KAPLAN BAR REVIEW hangout

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annalisa
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Re: KAPLAN BAR REVIEW hangout

Postby annalisa » Sun Jul 27, 2014 11:22 am

Guys, please send some of your mellow, de-stressed vibes my way. This is my last full on hardcore day of studying (my test doesn't start until Weds) but my MBE scores have dropped almost 10% in the past few days! halp :oops:

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silky bruh
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Re: KAPLAN BAR REVIEW hangout

Postby silky bruh » Sun Jul 27, 2014 11:24 am

Tanicius/Anyone else awesome

Do you have an outline similar to the commercial paper one on how to attacked secured transactions in an essay?

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Tanicius
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Re: KAPLAN BAR REVIEW hangout

Postby Tanicius » Sun Jul 27, 2014 11:24 am

Bro Bono wrote:Tanicius/Anyone else awesome

Do you have an outline similar to the commercial paper one on how to attacked secured transactions in an essay?


I'll make one right now. This will be a fun review. Stay tuned, probably won't take that long.

annalisa
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Re: KAPLAN BAR REVIEW hangout

Postby annalisa » Sun Jul 27, 2014 11:29 am

Bro Bono wrote:Tanicius/Anyone else awesome

Do you have an outline similar to the commercial paper one on how to attacked secured transactions in an essay?


My goal for any UCC-based question is to just put all laws I have memorized in some sort of concise order, then hope my analysis makes sense (it's kind of the same way I passed chemistry in high school?). So, this is the outline I use, though it is really over-simplified for this purpose:

1. Start off with "Article 9 will apply because a secured transaction is involved"
2. What is the collateral (is it consumer, equipment, etc)
3. Talk about PMSI
4. Talk about attachment
5. Talk about perfection
6. Talk about priorities

Then as far as priorities go, I got this from a professor at school:
1. Buyer in the ordinary course
2. Perfected PMSI
3. Perfected secured
4. Unperfected secured
5. Unsecured

Hope it helps!
Last edited by annalisa on Sun Jul 27, 2014 11:30 am, edited 1 time in total.

sandcastle45
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Re: KAPLAN BAR REVIEW hangout

Postby sandcastle45 » Sun Jul 27, 2014 11:30 am

Can someone give me an example of how "facts of independent significance" would play out in a trusts/wills question? I understand the concept in theory, but it's one of those things that seems so obvious that I'm having trouble figuring out how it would play out in practice.

I'm still studying, but at this point, I am feeling better. I think I have enough of a handle on MEE essay subjects to be able to bullshit, and outlined a bunch of MBE-subject ones yesterday and was doing pretty decently. (I even got a property one like 95% right - a miracle!).

My score went up on the additional and I've trying to do questions and listening to Chris Fromm's videos. I don't think I'll ever be great at commercial paper, secured transactions, and trusts but hopefully I've got enough there in case it comes up.

Of course I am telling myself all this and feeling generally okay, but at the same time am telling myself that if I fail, I still have my health and family/friends so if I fail, it's really not the end of the world. :lol:
Last edited by sandcastle45 on Sun Jul 27, 2014 11:31 am, edited 1 time in total.

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silky bruh
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Re: KAPLAN BAR REVIEW hangout

Postby silky bruh » Sun Jul 27, 2014 11:30 am

Tanicius wrote:
Bro Bono wrote:Tanicius/Anyone else awesome

Do you have an outline similar to the commercial paper one on how to attacked secured transactions in an essay?


I'll make one right now. This will be a fun review. Stay tuned, probably won't take that long.


Rich. I barely know anything about negotiable instruments and feel like I'll be fine on an essay just following your outline.

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Re: KAPLAN BAR REVIEW hangout

Postby NonTradHealthLaw » Sun Jul 27, 2014 11:45 am

sandcastle45 wrote:Can someone give me an example of how "facts of independent significance" would play out in a trusts/wills question? I understand the concept in theory, but it's one of those things that seems so obvious that I'm having trouble figuring out how it would play out in practice.

