This three-hour course examines the full array of state-law remedies available to secured and unsecured creditors in the collection of debts and also examines the correlative procedural and substantive rights of debtors in shielding their assets from creditors' claims. The course focuses, however, on the rights and duties of parties to secured transactions under Article 9 of the Uniform Commercial Code. Primary attention is given to the ordering of claims when the debtor has insufficient assets to satisfy all of her debts and also when she files, or is forced into, bankruptcy. Throughout the course students will practice statutory interpretation; consider the relationship among sources of law (including the law of the parties' agreement, enacted law, and common law); argue about the proper roles of the legislator and judge in making law; and debate a variety of other jurisprudential issues (and some social/policy issues, too) that transcend the substance of the law of creditors' rights.
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