This course introduces the basics of commercial lending, discussing the principal transactions through which businesses raise money outside the securities markets. The course emphasizes the documents used in actual transactions and includes a substantial examination of the law governing mortgages and of Article 9 of the Uniform Commercial Code. The principal topics on the syllabus are The Basic Lending Transaction; Credit Enhancement; Creation of Liens; Maintaining Perfection; Remedies; and Priority.
Regular class attendance is required. In addition, any student who misses more than five class sessions without adequate excuse will be excluded from the exam.