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  • This Subject Area Index lists all CALI lessons covering Commercial Transactions and Secured Transactions.
  • The Commercial Transactions and Secured Transactions Outline allows you to search for terms of art that correspond to topics you are studying to find suggestions for related CALI Lessons.

Commercial Transactions - Secured Transactions

CISG Basics: Formation

This lesson is second in a series that takes a look at formation of agreements governed by the U.N. Convention on the International Sale of Goods (CISG). The CISG provides a uniform set of rules for international sales contracts where the parties are located in different signatory countries. There are 11 separate provisions on contract formation under the CISG. This lesson sets out the basic requisites for determining whether an offer exists, when it is accepted and how to address a battle of the forms if the CISG applies. The general attributes of domestic contracts and other CISG contracts are covered in other lessons.

CISG Basics: Performance

This lesson is third in a series that takes a look at performance of agreements governed by the U.N. Convention on the International Sale of Goods (CISG). The CISG provides a uniform set of rules for international sales contracts where the parties are located in different signatory countries. There are 11 separate provisions on contract formation under the CISG. This lesson sets out the basic obligations of sellers and buyers, as well as looking at the ICC's Incoterms and how they affect the seller's obligations. The general attributes of domestic contracts and other CISG contract issues are covered in other lessons.

CISG Basics: Scope and General Provisions

This lesson is first in a series that takes a look at the basics of agreements governed by the U.N. Convention on the International Sale of Goods (CISG). The CISG provides a uniform set of rules for international sales contracts where the parties are located in different signatory countries. While some of the rules parallel those under the common law and Article 2 of the U.C.C., many are different. This lesson sets out the basic requisites for determining when the CISG applies and evaluating contracts governed by the CISG. The general attributes of domestic contracts and CISG contracts are covered in other lessons.

Formation of Contracts under UCC Article 2

This lesson deals with the formation of contracts under Article 2 of the Uniform Commercial Code (excluding 2-207 issues). Under UCC 2-204, a contract can be formed in any manner sufficient to show agreement, even if the parties leave open terms. This lesson will explore the effect of the difference in formation between common law and Article 2. You can work this lesson as an introduction to the formation of contracts under the UCC or as a review. The material in this lesson may be a more in-depth study of Article 2 than some first year contracts courses require.

New Ranch: Perfecting a Security Interest

The New Ranch lesson is the successor to the Ranch lesson. As with the Ranch, the New Ranch lesson leads students through the steps necessary to perfecting a security interest under Article 9 of the Uniform Commercial Code (UCC) in a multi-state contact situation. The exercise also assists students to understand many other provisions of Article 9, including those dealing with classification of collateral and those governing the place of filing within a particular state.

Secured Transactions: Priority: Buyers v. Secured Parties Podcast

The topic of this podcast is which party will prevail in a competition for collateral as between buyers of the collateral and secured parties. While secured parties might expect to prevail with respect to their collateral most of the time, buyers of goods also have expectations that are protected with respect to their purchases. The rules of Article 9 balance expectations so that buyers get good title to what they buy and have protection from pre-existing security interests in some circumstances. These rules are commonly tested on law school and bar examinations.

Secured Transactions: Bankruptcy and the Automatic Stay Podcast

The topic of this podcast is some of the basic concepts of bankruptcy, as well as the automatic stay, and some ways you might find to get around it. While most courses on secured transactions focus on U.C.C. Article 9, which is state law, sometimes you will find that a debtor declares bankruptcy. In the event that there is a bankruptcy, the secured creditor will have to know what actions it can and which it can’t take. Recall that while Article 9 is part of state law, bankruptcy law is part of federal statutory law.

Secured Transactions: Basics Podcast

This podcast discusses the nature of security interests, as well as some of the basic vocabulary that you will need to understand the concepts, using the rules set forth in the Uniform Commercial Code Article 9. The rules of Article 9 are state statutory law. The primary terms of art associated with security interests are generally defined in either 1-201 or 9-102, though some definitions are contained elsewhere. This podcast primarily focuses on security interests created under Article 9.

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