Commercial Law

Catalog description

This course is basically about the law of personal property. It covers the sale of personal property pursuant to UCC Article 2 (while skipping purely contractual issues such as offer and acceptance or warranties). It covers the transfers of funds by check or other commercial paper or by letters of credit as governed by Articles 3-5 of the UCC and by federal check-clearing regulations. Finally, it covers the transfers of personal property to secure loans, which is governed by Article 9 of the UCC. Since the purpose of these security interests is, in part, to provide preferences in light of bankruptcy proceeding, the fate of security interests in bankruptcy is covered. The course is absolutely fundamental for anyone wishing to do transactional work or commercial litigation. Tested on the Bar Exam.