2008 Comm'l Law Outline

2008 Comm'l Law Outline - Commercial Law Outline Professor...

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Commercial Law Outline Professor Bjerre Fall 2008 I. CREDITORS’ REMEDIES UNDER STATE LAW . .......................................................................................... 4 A SSIGNMENT 43: R EMEDIES OF U NSECURED C REDITORS U NDER S TATE L AW ...................................................................... 4 1) What is an Unsecured Creditor? . .................................................................................................................... 4 2) How Do Unsecured Creditors Compel Payment? . .......................................................................................... 4 3) Limitations on Compelling Payment. ................................................................................................................ 4 A SSIGNMENT 44: S ECURITY AND F ORECLOSURE ................................................................................................................ 5 1) Secured Creditor/Secured Party. ...................................................................................................................... 5 2) Liens and Security Interests. ............................................................................................................................. 5 3) Foreclosure of SI v. Taking Possession of Collateral. ..................................................................................... 5 4) Lease Problem . ................................................................................................................................................ 6 A SSIGNMENT 45: R EPOSSESSION OF C OLLATERAL ............................................................................................................ 6 1) Right to Possession Pending Foreclosure. ....................................................................................................... 6 2) Article 9 Right to Self-Help Repossession 9-609(a). ........................................................................................ 6 3) Limits to Self-Help: Breach of the Peace – UCC 9-609(b)(2). ........................................................................ 7 A SSIGNMENT 47: A RTICLE 9 S ALE AND D EFICIENCY ........................................................................................................ 7 1) Strict Foreclosures 9-620(a) . ........................................................................................................................... 7 2) Sale Procedure under Article 9 – 9-610. .......................................................................................................... 8 3) D’s Redemption of Collateral Before Sale – 9-623. ......................................................................................... 8 4) Problems w/ Art. 9 Sale Procedure. ................................................................................................................. 8 5) Where the $$ from the Sale Goes – 9-615: “Priority Preview” . ..................................................................... 9
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This note was uploaded on 04/27/2010 for the course LAW 840 taught by Professor Tim during the Spring '10 term at University of Louisville.

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2008 Comm'l Law Outline - Commercial Law Outline Professor...

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