The topic of this podcast by Professor Jennifer Martin is some of the basic concepts of bankruptcy, as well as the automatic stay, and some ways you might find to get around it. While most courses on secured transactions focus on U.C.C. Article 9, which is state law, sometimes you will find that a debtor declares bankruptcy. In the event that there is a bankruptcy, the secured creditor will have to know what actions it can and which it can’t take. Recall that while Article 9 is part of state law, bankruptcy law is part of federal statutory law. At the conclusion of this podcast, you should be able to (1) identify and describe the basic process of bankruptcy, including the various types; (2) describe how the automatic stay works; and (3) describe why a secured creditor might want to attempt to lift the stay.
This podcast by Professor Jennifer Martin discusses the nature of security interests, as well as some of the basic vocabulary that you will need to understand the concepts, using the rules set forth in the Uniform Commercial Code Article 9. The rules of Article 9 are state statutory law. The primary terms of art associated with security interests are generally defined in either 1-201 or 9-102, though some definitions are contained elsewhere. This podcast primarily focuses on security interests created under Article 9. At the conclusion of this podcast, you should be able to recognize the following vocabulary and use it correctly: security interest, attach, debtor, creditor, obligation, collateral, promissory note, security agreement, financing statement, priority, default, and possession.
This podcast by Professor Jennifer Martin discusses how a secured creditor goes about perfecting its security interest in order to prevail against others who might claim the same collateral. This topic primarily requires a careful reading of UCC § 9-310 and a basic understanding of how a secured party attaches its security interest in the first place, under § 9-203. Concepts covered include Form-1 and Financing Statement. At the conclusion of the podcast, you should be able to (1) describe the basic process of perfecting a security interest, including the requirements for filing a financing statement; and (2) describe why a secured creditor and searcher must use the correct system in order to protect their interest in collateral.
This podcast by Professor Jennifer Martin explains the use of after-acquired property clauses and future advances given by secured creditors. This topic primarily requires a careful reading of UCC § 9-204 and a basic understanding of how a secured party attaches its security interest in the first place. By the podcast’s conclusion, you should be able to (1) identify and describe when a secured creditor would want to use an after-acquired property clause in a security agreement to enable the creditor to reach collateral acquired by a debtor in the future; (2) identify when the limitations on the use of after-acquired property clauses arise; and (3) describe the process by which a creditor might be able to have the security interest cover obligations that might come into existence in the future as a future advance.
This podcast by Professor Jennifer Martin explains how a secured creditor that does not file a financing statement goes about perfecting its security interest in order to prevail against others who might claim the same collateral, and includes tips about the type of questions that might appear in the bar exam. This topic primarily requires a careful reading of UCC § 9-309 through § 9-314 and a basic understanding of how a secured party attaches its security interest in the first place. At the conclusion of this podcast you should be able to (1) describe the alternatives of perfecting a security interest by possession or control; and (2) describe when a security interest is automatically perfected because it is a PMSI in consumer goods.
This podcast by Professor Jennifer Martin explains how a secured creditor decides what debtor name it should use on a financing statement when perfecting its security interest. This topic primarily requires a careful reading of UCC § 9-503, § 9-506, and a basic understanding of how a secured party attaches its security interest in the first place. At the conclusion of this podcast you should be able to (1) identify the correct name to use for a debtor on a financing statement; and (2) describe when a secured creditor might want to make multiple filings.
The topic of this podcast by Professor Jennifer Martin is the nature of foreclosure of a security interest and, in particular, the right of a secured creditor to obtain possession of collateral after default. Like in many areas of the law a thorough understanding of secured transactions requires you to use the correct vocabulary relevant to the topic. Here we are using the rules set forth in the Uniform Commercial Code Article 9, though some of the basic concepts obtain their meaning from other law.
This podcast primarily focuses on repossession of collateral arising from a security interest created under Article 9. The basic concepts associated with repossession are: replevin, self-help, receiver, breach of the peace, and trespass. At the conclusion of this podcast, you should be able to (1) identify and describe the judicial as well as the non-judicial means that secured creditors can use to take possession of collateral upon a default.; and (2) describe some of the scenarios that would involve a breach of the peace, but realize that the factual nature of the determination might prevent self-help by a secured creditor.
This podcast by Professor Jennifer Martin discusses the transformation of collateral subject to a security interest, in particular whether a security interest exists in proceeds, products, offspring, accessions, and the like. This topic primarily requires a careful reading of UCC § 9-315 and a basic understanding of how a secured party attaches its security interest in the first place. At the conclusion of this podcast you should be able to (1) identify and describe proceeds, products, offspring, commingling and accessions, including the extent to which a creditor’s security interest attaches to these types of collateral without further action; and (2) distinguish those situations where new property of the debtor is not proceeds, often because the new property was not derived from the collateral.
The topic of this podcast by Professor Jennifer Martin is to summarize and evaluate the nature of security interests covered by Article 9. It will also cover transactions that are within the scope of UCC Article 9 even though the parties may not have intended to create a security interest. The primary code section associated with this inquiry is 9-109. This podcast primarily focuses on security interests created under Article 9, with tips for the type of question often asked on bar exams. At the conclusion of the podcast you should be able to (1) recognize transactions that are governed by Article 9; (2) recognize transactions such as sales of accounts and promissory notes that are likewise governed by Article 9; and (3) identify transactions that are not governed by Article 9 because they do not fit within our traditional construct of the security interest or are specifically excluded transactions.
This podcast by Professor Jennifer Martin discusses how a secured creditor can perfect a security interest in goods that are or might become fixtures in order to prevail against UCC or real estate claimants of the same collateral. This topic primarily requires a careful reading of UCC § 9-334 and an understanding of what is a fixture. At the conclusion of the podcast you should be able to (1) describe what a fixture is; (2) describe how a secured creditor might go about perfecting a security interest in a fixture; and (3) describe some of the priority rules related to fixtures.
