| Secured Transactions In The United States |
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In law, secured transactions are an integral part of the Uniform Commercial Code (UCC). Article 9 of that Code governs personal-property secured transactions in all fifty American States . The provisions of Article 9 supply a predictable way of creating and enforcing security interests in Movable Property , intangible property, and Fixture s. Because of the importance of secured transactions, Commercial Law yers typically have (or claim to have) great familiarity with the provisions of Article 9. Real-property secured transactions are governed not by Article 9 but by real-property laws that are not necessarily uniform from state to state. Security interests are particularly valuable in Bankruptcy , because those creditors who have security interests in a bankrupt debtor's Estate have priority—i.e., will get paid before—creditors who lack such interests ("unsecured" creditors). NOTES
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