I'm still studying, but at this point, I am feeling better. I think I have enough of a handle on MEE essay subjects to be able to bullshit, and outlined a bunch of MBE-subject ones yesterday and was doing pretty decently. (I even got a property one like 95% right - a miracle!).

My score went up on the additional and I've trying to do questions and listening to Chris Fromm's videos. I don't think I'll ever be great at commercial paper, secured transactions, and trusts but hopefully I've got enough there in case it comes up.

Of course I am telling myself all this and feeling generally okay, but at the same time am telling myself that if I fail, I still have my health and family/friends so if I fail, it's really not the end of the world. :lol:


My Wills prof used the following example: Trudy leaves her car to Barbara in a validly created will written in 1999. At that time, Trudy has a Ford Escort. When Trudy ties in 2014, she was driving a Bentley. Barbara gets the Bentley, because Trudy's acquisition of the new car had nothing to do with her intent to give Barbara the Escort in 1999. Her motivation for getting the Bentley was independent of the testamentary gift.

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Tanicius
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Re: KAPLAN BAR REVIEW hangout

Postby Tanicius » Sun Jul 27, 2014 1:37 pm

Secured Transactions Basics: What the shit is this topic about?

Maybe it helps to explain what secured transactions is not about. Contract Law and Article 2 of the UCC are about transactions of goods and services: you exchange something, to buy a product. That's not what you're doing under Article 9 for secured transactions. Secured transactions is about protecting (securing) the exchange, not the rules governing how you can actually make the exchange. It's an unfortunate reality that a lot of people who agree to pay you, won't actually pay you. Article 9 helps you, the lender, in one of two ways: (1) by giving the debtor an incentive to pay you back (no one likes it when the repo man comes for their TV); and (2) it provides a relatively easy recourse to the lender in the event that the incentive fails and the debtor becomes unable or unwilling to pay off their debt, by giving the lender rights to the pre-agreed-upon collateral.

Why do we have to learn this stupid topic?

Probably because in the practice of non-corporate law, this is how you get most of your clients to actually pay you. Imagine you're a criminal defense attorney, and you're representing a guy who will go to prison for 10 years if you lose. He's been charged with fraud. Are you just gonna trust that asshole to pay you the money he owes you? He's a fraudster -- that's why he needs your services as a defense attorney in the first place. He'll just as soon rip you off as he ripped off all the victims that called the police. And what happens if you lose and he goes to jail? It's not like he'd be able to work off his $7,000 debt to you for his case while working for 20 cents a day in prison. So what do you do? You get a government-secured interest in some of your clients' property.

Now consider just how real that hypo is for the vast majority of actual lawyers, and now you see why they want us to know these rules. People hate paying other people when they don't have to, so this is the law's solution. It's created all these rules to make sure that there are systems in place both to protect the interests of lenders, but also to make sure that lenders can research the collateral they're attaching secured interests to. We want this centralized government system that you can check in on to see if someone else has already tried to secure the same collateral you're securing. If that's the case, ideally you will wisely say "Hell no" and refuse to make a deal with the guy unless he can put up some other kind of collateral that isn't already burdened by a security arrangement.

Let's outline the basic issues to look out for in chronological order now:

1. Identify the players.
2. Creation of an attached security interest.
3. Classify the goods subject to the security agreement.
4. Perfecting the security interest.
5. Prioritizing different security interests when multiple creditors claim priority.
6. Some more random types of priorities.
7. Re-continuing an outdated perfected interest.
8. Repossession and foreclosure.

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1.) Who are the players?

Classify everyone into: creditor/secured party, debtor, obligor.

Find out who is providing money, goods, or services to whom. A mechanic is providing services to a guy, so that probably means the customer is probably gonna be the debtor, and the mechanic is probably gonna be the secured party. A bank is lending $150,000 to a guy so he can buy a house, so the bank will want the security agreement and the customer's probably going to be the one who fucks up and needs to give up some collateral at the end of the problem. Maybe there are third-party creditors too. Maybe the customer is a real asshole/idiot and uses his car to secure payment for three different loans.

