Law Courses Catalog

Secured Transactions

Professor Bushaw

Description: In this course, students glimpse the complex world of commercial finance that lurks behind most facets of modern life. This course examines the treatment of secured transactions under Article 9 of the Uniform Commercial Code. Article 9 is a complex, and some might even say impenetrable statute, yet it is an extremely important one as well. Article 9 transactions appear in almost all areas of law, and they do not necessarily announce themselves as such. Attorneys who are not familiar with Article 9 may find that they have advised their clients on a matter that appeared to be something else altogether, but was nevertheless in substance an Article 9 transaction. As this classification has important ramifications for the client, Article 9 poses a significant malpractice trap for the unwary lawyer. Study of Article 9 not only enables students to avoid pitfalls in their future practice lives, it also sharply hones their statutory interpretation skills. Students who have mastered Article 9 should be able to tame whatever snarled statutes may come their way. A study of Article 9 also questions the theoretical underpinnings of debt and security — what sorts of remedies creditors should have available to satisfy the debts owing to them, and why our legal system allows some creditors to gain preference over others. In this regard, Secured Transactions has some synergies with the Property Transactions and Bankruptcy/Debtor-Creditor courses. (Students who have a particular interest in commercial law may wish to take all three courses; other students may prefer to choose among them.)

The American Bar Association accreditation standards require students to regularly attend the courses in which they are registered. Lewis & Clark expects students to attend classes regularly and to prepare for classes conscientiously. Specific attendance requirements may vary from course to course. Any attendance guidelines for a given class must be provided to students in a syllabus or other written document at the start of the semester. Sanctions (e.g., required withdrawal from the course, grade adjustment, and/or a failing grade) will be imposed for poor attendance.

Professor Newell

Article 9 transactions appear in almost all areas of law, and they do not necessarily announce themselves as such. Attorneys who are not familiar with Article 9 may find that they have advised their clients on a matter that appeared to be something else altogether, but was nevertheless in substance an Article 9 transaction. As this classification has important ramifications for the client, Article 9 poses a significant malpractice trap for the unwary lawyer. Study of Article 9 not only enables students to avoid pitfalls in their future practice lives, it also sharply hones their statutory interpretation skills.

The American Bar Association accreditation standards require students to regularly attend the courses in which they are registered. Lewis & Clark expects students to attend classes regularly and to prepare for classes conscientiously. Specific attendance requirements may vary from course to course. Any attendance guidelines for a given class must be provided to students in a syllabus or other written document at the start of the semester. Sanctions (e.g., required withdrawal from the course, grade adjustment, and/or a failing grade) will be imposed for poor attendance.

Law Courses Catalog

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Registrar Seneca Gray

Law Registrar
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