That sounds like "Let everybody have complete freedom of contract, and trust courts will use existing contract doctrines to weed out the worst abuses. We haven't found any reviews in the usual places. It seems to me that this could open the door for abuse by the secured party. Provides extensive coverage of the 1999 version of UCC Article 9 (enacted by all states). This is certainly a risk. Organized on the traditional five-part approach to the law of secured transactions: Scope of the article; Attachment of security interests; Perfection of security interests; Priorities among competing claimants (including extensive treatment of the effects of bankruptcy on security interests); and Enforcement of security interests. time the security interest attaches. You said in class that a house is not "goods" because it is not movable. Gilbert Law Summaries give students an outline to help prepare for exams. Is the car "consumer goods," or is it "equipment," or is it both? C. Article 3. The course cover the CB will v. HMA, L.C.

But the facts don't say. Isn't it a better policy choice for the legislature to force commercial parties to use an extra paragraph or two (using a longer list of generic descriptors rather than the supergeneric "all assets"), rather than open the door to abuses that courts may not be able to regulate consistently? Aspen Publishers/Wolters Kluwer Law & Business, Commercial Transactions: A Systems Approach, Aspen Publishers/Wolters Kluwer Law & Business, 2009.
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You seemed to be arguing that it would be better if supergenerics were allowed, because then (1) commercial parties who needed to put up all of their personal property as collateral could do so efficiently, and (2) courts could still protect unsophisticated consumers who unwittingly put up all their personal property as collateral by applying existing contract doctrines like duress, adhesion, mistake, unconscionability, etc. For more information or to request a copy, please contact Aspen Publishers at 800-950-5259 or legaledu@wolterskluwer.com . If it didn't, then all that the security interest in the car can secure is the $10,000 original loan. In addition to material on Article 9 secured transactions, the CB adds material on real estate secured transactions, and the treatment of secured transactions in bankruptcy. If you want to be able to access them from off-campus or from other parts of campus, create a West Academic account. The Course approach: The CB presents explanatory text and cases followed by Problem Sets involving issues treated in the explanatory material. Which UCC Aricle governs secured transactions? To create an account, click the Create an Account link at the top right corner of the Study Aids Subscription page. But the drafters of Article 9 made their policy choice. You will be asked to enter UC Law’s authorization code. You can get this code from any reference librarian or at the Circulation Desk.

C. The agreement. The example I was thinking of was one where the security agreement describes "the debtor's TV set," but the debtor in fact owns two TV sets. That is to say, a 200-ton block of cut granite sitting on top of the earth's surface may be difficult or impossible to move, but it is still "movable" in the sense that it is not physically part of the earth (and thus theoretically could be moved — perhaps by someone in a blue suit and a red cape who happens to be able to fly. My question is how that meshes with the parol evidence rule? This book is a comprehensive resource for studying the sections of Article 9 of the Uniform Commercial Code. *A Teacher’s Manual may be available for this book.
Exam-taking pointers are interspersed within the substantive text. The comprehensive outline, thorough references to relevant authority, and intuitive system of cross-referencing contribute to its ease of use. Every question comes with a fully explained answer, and each question is cross-referenced back to the main outline for further review. A year ago, the local Fun Furniture Outlet was having a liquidation sale. It's not one that justifies concluding that the court should never consider extrinsic evidence to help interpret an ambiguous security agreement. You will need to set up a password to use CALI online. This is especially so because of the efficiency purpose that "future advances" coverage is designed to facilitate. This text places the law of secured transactions within the context of debt collection, comprehensively explains the scope of UCC Article 9 including its exclusions, and provides an in-depth description of the Article 9 rules regarding attachment, perfection, and enforcement of security interests and agricultural liens with many examples. In that case, the classification of the car would be critical, and classification would be governed by the collateral's primary use at the Here's another example. The book includes brief explanatory text about the topic under discussion, followed by one or two multiple-choice questions. Includes coverage of matters related to the scope of Article 9, the security agreement and attachment of the security interest, the relationship of the debtor and secured party prior to default, the perfection of the security interest by filing and other means, multi-state choice of law and perfection issues, priority of the secured party and others in and out of bankruptcy, and default and enforcement of the security interest. You'd need to look at the security agreement itself and see. Of course, this edition also addresses the earlier revisions to Articles 5, 3 and 4. But on the facts in the Hawley Implement Co. problem (the one you refer to in your question), that isn't the case. The parol evidence rule would permit the court to exclude extrinsic evidence where the extrinsic evidence conflicts with the terms of the parties' written agreement, where the writing was clearly intended to be a complete integration of their entire agreement, and where the writing is unambiguous. The problem with Problem 8 is that the facts of the problem don't say whether the security agreement that Bowman signed actually has a future advances clause in it. Common law. Whether the car was "consumer goods" or "equipment" would really only be relevant if the parties had entered into a security agreement covering one classification but not the other, e.g., if Bank had taken a security interest in all of the Debtor's "equipment" but not "consumer goods." The categories of goods are mutually exclusive, and are defined by the debtor's primary intended use.

1. Concise hornbooks are condensed versions of the more in-depth hornbook. However, it does justify a court exercising some care regarding the nature of the extrinsic evidence that it relies on to interpret the agreement, and ensuring the reliability of that evidence.

authorship, a flexible assignment-based structure, and the Systems Approach, which looks at how the law is applied in actual transactions. Answers are provided for these problems.

Now, the first question. Business Associations & Corporations Study Aids, Federal Tax Practice and Procedure Study Aids, International Business Transactions Study Aids, Startups Venture Capital and Private Equity Study Aids, Trademark & Unfair Competition Study Aids, Mastering Secured Transactions (UCC Article 9), The Center for Computer Assisted Legal Instruction, Secured Transactions: Examples & Explanations, Lawrence; William H. Lawrence; William H. Henning; R. Wilson Freyermuth, Uniform Commercial Code in a Nutshell, 8th, Black Letter Outline on Secured Transactions, Gilbert Law Summaries on Secured Transactions, 13th, The Glannon Guide to Secured Transactions, Questions and Answers: Secured Transactions, https://guides.libraries.uc.edu/examstudy, Study Aids to Help in Understanding Secured Transactions, Study Aids on Secured Transactions for Review & Exam Preparation, Online via the West Academic Study Aids subscription, Available online via Wolters Kluwer Study Aids subscription.

This book is a comprehensive resource for studying the sections of Article 9 of the Uniform Commercial Code. Bank does not lose its security interest in the car just because Debtor changed its use of the car after entering into the transaction. Article 5. The detailed answer keys identify the best answer choice, explain why it is the best, and explain why the other answers are not better.