Remember that the obligor/debtor aren't necessarily the same person. The obligor is the person who owes the money or services due on the loan. They're the person who has to do the thing that will prevent default and the foreclosure sale. It could be the customer's dad who signed a surety agreement guaranteeing that his son will honor the deal. The obligor is the person who's getting screwed. The debtor is the person who made the idiotic arrangement. Usually, but not always, the debtor and obligor are the same person.

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2.) The creation of a secured interest. (Attachment requires: agreement, value, debtor's legal title, in any order.)

Remember, these things are anomalies in the universe of contracts. They're not a normal part of a contract. Normally, you'd just make a contract, pay the money, get delivery/performance, and that's that. The security agreement is never presumed with a contract. It has to be created by its own agreement or clause in a contract.

So what do you need for a security interest to exist? It's basically a contract with relatively loose requirements, the most important and heavily tested being the agreement signed by both parties. Obviously, the debtor has to know that they're potentially giving up rights to the collateral. More importantly, you have to identify the collateral by something more specific than "assets". Then you need value, which isn't the same thing as consideration. Unlike consideration, it can be paid at the time of the agreement, or it could have been paid any time in the past. And finally, you need the debtor to actually have legal rights to the property in the first place. If Sam doesn't have rights to Tim's car, it wouldn't be very fair to let Sam make a security agreement with a bank over Tim's car. Just remember that none of this shit has to be done in any order. You can make an agreement, then give value a month later, and then maybe two years later Sam finally owns Tim's car. Boom, the security right by Sam's bank has now attached.

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3.) Classifying the goods.

This part sucks and is hyper technical. Just gonna have to wrack your brain remembering the lecture: Tangible goods, and intangible goods. Why does this stuff matter? It rarely does to be honest. Just look at the list on your Kaplan outline. You've got the four tangible goods: farming goods, consumer goods, inventory (that rapidly consumed stuff), and equipment. Remember that which category it falls into can change depending on the user. Washers and dryers are inventory at Sears, but at a hotel they're equipment. Forklifts are equipment at Sears, but inventory at BigCat's forklift factory.

Then you've got your intangible goods. There's so many to count, I don't honestly expect to memorize most of them. Chattel paper, bank deposits, intellectual property like patents. Bank accounts. You can give someone a collateral interest in all of this shit if you want, though it sure sounds inefficient and unreliable doesn't it? "Instead of writing you a check, why don't you take this check my grandmother gave me for my birthday money?" Yeah, okay Bar Examnistan.

Why does classifying shit matter?

- Because different kinds of collateral interests have different rules of priority when people are dumbasses and give out multiple interests in their same collateral.
- Because people are assholes and will sell the shit that someone else has a security interest in! If a bank has an interest in your car, it's quite rude to sell your car to Jimmy down the street, but it happens.
- Also, sometimes as a normal business practice, you have to sell the stuff that other entities have security interests in.What if a bank secures an interest in all of Sears inventory? Obviously the bank wants Sears to keep selling its inventory, so Article 9 created rules for tracking and transforming your security interests in goods that become different goods over time.

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4. Perfecting your security interest.

This is important. It's important in the same way that you would want to record a deed in a Property problem. Because people are assholes and/or dumbasses, they will secure multiple different debts using the same good or set of goods. Someone is getting screwed, and hopefully ain't gonna be you. The way to make sure it ain't gonna be you is to perfect your security interest. It's a record of your security agreement that other potential creditors can see. You're (1) hopefully warding off future potential creditors from your interest, because they see the notice filed in the state office, but because it's the bar you're more likely (2) protecting your interest when a future idiotic creditor decides to go to bat for that same piece of collateral anyway. LoL, what a dumbass.

Okay you've convinced me to perfect. How do I do it?

Well, there are actually several ways.

Goddamn it. Okay tell me the different ways of the art of perfection, Sensei.

