Glannon Guide to Secured Transactions: Learning Secured Transactions Through Multiple-Choice Questions and Analysis

331 Pages·2012·3.209 MB·English

by  Burnham, Scott J. Burnham

The Glannon Guide
to Secured Transactions

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EDITORIAL ADVISORS

Rachel E. Barkow
Segal Family Professor of Regulatory Law and Policy
Faculty Director, Center on the Administration of Criminal Law
New York University School of Law

Erwin Chemerinsky
Dean and Professor of Law
University of California, Berkeley School of Law

Richard A. Epstein
Laurence A. Tisch Professor of Law
New York University School of Law
Peter and Kirsten Bedford Senior Fellow
The Hoover Institution
Senior Lecturer in Law
The University of Chicago

Ronald J. Gilson
Charles J. Meyers Professor of Law and Business
Stanford University
Marc and Eva Stern Professor of Law and Business
Columbia Law School

James E. Krier
Earl Warren DeLano Professor of Law
The University of Michigan Law School

Tracey L. Meares
Walton Hale Hamilton Professor of Law
Director, The Justice Collaboratory
Yale Law School

Richard K. Neumann, Jr.
Professor of Law
Maurice A. Deane School of Law at Hofstra University

Robert H. Sitkoff
John L. Gray Professor of Law
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Harvard Law School

David Alan Sklansky
Stanley Morrison Professor of Law
Faculty Co-Director, Stanford Criminal Justice Center
Stanford Law School
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The Glannon Guide to Secured Transactions

Learning Secured Transactions
Through Multiple-Choice
Questions and Analysis

Third Edition

Scott J. Burnham
Frederick N. and Barbara T. Curley Professor of Law
Gonzaga University School of Law (retired)

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Copyright © 2018 CCH Incorporated.
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Library of Congress Cataloging-in-Publication Data
Names: Burnham, Scott J., author.
Title: The Glannon guide to secured transactions : learning secured transactions through multiple-choice questions and analysis / Scott J.
Burnham, Frederick N. and Barbara T. Curley Professor, Gonzaga University School of Law (ret.).
Description: Third edition. | New York : Wolters Kluwer Law & Business, [2017] | Includes index.
Identifiers: LCCN 2017047312| eISBN: 978-1-4548-9754-5 | ISBN 1454850086
Subjects: LCSH: Security (Law) — United States. | Security (Law) — United States — Problems, exercises, etc. | LCGFT: Study guides.
Classification: LCC KF1050.Z9 B87 2017 | DDC 346.7307/4 — dc23 LC record available at https://lccn.loc.gov/2017047312
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For my students. Gloria discipuli gloria magistri est.
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Contents

Acknowledgments

Chapter 1: A Very Short Introduction
A. Introduction to Secured Transactions
B. Answering Multiple-Choice Questions
C. How to Use This Book

Chapter 2: Working with the Uniform Commercial Code
A. Introduction
1. It Is Not Uniform
2. It Is Not Commercial
3. It Is Not a Code
B. Working with the Code
C. Closer
Burnham’s Picks

Chapter 3: What Is a Security Interest?
A. What Is a Secured Transaction?
B. Is It Better to Be a Secured Creditor Than an Unsecured Creditor?
C. Does a Transaction Create a Security Interest?
D. Closers
Burnham’s Picks

Chapter 4: Overview of Secured Transactions
A. A Secured Transactions Roadmap
B. Classification of Collateral
1. Introduction
2. Goods
3. Intangible Property
4. Quasi-Tangible Property
5. Fixtures
C. Consumer Transactions
D. Purchase Money Security Interests
E. Closers
Burnham’s Picks
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Chapter 5: The Scope of Article 9
A. Introduction
B. § 9-109(a) “Except as otherwise provided in subsections (c) and (d)”
C. § 9-109(a)(1) “a transaction, regardless of its form, that creates a security interest in personal
property or fixtures by contract”
D. § 9-109(a)(2) “an agricultural lien”
E. § 9-109(a)(3) “a sale of accounts, chattel paper, payment intangibles, or promissory notes”
F. § 9-109(a)(4) “a consignment”
G. Closers
Burnham’s Picks

Chapter 6: Creation of a Security Interest
A. Introduction
B. Sample Agreements
C. Is There a Security Agreement Authenticated by the Debtor?
D. Does the Security Agreement Contain a Description of the Collateral?
E. Closers
Burnham’s Picks

Chapter 7: The Security Interest as a “Floating Lien”
A. The “Floating Lien”
1. Sale or Exchange
2. Proceeds
3. After-Acquired Property
4. Future Advances
B. Sale or Exchange
1. The General Rule
2. First Exception: “When the Secured Party Authorized the Disposition”
3. Second Exception: “Except as Otherwise Provided in This Article”
C. Proceeds
D. After-Acquired Property
E. Prohibitions Against Security Interests in Certain Property
F. Future Advances
G. Closers
Burnham’s Picks

Chapter 8: Secured Party v. Debtor
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