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Business Law: Sales & Secured Transactions

This research guide will point you to several general resources for conducting business law research with focuses on commercial law, bankruptcy law, and secured transactions. There are also dedicated sub-guides for Asian business and financial news.

Overview

In the United States, the law of secured transactions covers the creation and enforcement of a security interest. In most cases, a secured transaction occurs when a person or business borrows money in exchange for collateral for the purpose of acquiring property, including real estate, vehicles or business equipment. A security interest exists when the borrower enters into a contract that allows the lender-creditor, also known as the secured party, to take the collateral the borrower owns in the event that the borrower cannot pay back the loan.  Article 9 of the Uniform Commercial Code governs security interests in personal property; it has been adopted, with some modifications, by every state.

The law of sales is primarily governed by Article 2 of the Uniform Commercial Code; every state except Louisiana has adopted it.  In cooperation with each state's sales laws, Article 2 regulates every phase of a transaction for the sale of goods and provides remedies when problems arise (e.g., implied warranty of merchantability, implied warranty of fitness).

Treatises

Study Aids