The pleasure is not mine, Padawan. So, first you got your security interests that file automatically. Yeah, these are awesome.

a.) Namely, PMSIs perfect automatically. What's a PMSI again? You remember property -- it's the most common form of a mortgage that every middle class person in America invariably has. It's where you are securing a purchase of something, with the very thing you're buying. Say you're not that obnoxious gunner in Contracts class who is paying for law school with his parents' cash. Unlike him, when you pass the bar, you won't be able to just walk into a Maserati dealership and throw cash at the dealer and drive a car out the door. You need to finance your car. "Okay," the dealer says. "I'll let you buy my 2010 used Honda Fit, and I won't require the full payment from you today. But guess what, buddy? If you stop making your monthly payments, I get to hire Brutus over there in the corner to come to your house and take the Fit back from you. Fail to make your payments, and the car is mine, forever." And like everyone else, you don't really listen to him and say "Yeah yeah, sure, whatever, gimme the keys."

Why do PMSIs perfect immediately? Well, on a policy level it makes sense. If PMSIs didn't perfect immediately, we'd never be able to finance anything. Sellers would just refuse to sell us expensive products like cars and sofas because they'd be too worried that we'd go off and use the product as collateral and give someone else an interest in the expensive good before we even fully paid for it. For some reason, though, a lot of sellers in the Article 9 essays will be real tight-asses and require a PMSI for a microwave.

b.) Identifiable proceeds perfect automatically. What are proceeds? They're anything you get in return for selling a piece of property that has a security interest. Let's say you're Sears, and your empire is failing, so you secure a loan from a bank and in return give the bank a security interest in all of the washers and dryers you sell as inventory at Sears. The bank doesn't just lose its security interest when you sell those washers and dryers. They get to check your receipts and prove that they also have a security interest in all of the money you made selling those washers and dryers. Here's the catch, though: They remain perfected for only 20 days. After 20 days, you gotta file a perfection statement.

c.) Cars perfect automatically. Maybe you remember that there's a very special rule for cars: The ONLY way to have a valid security interest in a car (a car that's not inventory at a car dealership, at least), is to put your name on the deed of title for the car. There is an irrebuttable presumption that whoever has their name on the car's title card is person with the secured interest. In theory, you could mark down several different secured parties on the car's title card, and whoever put their name on there first in time wins.

d.) Bank deposit boxes. Whoever has control of the deposit has a perfected security interest on the deposit box. TBH, I don't know what the hell this actually looks like in real life. If you give a bank written authorization to allow someone else to access your deposit box, is that all it takes? I think that's all it takes, but who knows. (But see! This is why this classification of goods actually matters! Exciting!)

Please tell me that non-automatic perfection is simpler...

LOL, sorry. But don't worry it's not too bad. Non-automatic perfection is basically a few extra steps added to a security agreement:

i. filing a financing statement with the Secretary of State in the state where the debtor resides
ii. paying a fee for the financing statement (otherwise it's no good)
iii. getting authorization from the debtor (this is often sufficed by the written security agreement, which can be created before or after any of these steps, just like everything else)

Two very important notes about the financing statement itself:

i. It must identify the collateral, but only super broadly; saying "all assets" is fine for the financing statement because you're just putting other potential creditors on notice. You're basically waving a big sign saying "Watch out! This stuff is already claimed!"

ii. You have to identify debtor PERFECTLY. This is probably something that could get tested. In most states, this means a verbatim rendition of the name on their driver's license. NO trade names or nick names! If his name says Robert on his DL, then "Bob" won't work! For organization entities, you must use the name on the Articles of Incorporation -- again, verbatim. If you fuck this step up, potential creditors will not be able to look up your interest in the collateral in the state registry because your typo-laden financing statement isn't going to pop up on the list of results.

iii. Third (but not important) part: You can fuck up your own name within reason, and still have an enforceable interest, since it isn't an important part of the search process by potential future creditors.

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5. Prioritizing secured/perfected interests.

