This course focuses on one of the most important devices that facilitate commercial credit: security interests in personal property. The legal doctrines are principally in Article 9 of the Uniform Commercial Code, and the course also covers the basics of bankruptcy law. Topics include the how to read a security agreement, create and perfect security interests in personal property, and determine priorities among competing security interest holders as well as the rights and remedies of the parties upon default of these secured transactions. The three-credit version of this course may also cover broader issues of secured financing, including the interaction of Article 9 of the U.C.C. with the law governing secured transactions in real property (mortgages) and the rights of lien creditors under state law. At the discretion of the Associate Dean, this course may be offered for either two or three credits.