall that while Article 9 is part of state law, bankruptcy law is part of federal statutory law.

Lesson Viewed

Secured Transactions: Basics Podcast

This podcast discusses the nature of security interests, as well as some of the basic vocabulary that you will need to understand the concepts, using the rules set forth in the Uniform Commercial Code Article 9. The rules of Article 9 are state statutory law. The primary terms of art associated with security interests are generally defined in either 1-201 or 9-102, though some definitions are contained elsewhere. This podcast primarily focuses on security interests created under Article 9.

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Secured Transactions: Fixtures Podcast

This podcast discusses how a secured creditor can perfect a security interest in goods that are or might become fixtures in order to prevail against UCC or real estate claimants of the same collateral. This topic primarily requires a careful reading of UCC § 9-334 and an understanding of what is a fixture. At the conclusion of the podcast you should be able to (1) describe what a fixture is; (2) describe how a secured creditor might go about perfecting a security interest in a fixture; and (3) describe some of the priority rules related to fixtures. 

Lesson Viewed

Secured Transactions: Perfection of Security Interests Podcast

This podcast discusses how a secured creditor goes about perfecting its security interest in order to prevail against others who might claim the same collateral. This topic primarily requires a careful reading of UCC § 9-310 and a basic understanding of how a secured party attaches its security interest in the first place, under § 9-203. Concepts covered include Form-1 and Financing Statement.

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