Okay, now we're into the nitty gritty. Let's discuss some obvious priorities:

a.) Attached Secured v. Unattached and thus unsecured. So, your friend Dave orally promised he'd give you his TV but never signed an agreement? Too bad he signed an agreement with me, because I have priority, and you lose. (Watch out for situations where someone signed an agreement but still hasn't given value or actually obtained proper title yet.)

b.) Secured versus judicial lien. The lien will lose an attached security interest. This is fair, cause it's not like you knew a future judicial lien would be granted on a piece of property -- else, you would never have made the security agreement on it.

c.) Perfected versus secured. Waa womp, the idiot who never filed his security agreement with the state's gonna lose. Shoulda had more foresight, broski.

d.) Attached Secured versus Attached Secured. Oh shit! What now? It's actually really easy. Which one of you signed your agreement first? You win, even if your agreement did not fully attach until later, so long as it attached before the dispute arose.

e.) Perfected versus Perfected. Battle of the titans. This is where it gets real.

...And, anti-climatically, it's also very easy. Whoever filed or automatically perfected first wins. So this means that if the bank gives you a loan for a washer and dryer on Tuesday, and it filed its financing statement with the Department of State, even before it got any kind of authorization or written agreement from you consenting to the security interest, the bank's priority starts running on Tuesday. But wait! Sears sold you the washer and dryer on Monday and allowed you to finance the purchase with a PMSI! PMSIs perfect automatically, don't they? Yep. So, since Sears had an interest that was filed/perfected automatically before the bank filed anything, Sears wins. How could the bank have possibly won this fight? Easy -- they could have anticipatorily filed their financing statement on Friday when you talked to them about the loan, before you even bought the washer and dryer.

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6. Some random but very important priorities:

These are all easy, Tanicius. Give me a priority that's really stupid where we would be absolutely screwed if we saw this on the essay problem and didn't know the precise rule.

FiveSix of them, coming right up! (Unfortunately, you really should memorize these.)

a. An agreement perfecting security interest in after-acquired consumer goods. What the fudge am I talking about? Well, sometimes a guy will take out a loan, use one of his household consumer goods like his TV to secure it, but then he'll be a wise-ass and sell the collateral off in order to destroy the secured party's interest. A real douchenozzle, right? Article 9 solves this problem by allowing for a clause in the security agreement that will cover later-acquired (after-acquired) interest in goods purchased with the proceeds of a good you already have a security interest in. Here's the catch, though -- it's only good for after-acquired collateral that has been purchased within 10 days of the creditor giving value for the security interest. :?

b. After-acquired equipment versus a PMSI. This is a situation where one creditor has a security interest in "equipment and after-acquired equipment," and another creditor has a PMSI in new equipment they've just sold the debtor. This is what it looks like: A bank has a security interest in all washers and dryers at a hotel, and the hotel uses a PMSI from Sears to buy more washers and dryers. The PMSI holder (the most recent creditor in this situation) will have 20 days to perfect their PMSI after giving the collateral to the debtor; if they don't perfect within those 20 days, then the earlier secured party with the after-acquired equipment clause will win.

c. After-acquired inventory. Just as you can have a clause giving you rights to equipment that a debtor may later purchase with proceeds from your secured collateral, so too can you have a clause giving you rights to inventory they may later purchase using proceeds from your collateral. This rule is simple: Whoever sells the inventory to the debtor must perfect their interest in the new inventory before delivery. Once the debtor receives delivery of the inventory, the perfected after-acquired inventory clause holder will win.

d. Fixtures. This rule is the one UCC Article 9 rule that shows up on the Property MBE. The more you know! The battle is between the holder of a mortgage interest, and the holder of a secured interest in a fixture that the homeowner/building lessee has purchased to place in their home/restaurant/business/whatever. Example: A bank has a mortgage interest in your restaurant, and you purchase a giant deep fryer for your restaurant with a PMSI from Sears. Sears has 20 days to perfect its interest in the fixture, or it will lose to the holder of the building mortgage.

