Commercial Finance Law: Creditors' Rights
- 1.5 credits
- Prerequisite: Above class gives priority to BUS GAP students. MBA and MSIS students may contact department, CG 2000, for permission.
L540 is a study of the law of commercial financial transactions, including the rights and duties of owners of personal property and the rights and duties of debtors and creditors affecting the decisions of business managers, accounting professionals, financial and investment executives, and management consultants. L540 begins with a study of personal property issues, including the law of bailments. The law of commercial and consumer finance is considered, especially the law of debt instruments--called commercial paper--such as checks and promissory notes. It continues with a survey of the law of suretyship and the law of secured transactions, by which a creditor attempts to reduce the risk of a debtor’s nonpayment by securing the debtor’s obligation with property of the debtor. The course includes the final chapter in the debtor’s saga, bankruptcy, especially Chapter 7 of the Bankruptcy Code (liquidations).