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Every day billions of transactions, domestic and transnational, involve the sale of goods. Similarly, individuals and business entities throughout the United States are engaged in daily transactions in which large and small amounts of money are lent and borrowed. These loans are not made without the presence of what the law calls "security interests." Certainty and stability in the domestic and transnational economy are dependent upon the rules that govern these transactions. The central legal rules that do so are found in Articles 2 and 9 of the Uniform Commercial Code. Any lawyer engaged in general civil legal practice or in specialized commercial practice will likely be required to understand both sales law and secured transactions law and this is the chief reason that the Bar Examination requires a knowledge of these key aspects of Commercial Law. In examining Article 9, the course will also cover significant issues of Bankruptcy Law.
The focus of Commercial Law Survey is establishing a working knowledge of both Article 2 and Article 9. Instruction will follow a problem-oriented model, with students analyzing precisely the kinds of issues raised in practice. Because of the coverage overlap, Commercial Law Survey is not open to students who have taken Secured Transactions or Sale of Goods.