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Courses|College of Law

Secured Transactions

Call Number: 10834
Course Number: 6830-01
Professor: Elaine Welle
Credit Hours & Type of Credit: 3
Semester Offered: Fall
Required: No
Prerequisites: Students must have completed their first year of law school.
Recommended Courses: None

Course Overview: Financial institutions and other businesses often take an interest in a debtor's personal property (such as goods, equipment, inventory and accounts) to secure payment of a debt or performance of an obligation. The secured transactions course deals with the law governing security interests in personal property which is embodied primarily in Article 9 of the Uniform Commercial Code.

The course has several goals. The first is to provide students with a working knowledge of Article 9 and related bodies of law. The second goal is to use Article 9 as an example to illustrate how to approach, work with and interpret an unfamiliar statute. The third objective is to discuss and become familiar with many common forms of business transactions and how such transactions work, including loan agreements and other financing arrangements.

Course Materials: See the current Book List located under Courses and Curriculum.
Course Format: A problem approach is used in the course to reinforce an understanding of the legal doctrines and to emphasize the practical effect of secured transactions law on a lawyer's day to day practice. The course is designed to address issues relevant to those students who wish to practice transactional law, as well as those who anticipate a career in commercial litigation or as a general practitioner.
Written Assignments: You will be required to complete at least one graded take-home project. In addition, I reserve the right to assign additional take-home projects, to ask for written responses to questions posed in class or to request you to hand in answers to homework problems on a periodic basis.
Type of Exam: One final exam and a mid-term exam. Exams may include a combination of multiple-choice questions and short-answer essay questions.
Basis for Grading Student Performance: Grades will be based on a student’s performance on exams, take-home projects and homework assignments. I view class participation and attendance as extremely important. Points will be added to or subtracted from a student’s final grade based on attendance and the quality of class participation.
Other Comments: Secured Transactions is a topic tested on the bar exam in many, if not most, states. Both second year and third year students are welcomed to enroll. Historically, the class has been composed of both second year and third year students.

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