Introduction: Secured Transactions and Suretyship

Learning Objectives

After reading this chapter, you should understand the following:

  • The basic concepts of secured transactions
  • The property subject to the security interest
  • Creation and perfection of the security interest
  • Priorities for claims on the security interest
  • Rights of creditors on default
  • The basic concepts of suretyship
  • The relationship between surety and principal
  • Rights among cosureties