Financial institutions and other businesses often take an interest in a debtor's personal property (such as goods, equipment, inventory and accounts) to secure payment of a debt or performance of an obligation. The secured transactions course deals with the law governing security interests in personal property which is embodied primarily in Article 9 of the Uniform Commercial Code.

The course has several goals. The first is to provide students with a working knowledge of Article 9 and related bodies of law. The second goal is to use Article 9 as an example to illustrate how to approach, work with and interpret an unfamiliar statute. The third objective is to discuss and become familiar with many common forms of business transactions and how such transactions work, including loan agreements and other financing arrangements.