e. Buyer in the ordinary course. This is where a professional merchant sells to a good faith, no-notice buyer, and someone else has a secured interest in the merchant's inventory. The innocent buyer always wins... provided they are truly innocent and did not have actual knowledge of the security interest. This is a very high bar. We want to protect consumers. If a hardware store has a sign that reads "Everything you buy here today is subject to a security interest by Bank of America!"... not even that is good enough. The buyer must actually be informed that if they purchase a good from the merchant, a creditor will be able to repossess the good from them. An example where the buyer will not be considered innocent is if Bank of America places a sign on the store that says "All goods in this store are frozen subject to a security interest and may not lawfully be purchased; buy at your own risk."

f. Consignment interest. What is this? Well, sometimes, especially with the delivery of goods, the seller will "retain title" to the goods until full payment is received. It's not a PMSI, it's more just a random thing merchants will sometimes shove into their delivery terms that minimizes their risk in the event of a shipping accident or breach by the buyer. There are two ways you could conceivably tackle a fight between a perfected creditor and a consignor, and one of them is wrong. The wrong way: "Oh, the buyer doesn't have full title to the goods. This means that he doesn't have authority to make an attached security agreement with a third party, right?" Wrong! Here's the right way: If the consignor wants to retain title against a third party lender, they must file a financing statement representing their consignment interest in the goods, and they must do it before the third party files or perfects. This rule exists to protect third party creditors who take out a security interest in goods that they have no way of knowing are subject to a consignment clause.

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7. Re-continuing an outdated perfected interest.

It's still not over? Are you effing kidding me.

Nope, sorry, still not over. But this is rather straight-forward. Here are the ones that have the best chance of mattering:

a.) End of the five year mark. A perfect security interest only lasts five years! If you don't re-file a continuing interest in the perfected collateral, by the 364th day of the last year, your perfected interest dies and you have to start over as if you are filing for the first time right now. Perfected secured parties must be diligent and re-file before the 5-year mark. They may re-file the perfected interest any time after the 4-and-6-month mark.

b.) The debtor moves out of state. Find out which state they moved to. You have four months to file a perfected statement with the new state's Secretary of State.

c.) The collateral is moved out of state. Maybe the debtor sold it to someone else or just gifted it to someone else. You need to file a financing statement in the state the collateral moved to, again within four months.

d.) The debtor changes his name. Four months. Hop to it.

e.) You find an error with the debtor's name on the financing statement. You're fucked. The moment your perfected interest begins is when you correct the name.

f.) Identifiable proceeds. They are automatically perfected for 20 days, but afterwards you must file an amended financing statement that acts as a continuation of the financing statement you made out for the collateral they sold.

CAVEAT: Same office rule. I'm not completely sure what this affects. I've looked it up a whole bunch and still don't quite get it completely. Look it up in your outline and see if it makes sense to you now.

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8. Repossession and Foreclosure.

Aw yeah, end of the line. This is my weakest area for Article 9 because I'm always out of energy by the time I read this part of the outline. Knock on wood.

Fortunately, I don't think mot of this stuff really matters. It gets tested a lot, but it tests basic principles.

a.) If the debtor defaults, you can repossess so long as you do not breach the peace. This means you can go yourself, or you can hire self-help, and you don't even need to give the debtor notice, BUT... if the debtor refuses you entry onto his property, or if he refuses to give you the collateral, you have to back off and request help from the sheriff. It's really that simple. If any action you take could cause violence or requires force against a person's will, then you have breached the peace and your repossession is invalid.

b.) Give notice to all interested parties of foreclosure. Remember, just because you're the one who repossessed the property does not mean you're the only one with a security interest in it. You have to make a reasonable effort to identify and notify the debtor and all possible secured creditors and surety holders. They need not be present at the foreclosure sale, but they must be aware of it.

