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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. Midas Muffler Shop v. Ellison
        3. Commentary: Fair Debt Collection Practices
        4. Jenkins v. Heintz
      2. Judicial process
        1. Commentary: Enforcement of judgment
        2. Problem: Enforcement of judgment.1
        3. Problem: Enforcement of judgment.2
        4. Commentary: Exemptions
  2. The Nature of Secured Debt
    1. Introduction
      1. Commentary: Sources of law governing secured debt
      2. Commentary: Nature and characteristics of liens
    2. Illustrative transactions
      1. Commentary: Illustrative transactions
      2. Problem: Illustrative transaction
    3. Escrow and title insurance
      1. Commentary: Escrow and Title Insurance
    4. The underlying payment obligation
      1. Commentary: Common terms in consensual payment obligations
      2. Problem: Prepayment
      3. Commentary: Negotiable instruments
    5. The relationship between underlying obligation and value of collateral
      1. Commentary: Relationship between debt and value of collateral
      2. Problem: Relationship between debt and value of collateral
    6. The lawyer's standard of care
      1. Starr v. Mooslin
      2. Problem: Lawyer's standard of care
  3. The Creation and Enforceability of Consensual Security
    1. Enforceability of consensual security against the debtor
      1. Personal property
        1. Commentary: Enforceability of consensual security - personal property
        2. UCC 9-203, 9-110
        3. Agreement
          1. Problem: Enforceability of security agreement
          2. Problem: Drafting a written security agreement
          3. Komas v. Future Systems, Inc.
        4. Value
          1. Problem: Value.1
        5. Rights in collateral
          1. Central Production Credit Assoc. v. Hopkins
          2. State Bank of Young America v. Wagener
          3. Commentary: Lien to secure debt of another
      2. Real property
        1. Commentary: Enforceability of consensual security - real property
        2. Problem: Value.2
      3. Which domain--real property, personal property, or both?
        1. Lovelady v. Bryson Escrow, Inc.
        2. Commentary: Mixed Collateral
    2. Enforceability of consensual security against third parties
      1. Commentary: Enforceability of Consensual Security Against Third Parties
    3. The scope of security
      1. After acquired collateral
        1. Commentary: After acquired collateral
        2. UCC 9-204(1), (2)
      2. Future advances
        1. Commentary: Future Advances.1
        2. UCC 9-204(3)
        3. Cal. Civ. Code 2884
        4. Freese Leasing, Inc. v. Union Trust and Savings Bank
        5. Commentary: Future advances.2
        6. Problem: Future advances (Question A)
      3. Proceeds
        1. Commentary: Proceeds
        2. UCC 9-306(1), (2)
        3. Chrysler Credit Corp. v Superior Court
        4. Problem: Proceeds
      4. Rents and profits
        1. Commentary: Rents and Profits.1
        2. MDFC Loan Corporation v. Greenbrier Plaza Partners
        3. Commentary: Rents and Profits.2
        4. In re GOCO Realty Fund I
    4. 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
        2. Problem: Cross collateral
        3. Commentary: FTC Rule
        4. Problem: FTC Rule
        5. Commentary: Anti-discrimination legislation
  4. Default and the State Remedies System
    1. The nature of default
      1. Commentary: Default
      2. Problem: Default
    2. Reinstatement
      1. Commentary: Reinstatement
      2. Cal. Civ. Code 2924c
      3. Cal. Civ. Code 2983.3
      4. Problem: Reinstatement
    3. Redemption
      1. Commentary: Redemption
      2. UCC 9-506
      3. Cal. Civ. Code 2903, 2904, 2905
      4. Cal Code Civ. Proc. 729.010-729.090
    4. The security first principle (a.k.a. "one form of action rule")
      1. Commentary: Security first
      2. UCC 9-501(1), 9-501(5)
      3. Cal. Code Civ. Pro. 726
      4. The affirmative defense
        1. Barbieri v. Ramelli
      5. The sanction
        1. Salter v. Ulrich
      6. Sold-out juniors
        1. Savings Bank v. Central Market Co.
      7. Waiver
        1. Pacific Valley Bank v. Schwenke
        2. Problem: Security first.1
