Commercial Transactions

  • This Subject Area Index lists all CALI lessons covering Commercial Transactions and Secured Transactions.
  • The Commercial Transactions and Secured Transactions Outline allows you to search for terms of art that correspond to topics you are studying to find suggestions for related CALI Lessons.
Lesson Viewed

Secured Transactions: Bankruptcy and the Automatic Stay Podcast

The topic of this podcast 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.

Lesson Viewed

Secured Transactions: Basics Podcast

This podcast 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.

Lesson Viewed

Secured Transactions: Debtors’ Names Podcast

This podcast 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. 

Lesson Viewed

Secured Transactions: Fixtures Podcast

This podcast 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. 

Lesson Viewed

Secured Transactions: Lapse, Continuation, and Termination of Security Interests Podcast

The topic of this podcast is how a secured creditor goes about maintaining a perfected security interest in order to prevail against others who might claim the same collateral. This topic primarily requires a careful reading of UCC §§ 9-513 and 9-515 and a basic understanding of how a secured party attaches and perfects its security interest in the first place. The basic concepts associated with this podcast are: priority, perfection, lapse, termination, and continuation.

Lesson Viewed

Secured Transactions: Perfection of Security Interests Podcast

This podcast 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.

Lesson Viewed

Secured Transactions: Possession, Control, and Automatic Perfection Podcast

This podcast 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.

Lesson Viewed

Secured Transactions: Priority: Purchase Money Security Interests (PMSI) Podcast

The topic of this podcast is which party will prevail in a competition for collateral as between sellers or lenders having a purchase money security interest (“PMSI”) and other creditors with a security interest in the debtor’s assets. While secured parties might expect to prevail with respect to their collateral most of the time, those sellers and lenders that have a purchase money security interest also have expectations. This podcast will examine the nature of a PMSI and the rules that come into play to determine which creditor has priority under § 9-324.

Lesson Viewed

Secured Transactions: Priority: Sellers v. Secured Parties Podcast

The topic of this podcast is which party will prevail in a competition for collateral as between sellers and the creditor with a security interest in the debtor’s assets. While secured parties might expect to prevail with respect to their collateral most of the time, sellers of goods to a debtor who have not been paid for the goods also have expectations.

Lesson Viewed

Secured Transactions: Proceeds and Related Concepts Podcast

This podcast 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.

Lesson Viewed

Secured Transactions: Repossession of Collateral Podcast

The topic of this podcast 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.

Lesson Viewed

Secured Transactions: Scope of Article 9 Podcast

The topic of this podcast 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.

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