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UCC Article One | UCC Article Nine

Legal Dictionary

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1. Unsecured Debt
   1. The creation of debt
      1. Commentary.Creation of debt
      2. Commentary.Evidence of debt
   2. Collecting overdue debt
      1. Non-judicial collection
         1. Commentary.Dunning
         2. Commentary.Fair debt collection practices
      2. Judicial process
         1. Commentary.Enforcement of judgment
         2. Commentary.Exemptions
2. An Introduction to Secured Debt
   1. Commentary.Sources of law governing secured debt
   2. Commentary.Nature and characteristics of liens
   3. Commentary.Relationship between debt and value of collateral
3. Creation and Enforceability of Security Interest
   1. Scope of Article 9
      1. Commentary.Scope of U.C.C. Article 9
      2. In re Cybernetic Services, Inc.
      3. Commentary.Sale of receivables
      4. Commentary.Mixed collateral
      5. Lovelady v. Bryson Escrow, Inc.
   2. Problem.Identifying collateral
   3. Creating an enforceable Article 9 security interest
      1. Commentary.Enforceability of consensual lien in personal property and fixtures
      2. Problem.Enforceability of security interest
      3. Problem.Drafting a security agreement
      4. Komas v. Future Systems, Inc.
      5. Central Production Credit Assoc. v. Hopkins
      6. State Bank of Young America v. Wagener
      7. Commentary.Public licenses
      8. MLQ Investors, L.P. v. Pacific Quadracasting, Inc.
      9. Commentary.Lien to secure debt of another
   4. Commentary.Enforceability of consensual lien against third parties
   5. Dimensions of the consensual lien
      1. Commentary.After-acquired collateral
      2. Future advances
         1. Commentary.Future advances.1
         2. Freese Leasing, Inc. v. Union Trust and Savings Bank
         3. Problem.Future advances (Question A)
      3. Proceeds
         1. Commentary.Proceeds
         2. Chrysler Credit Corp. v Superior Court
         3. Problem.Proceeds
   6. Regulated or prohibited transactions
      1. Common law
         1. Commentary.Common law defenses to enforceability
         2. Williams v. Walker Thomas Furniture
      2. Legislation and regulation
         1. Commentary.Consumer protection legislation and tegulation
         2. Problem.Cross collateral
         3. Commentary.FTC Rule
         4. Problem.FTC Rule
4. Default
   1. The nature and consequences of default
      1. Commentary.Default
      2. Problem.Default
      3. Commentary.Choice of remedies
   2. Reinstatement and redemption
      1. Commentary.Reinstatement
      2. Commentary.Redemption
   3. Foreclosure and deficiency
      1. Gaining possession of tangible personal property
         1. Commentary.Self help repossession
         2. Stone Machinery v. Kessler
         3. Williams v. Ford Motor Credit
         4. Problem.Self help repossession
         5. Commentary.Possession through judicial process
      2. Foreclosure by disposition and strict
         1. Commentary.Personal property foreclosure
         2. Westgate State Bank v. Clark
         3. Problem.Foreclosure by disposition
         4. Problem.Strict foreclosure
      3. Deficiency or surplus
         1. Emmons v. Burkett
         2. Problem.Deficiency
         3. Commentary.Fair value limitations
         4. Commentary.Consumer protection in Article 9
      4. Collection of receivables and deposit accounts
         1. Commentary.Collection of receivables
         2. Commentary.Assertion of claims and defenses against assignees
         3. Problem.Collection of receivables
      5. Commentary.Foreclosure on mixed collateral
5. Perfection
1. Commentary.Perfection of security interest in personal property
2. Problem.Automatic perfection
3. Perfection by possession
   1. Commentary.Perfection by possession
   2. Problem.Perfection by possession
4. Commentary.Perfection by control
5. Perfection by notation on certificate of title
   1. Commentary.Certificate of title
   2. Problem.Certificate of title
6. Perfection by filing a financing statement
   1. Commentary.Financing statement
   2. Contents of a financing statement
      1. Commentary.Sufficiency of financing statement
      2. In re Mines Tire Co.
   3. Location and duration of filing
      1. Commentary.Location of filing
      2. Problem.Location of filing and lapse
   4. Changed conditions after filing
      1. Commentary.Events subsequent to filing
      2. Problem.Events subsequent to filing
7. Perfection as to proceeds
   1. Commentary.Perfection as to proceeds
   2. Problem.Perfection as to proceeds
8. Fixtures
1. Commentary.Perfection as to fixtures
2. Lewiston Bottled Gas Co. v. Key Bank of Maine
3. Problem.Perfection as to fixtures
6. Bankruptcy
1. Commentary.Introduction to bankruptcy
2. Commentary.Automatic stay
3. The treatment in bankruptcy of unavoided security interests
   1. Commentary.Allowed secured claims
   2. Commentary.Consumer Chapter 7
   3. Problem.Secured creditor in Chapter 7
   4. Commentary.Chapter 13
   5. Problem.Secured creditor in Chapter 13
   6. Commentary.Chapter 11
   7. Problem.Secured creditor in Chapter 11
4. Avoidance of liens in bankruptcy
   1. Commentary.Avoiding liens in bankruptcy
   2. Problem.Avoiding liens that impair exemptions
   3. Credit Bureau of Broken Bow v. Moninger
   4. Problem.SP vs. lien creditor
   5. Problem.Preferences
7. Priority
1. Commentary.Priority
2. Secured party vs. another secured party
   1. Problem.SP vs. SP
   2. Knox v. Phoenix Leasing, Inc.
3. Secured party vs. buyers of collateral
   1. Problem.SP vs. buyer
4. Future Advances
   1. Commentary.Future advances.2
   2. Problem.Future advances (Questions B and C)
5. Fixture Secured Party vs. Real Property Claimants
   1. Problem.Fixtures
8. Leases and consignments
1. Personal property leases
   1. Commentary.Personal property leases
   2. Addison v. Burnett
   3. Earp v. Earp 
2. Consignments