      8. Set off
        1. Security Pacific National Bank v. Wozab
      9. Pre-judgment attachment
        1. Shin v. Superior Court
        2. Problem: Security first.2
        3. Problem: Security first.3
    5. Obtaining possession of or collecting personal property collateral
      1. Repossession
        1. UCC 9-503
        2. Stone Machinery v. Kessler
        3. Williams v. Ford Motor Credit
        4. Commentary: Self help repossession
        5. Problem: Self help repossession
      2. Judicial process
        1. Commentary: Possession through judicial process
      3. Notification in accounts or chattel paper financing
        1. UCC 9-502(1)
    6. Foreclosure and deficiency
      1. Personal property (Review Part B.3 of Commentary.Illustrative transactions)
        1. Foreclosure by sale or strict foreclosure
          1. Commentary: Personal property foreclosure
          2. UCC 9-505, 9-504(1), (3)
          3. Aspen Enterprises, Inc. v. Bodge
          4. Hollander v. Calif. Mft. Enterprises
          5. G. E. Credit Corp. v. Bo-Mar Construction
          6. Problem: Disposition of collateral
          7. Problem: Foreclosure of subordinate lienholders
        2. Deficiency
          1. Emmons v. Burkett
          2. UCC 9-504(2), 9-507
          3. Problem: Deficiency.1 (personal property)
          4. Commentary: Article 9 and consumer protection
      2. Real property (Review Part A.3. of Commentary.Illustrative transactions)
        1. Deeds in lieu of foreclosure
          1. Commentary: Deeds in lieu
          2. Guam Hakubotan, Inc. v. Furusawa Investment Corp.
          3. Problem: Deeds in lieu
        2. Foreclosure by sale
          1. Commentary: Judicial and non-judicial foreclosure sales
          2. Commentary: Foreclosure consultants
          3. Commentary: Setting aside a non-judicial foreclosure sale
          4. BFP v. Resolution Trust Corporation
        3. Anti-deficiency rules in purchase money transactions
          1. Cal. Code Civ. Pro. 580(b)
          2. Problem: Deficiency.2 (real property)
          3. Brown v. Jensen
          4. Prunty v. Bank of America
          5. Roseleaf v. Chierighino
          6. Spangler v. Memel
          7. Commentary: Seller carry-backs on residential property
        4. Deficiency after non-judicial foreclosure
          1. Commentary: Deficiency after non-judicial foreclosure
          2. Cal. Code Civ. Pro. 580(d)
          3. Problem: Deficiency.3(real property)
        5. Fair value limitations
          1. Commentary: Fair value limitations
          2. Cal. Code Civ. Pro. 580a and 726(b)
          3. Hatch v. Security First Nat'l Bank
          4. Citrus State Bank v. McKendrick
        6. Damages for waste or fraud
          1. Cornelison v. Kornbluth
          2. Problem:Waste
          3. Alliance Mortgage Co. v. Rothwell
          4. Pacific Inland Bank v. Ainsworth
      3. Multiple security and mixed collateral
        1. Commentary: Foreclosure on mixed collateral
        2. UCC 9-501(4)
        3. Problem: Mixed collateral
        4. Aspen Enters, Inc. v. Bodge
        5. Freedland v. Greco
        6. Walker v. Community Bank
    7. Waiver of debtor protections
      1. Commentary: Waiver of debtor protections
    8. Guarantees and letters of credit
      1. Commentary: Guarantors
      2. Cal Civ Code 2809
      3. Cal Civ Code 2845
      4. Problem: Guarantors
      5. Loeb v. Christie
      6. Heckes v. Sapp
      7. Union Bank v. Gradsky
      8. Commentary: Fair value and guarantors Commentary
      9. Commentary: Guarantor's waiver of protection
      10. Cathay Bank v. Lee
      11. Cal Civ Code 2856
      12. River Bank v. Diller
      13. Commentary: Letters of credit 
      14. Western Security Bank v. Superior Court                  
  5. The Intervention of Bankruptcy
    1. An introduction to liquidation and reorganization
      1. Commentary: Introduction to bankruptcy
    2. The automatic stay
      1. Commentary: Automatic stay
      2. Bkry Code 362(a), (b), (c), (d), (h).
      3. In re Radden
      4. In re Rogers Development Corp.
      5. Problem: Automatic Stay
    3. Allowed secured claims
      1. Commentary: Allowed secured claims
      2. Bkry Code 506(a)
      3. Bkry Code 552