c.) Dispose of the collateral in a commercially reasonable manner. What defines commercial reasonability? Look to the custom for selling that type of good, the fair market value of it, the feasibility of any sale in the first place, and the reasonability of the auction, if that is how the creditor decides to proceed. Private auctions are not prohibited, but they must be fair, and the creditor cannot collude with someone else to under-pitch the price of the collateral. If a foreclosure sale is not feasible, the creditor may choose to rent it until the rent covers the debt. Another solution might be for a judge to put a lien on other property that is not subject to a security interest.

d.) Deficiency. Provided the sale was commercially reasonable, the debtor is liable for any deficiency. A court may put a lien on the debtor's property until the lien is satisfied.

e.) "Strict" Foreclosure rule. If the debtor has paid 60% or more of a PMSI, you can't keep the good as satisfaction and must sell it instead.

e.) Redemption. Same exact rules as Real Property. You can't waive this right until you're modifying the security agreement or in default, just like the mortgage rules, or it will clog your right of redemption. If you redeem, you must pay the full value of the good, plus any reasonable expenses incurred by the creditor in the collection/repossession/administrative process. Just like real property redemption as well, once the foreclosure occurs, the debtor is fucked.

f.) Remedies of a debtor against a misbehaving creditor: You can sue the creditor; you can ask for an injunction to enjoin the foreclosure or also to force a foreclosure; you can get conversion damages against a creditor who unlawfully repossessed your property ("Dude, WTF man, my loan isn't even due for another six months!") Lastly, a creditor who conducts the foreclosure is not liable to an unidentifiable creditor, debtor, or obligor.

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Congratulations! You know Secured Transactions well enough to bullshit an essay now!
Last edited by Tanicius on Sun Jul 27, 2014 2:47 pm, edited 8 times in total.

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lisjjen
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Re: KAPLAN BAR REVIEW hangout

Postby lisjjen » Sun Jul 27, 2014 1:41 pm

Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.

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Re: KAPLAN BAR REVIEW hangout

Postby northwood » Sun Jul 27, 2014 1:54 pm

lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.




I owe you copious amounts of drinks tanicius for that post

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silky bruh
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Re: KAPLAN BAR REVIEW hangout

Postby silky bruh » Sun Jul 27, 2014 1:58 pm

northwood wrote:
lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.




I owe you copious amounts of drinks tanicius for that post

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Re: KAPLAN BAR REVIEW hangout

Postby Tanicius » Sun Jul 27, 2014 2:04 pm

Made just one substantive edit: Consignment clauses. It's now in the list of super random but important priorities.

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Re: KAPLAN BAR REVIEW hangout

Postby spleenworship » Sun Jul 27, 2014 3:26 pm

I owe you another beer tanni. Come visit me and M and J and I'll get you wasted for free.

Thanks man.

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Re: KAPLAN BAR REVIEW hangout

Postby semplice » Sun Jul 27, 2014 5:52 pm

Tanicius wrote:Congratulations! You know Secured Transactions well enough to bullshit an essay now!


Wow. Thank you and nicely done.

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Re: KAPLAN BAR REVIEW hangout

Postby a male human » Sun Jul 27, 2014 6:16 pm

I'm not even in NY, and I want to learn secured transactions now.

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northwood
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Re: KAPLAN BAR REVIEW hangout

Postby northwood » Sun Jul 27, 2014 6:17 pm

a male human wrote:I'm not even in NY, and I want to learn secured transactions now.



no you dont

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Tanicius
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Re: KAPLAN BAR REVIEW hangout

Postby Tanicius » Sun Jul 27, 2014 6:19 pm

northwood wrote:
a male human wrote:I'm not even in NY, and I want to learn secured transactions now.



no you dont


Oh. Post-note... my entire post refers to MEE law. No state-specifics whatsoever.

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bazinga!
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Re: KAPLAN BAR REVIEW hangout

Postby bazinga! » Sun Jul 27, 2014 6:26 pm

lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.


This pretty much sums it up. Kaplan should pay you $$$ to go through and do a breakdown at the end of each section titled "What the fuck did I just read?!", and watch their pass rate soar.

