About USC Gould
USC Gould is a top-ranked law school with a 115-year history and reputation for academic excellence. We are located on the beautiful 228-acre USC University Park Campus, just south of downtown Los Angeles.
Learn about our rigorous and interdisciplinary curriculum, our invaluable experiential learning opportunities, and the breadth and depth of our specialized areas of concentration and certificate offerings.
- Student Life
Participate in an unparalleled learning experience with diversity of people and thought. Get involved in the law school community and participate in activities that enhance your studies.
We work closely with students, graduates and employers to support successful career goals and outcomes. Our overall placement rate is consistently strong, with 94 percent of our JD class employed within 10 months after graduation.
Our faculty is distinguished for its scholarship, as well as for its commitment to teaching. Our 12:1 student-to-faculty ratio creates an intimate and collegial learning environment.
- Alumni and Giving
Alumni and Giving
The global Trojan network of more than 10,000 law alumni and donors include recognized leaders in numerous fields who are deeply committed to supporting student and law school success.
- + AREAS OF CONCENTRATION
- ALTERNATIVE DISPUTE RESOLUTION
- BUSINESS LAW
- MEDIA, ENTERTAINMENT AND TECHNOLOGY LAW
- PUBLIC INTEREST LAW
- + EXPERIENTIAL LEARNING
- + NON-DEGREE PROGRAMS
- ACADEMIC CALENDAR
- COURSE DESCRIPTIONS
Secured Transactions (Fall 2017)
- Course Number: LAW-642
- Class Number: 03295
- Instructor: Michael Simkovic
Financial markets help solve a fundamental problem: how to coordinate billions of people’s activities to increase the world’s collective standard of living. Isolated individuals can barely feed, clothe, and shelter themselves. On the other hand, a system that enables individuals to specialize can support a modern, sophisticated civilization.
Credit markets help coordinate activities by expanding the concept of reciprocity—“I will do something for you now if you do something for me later”—to vast numbers of individuals who are unrelated and do not know each other. Resources can be moved through time and space, collected and distributed seamlessly and efficiently. Our economy is built on credit.
Lenders face risk that borrowers will not repay them, and these risks can make lenders reluctant to lend. The legal system offers protections to lenders to help assure timely and full repayment, and these protections can be greatly enhanced if lenders become “secured” by obtaining collateral. The secured lending system also facilitates coordination and information sharing among lenders so that multiple lenders can provide capital.
Secured Transactions is the study of the system of secured lending—that is, lending against collateral—and how commercial law helps serve business and public needs. The course is structured to be interactive and relies on student participation through “problem sets” which resemble role playing or simulation exercises. (These tend to be fun). Students will learn about Article 9 of the Uniform Commercial Code, filing and mortgage recordation systems, and will gain practical experience drafting a very basic security agreement and financing statement.
Secured Transactions expands on concepts introduced in first year classes such as Contracts, Fundamental Business Principles, and to a lesser extent, Property, Torts, and Criminal Law. Secured Transactions is recommended for all students considering a career in business or corporate law, in financial services, or in real estate.
Students are encouraged to take a class on Business Organizations either contemporaneously with or prior to Secured Transactions. Additional courses that may be helpful and interesting, but are not required to benefit from the Secured Transactions course, include a commercial law survey, bankruptcy, or corporate finance.
- Unit Value: 3
- Grading Options: Numerical or CR/D/F
- Schedule: T 2:00 pm - 4:30 pm
- Room Number: Room 1
- Exam: In-class exam
- Writing Requirement: No
- Skills Requirement: no
- Participation: Points may be awarded
- Enrollment Limitation: 40 students
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