    4. The secured creditor's treatment in a consumer Chapter 7
      1. Commentary: Consumer Chapter 7
      2. Bkry Code 521
      3. Bkry Code 722
      4. Problem: Secured Creditor in Chapter 7
    5. The secured creditor's treatment in a Chapter 13
      1. Commentary: Chapter 13
      2. Bkry Code 1322 (b)(2), (5)
      3. Bkry Code 1325 (a)(5)
      4. Associates Commercial Corp. v. Rash
      5. McEwen v. Federal National Mortgage Association
      6. Problem: Secured Creditor in Chapter 13
    6. The secured creditor's treatment in Chapter 11
      1. Commentary: Chapter 11
      2. Bkry Code 1129(a)(8), 1129(b), 1111(b)
      3. Problem.Secured Creditor in Chapter 11
    7. Avoidance of security in bankruptcy
      1. Commentary: Avoidance of liens in bankruptcy
      2. Problem: Avoiding liens which impair exemptions
      3. Problem: Preferences
      4. In re Varner, 219 B.R. 867 (9th BAP-Cal 1998).
      5. Problem: Secret Liens
      6. Commentary: Postpetition effect of security interest
  6. Methods of Perfection and Recordation
    1. Personal property
      1. Commentary: Perfection of security interest in personal property
      2. UCC 9-303
      3. Automatic perfection
        1. UCC 9-302(1)(d)
        2. Problem: Automatic Perfection
      4. Perfection by possession
        1. Commentary: Perfection by possession
        2. UCC 9-304(1), 9-305
        3. Mur-Ray Management Corporation v. Founders Title Company
        4. In re Marriage of Braendle
        5. Problem.Perfection by Possession
      5. Notation on Certificate of Title
        1. Commentary: Certificate of Title
        2. UCC 9-302(3),(4)
      6. Perfection by filing a financing statement
        1. Commentary: Financing statement
        2. Contents of a financing statement
          1. Commentary: Contents of financing statement
          2. UCC 9-402, 9-110
          3. In re Mines Tire Co.
        3. Location of filing
          1. Commentary: Location of filing
          2. Within a state
            1. UCC 9-401
            2. Problem: Location of filing.1
          3. Choice of law
            1. UCC 9-103
            2. Problem: Location of filing.2
        4. Changed conditions after filing
          1. Commentary: Changed conditions after filing
          2. UCC 9-402(7), 9-302(2)
        5. Perfection as to proceeds
          1. Commentary: Perfection as to proceeds
          2. UCC 9-306(3)
          3. Problem: Perfection as to proceeds
    2. Fixtures
      1. Commentary: Perfection as to fixtures
      2. UCC 9-313(1),(2),(3), 9-401(1), 9-401(7)
      3. Problem: Perfection as to fixtures
    3. Real property
      1. Commentary: Perfection as to real property
  7. Priority Disputes
    1. Consensual lienholders vs. unsecured creditors, lien creditors, the bankruptcy trustee and the debtor-in-possession
      1. UCC 9-201, 9-301(1)(b), 9-301(2)
      2. Credit Bureau of Broken Bow v. Moninger
      3. Problem: SP vs. lien creditor
    2. Consensual lienholders vs. other consensual lienholders
      1. UCC 9-201, 9-301(1)(a), 9-312(5)
      2. Problem: SP vs. SP.1
      3. Problem: SP vs. SP.2
      4. National Bank of Waterloo v. Moeller
      5. Problem: Future Advances (Questions B and C)
      6. UCC 9-312(3), 9-312(4)
      7. Knox v. Phoenix Leasing, Inc.
      8. Commentary: Subordination
      9. Commentary: All inclusive deed of trust
      10. FPCI Re-Hab 01 v. E & G Investments, Ltd.
    3. Consensual lienholders vs. buyers of collateral
      1. UCC 9-201, 9-306(2), 9-307
      2. Problem: SP vs. Buyer.1
      3. Problem: SP vs. Buyer.2
      4. Aircraft Trading and Services, Inc. v. Braniff, Inc.
    4. Fixture claimants vs. real property claimants
      1. UCC 9-313
      2. Problem: Fixtures
      3. Problem: Summary (subpart (a))
  8. Hidden Security Devices
    1. Equitable Liens
      1. Commentary: Equitable liens
      2. Problem: Equitable liens
    2. Personal property leases
      1. Commentary: Lease intended as security
      2. UCC 9-102(1)(a)
      3. UCC 1-201(37)
      4. Addison v. Burnett
      5. Earp v. Earp
    3. Sale of accounts and chattel paper
      1. Commentary: Sale of accounts and chattel paper
    4. Problem: Summary (subparts (b), (c) and (d))