Or, alternatively, TLS should probably compile these and sticky them. This is gold.

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spleenworship
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Re: KAPLAN BAR REVIEW hangout

Postby spleenworship » Sun Jul 27, 2014 6:34 pm

bazinga! wrote:
lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.


This pretty much sums it up. Kaplan should pay you $$$ to go through and do a breakdown at the end of each section titled "What the fuck did I just read?!", and watch their pass rate soar.

Or, alternatively, TLS should probably compile these and sticky them. This is gold.



Wait, there is more of these?

I'm supposed to hit Partnership, Agency, Wills, and Trusts tonight... did Tanni do any of those?

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bazinga!
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Re: KAPLAN BAR REVIEW hangout

Postby bazinga! » Sun Jul 27, 2014 6:40 pm

spleenworship wrote:
bazinga! wrote:
lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.


This pretty much sums it up. Kaplan should pay you $$$ to go through and do a breakdown at the end of each section titled "What the fuck did I just read?!", and watch their pass rate soar.

Or, alternatively, TLS should probably compile these and sticky them. This is gold.



Wait, there is more of these?

I'm supposed to hit Partnership, Agency, Wills, and Trusts tonight... did Tanni do any of those?


The only other one I know of is commercial paper, but it is ridiculously helpful. It's a few pages back.

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spleenworship
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Re: KAPLAN BAR REVIEW hangout

Postby spleenworship » Sun Jul 27, 2014 7:19 pm

bazinga! wrote:
The only other one I know of is commercial paper, but it is ridiculously helpful. It's a few pages back.



My state doesn't do commercial paper, thank God. I'll be honest, I don't know what commercial paper is, and I don't want to know.

Also, I don't care.

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soccerfreak
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Re: KAPLAN BAR REVIEW hangout

Postby soccerfreak » Sun Jul 27, 2014 7:24 pm

bazinga! wrote:
soccerfreak wrote:Alright guys, my primary distraction of the past week has finally culminated in a first date, possibly the night of the exam. Am I doing bar studying completely right, or completely wrong?


Tuesday night or Wednesday night? Wednesday night - then bravo and well done. Tuesday night...I don't see that date going great for either of you.

Oh gosh. Yea Wednesday night, I'm not completely insane.

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Grenadine
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Re: KAPLAN BAR REVIEW hangout

Postby Grenadine » Sun Jul 27, 2014 7:26 pm

spleenworship wrote:
bazinga! wrote:
The only other one I know of is commercial paper, but it is ridiculously helpful. It's a few pages back.



My state doesn't do commercial paper, thank God. I'll be honest, I don't know what commercial paper is, and I don't want to know.

Also, I don't care.


same to all of these, except for the "my state doesn't do commercial paper" :|


Also anyone looking for the other Tanicius summaries (can you not link posts here? or am I just dumb?) there's a freedom of speech one on page 31 and the commercial paper one is on page 30.

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Tanicius
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Re: KAPLAN BAR REVIEW hangout

Postby Tanicius » Sun Jul 27, 2014 7:43 pm

Okay guys, I'm figuring, it can't hurt to reinforce some of this stuff by writing it out in plain English, so why not. Wills are my weakest, so I'll start with Agency and Partnerships. These are not complicated subjects -- neither in scope, nor in depth, mostly because there's no statutory law about them for the bar exam to memorize.

Stay tuned.

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soccerfreak
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Re: KAPLAN BAR REVIEW hangout

Postby soccerfreak » Sun Jul 27, 2014 8:16 pm

lisjjen wrote:
Tanicius wrote: Congratulations! You know Secured Transactions well enough to bullshit an essay now!


As someone who didn't work as hard as I probably could have on Secured Transactions, you are the hero we need, but not the one we deserve right now.

Thank you Tanicius.

In all seriousness, these plain English descriptions are uniquely great for making the concepts stick! Just after reading that, I really think I do have a basic grasp of all issues and can B.S. my way to some points, where reading an entire outline I might get very little out of it.

Kudos.




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