Secured Transactions

 

Fall, 2018

 

Randal C. Picker

James Parker Hall Distinguished Service Professor of Law

The Law School, The University of Chicago

 

Learning Outcomes Include:

·        Be familiar with the general approaches to the study of law and legal reasoning.

·        Demonstrate the ability to identify and understand key concepts in substantive law, legal theory, and procedure.

·        Demonstrate an understanding of the interdisciplinary nature of law and the contributions that other disciplines can make to the study of law.

 

Other Materials: Day 1 assignment; Exam 08; Rubric 08; Exam 14; Rubric 14; Exam 15; Rubric 15; Illinois UCC 9

 

Date

#

Topics/Issues

Cases/Materials

Pages

Statutes

Slides

W, 9/26

1

What is a Security Interest?

Clark

(Background: 1-4, 15-33), 34-41

1-201(b)(35), 9-101, 9-102(a)(12,28,73,74), 9-109(a), 9-201, 9-202, 9-203(a,b), 9-408(c); 9-108, 9-203(a,b)

Slides

Th, 9/27

2

Attachment: Authenticated Security Agreement; Description of the Obligation Secured

Bollinger, Caterpillar Financial Duckworth

41-60

9-102(a)(28), 9-108, 9-204(a)

Slides

W, 10/3

3

Attachment: Description of the Collateral

Baldwin, Shelby County, Helms

61-78

 

Slides

Th, 10/4

4

Attachment: Rights in the Collateral

Bryan Bros. Cattle, Moglia

79-95

Slides

M, 10/8, 12:15, Room II

5

Perfection:  Collateral Categorization

Bean Timberland, 11 East 36th, Commercial Money Center I

97-117

9-308(a,c), 9-310, 9-312(a,b), 9-313(a,c)

Slides

M, 10/8, 2:45

6

Perfection: Debtor’s Name

Tyringham Holdings, Jim Ross Tires, PTM Technologies, ISC, Bryan Bros. Cattle, Nay

118-142

9-502, 9-503, 9-506

Slides

W, 10/10

7

Perfection: Creditor’s Name

Copper King, Oak Rock Financial

143-64

9-108, 9-504

Slides

Th, 11/11

8

Perfection: Description Requirement/Possession

Thorp Commercial, ProGrowth, Commercial Money Center II

165-93

9-312(a,b)), 9-313(a,c)

Slides

M, 10/15

9

Perfection: Deposit Accounts and Control

Benedict, Counceller, Fewell

193-211

9-104, 9-203(b)(3)(D), 9-312(b)(1), 9-314

Slides

W, 10/17

10

Priority: Introduction, Theory and Mechanics

Foos, Caterpillar Financial, Hilyard

215-230

9-308(a,c), 9-317, 9-322, 9-339, 9-515(a,c,d)

Slides

Th, 10/18

11

Priority: Mechanics/Its Nature and Its Limits

The Computer Room, Mudge, Grede

231-253

9-317, 9-339, 9-401, 9-610

Slides

W, 10/24

12

Priority: Purchase Money Security Interests

MBank Alamo, Billings

253-271

9-102(a)(24), 9-103, 9-317(e), 9-324

Slides

Th, 10/25

13

Proceeds: Introduction

Karle, 1st Source Bank

281-294

9-102(a)(9,12,58, 64), 9-203(f), 9-315, 9-322(c –f), 11 USC 552(a, b(1))

Slides

M, 10/29

14

Cont.

Tracy

305-316

 

Slides

W, 10/31

15

Transfers of Property

Diamond Walnut, Tusa, Bean Timberland

316-340

9-322(c – f), 9-327, 9-332, 9-320, 9-321, 9-325

Slides

Th, 11/1

16

Changes: Location and Choice of Law Issues

SemCrude

343-366

1-301 & 302, 9-301, 9-304, 9-307, 9-316

Slides

M, 11/5, 12:15

17

Changes: Debts and Debtors

Bryan Bros., Zartman, Fretz

366-385

9-102(a)(72), 9-204, 9-310(c), 9-323, 9-502(a)(2), 9-503(d), 9-514

Slides

M, 11/5, 2:45

18

Changes: Names and Entity Structure

Patriot Electric, Summit Staffing, Kupperman

385-406

9-102(a)(56,60), 9-203(d,e), 9-325, 9-326, 9-507, 9-508

Slides

W, 11/7

19

Changes: Financing Statements

Motors Liquidation (x3)

406-424

9-512, 9-513

Slides

M, 11/12

20

Default and its Consequences

Williams, Salisbury

425-442

9-601 to 9-603, 9-609

Slides

W, 11/14

21

Cont.

Davis Forestry, Harley-Davidson, CBGC Holdings

442-470

9-607 to 9-611, 9-615, 9-617, 9-620, 9-623, 9-625 to 9-628

Slides

Th, 11/15

22

The Limits of Article 9: Intellectual Property

Cybernetic Services, Aerocon

465-493

9-109(c)(1), 9-311

Slides

M, 11/19

23

The Limits of Article 9: Setoff; Sales

Kentucky Highlands, CMC

503-525

9-109(a)(3), 9-109(c)(10), 9-309(3,4), 9-332, 9-340, 9-341

Slides

M, 11/26

24

The Limits of Article 9: Characterization Problems

Overton, Gibraltar

526-552

1-201(b)(35), 1-203, 9-102(a)(20), 9-109(a)(1,4), 9-319

Slides

W, 11/28

25

Security Interests Near and In Bankruptcy

Marblegate

591-624

BC 544, 547, 550, 551

Slides

Th, 11/29

26

Cont.

Boston Generating

634-649

Slides

M, 12/3

27

Review

All Slides

 

 

Slides