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A School of the Academy

School of Commercial Law

Department of Commercial & Transactional Law

Sales, secured transactions, negotiable instruments, and the UCC.

§ I

Introduction

Scope of Study

Commercial Law

Commercial law is a code. The School reads Articles 1 through 9 in sequence, with attention to definitions, default rules, and the variations adopted by jurisdiction.

§ II

Philosophy of the School

On how this School reads.

The Uniform Commercial Code is a code in the civilian sense: a comprehensive statement of default rules, joined to a vocabulary of defined terms. The School reads the Code as it was drafted — beginning with Article 1 and reading definitions before substance — and treats the Permanent Editorial Board commentary as a record of considered interpretation.

§ III

What Students Will Study

The commitments of the School.

A School commits to a set of questions and to a method of reading them. The following are the working commitments of this department.

  1. 01

    The architecture of the Uniform Commercial Code and its defined terms

  2. 02

    The formation, performance, and breach of a contract for the sale of goods

  3. 03

    The creation, perfection, and priority of a security interest

  4. 04

    The treatment of negotiable instruments and the holder-in-due-course doctrine

  5. 05

    The interaction of the Code with other bodies of contract and property law

§ IV

Curriculum

The syllabus.

The syllabus is read in sequence. Foundations are not optional; advanced study presumes them.

Foundations

  1. 01

    Article 1 definitions and the structure of the Code

  2. 02

    Good faith, course of dealing, and usage of trade

  3. 03

    Statute of Frauds under Article 2

Intermediate Study

  1. 01

    Formation, modification, and the battle of the forms

  2. 02

    Warranties: express, implied, and the means of disclaimer

  3. 03

    Risk of loss and the merchant rules

Advanced Study

  1. 01

    Attachment and perfection of a security interest

  2. 02

    Priority contests among secured parties and lien creditors

  3. 03

    Default, enforcement, and the disposition of collateral

Research & Method

  1. 01

    Comparing state non-uniform amendments to UCC Article 9

  2. 02

    Reading a UCC-1 financing statement against the underlying agreement

  3. 03

    Locating Permanent Editorial Board commentary on a disputed term

Reference Materials

  1. 01

    Uniform Commercial Code, official text and comments

  2. 02

    Permanent Editorial Board commentaries

Suggested Reading

  1. 01

    White, Summers & Hillman, Uniform Commercial Code

  2. 02

    Convention on Contracts for the International Sale of Goods (CISG)

§ V

Learning Outcomes

The capacities a member should leave with.

Outcomes are stated as capacities, not credentials. They describe what a member should be able to do after sustained reading.

  1. 01

    Read a UCC article in the order it was drafted and locate the controlling definition

  2. 02

    Trace a security interest from attachment through priority to enforcement

  3. 03

    Identify when a state's non-uniform amendment alters a default rule

§ VI

Primary Authorities

The texts the School takes seriously.

Authorities are listed by category. Entries marked in preparation are catalogued and reviewed before they enter the working record.

Statutes

2 entries

  • Authority

    Uniform Commercial Code, official text

  • Authority

    State enactments and non-uniform amendments

Administrative Guidance

1 entry

  • Authority

    Permanent Editorial Board for the Uniform Commercial Code, commentaries

Historical Sources

1 entry

  • Authority

    Convention on Contracts for the International Sale of Goods (1980)

Treatises & Restatements

1 entry

  • Authority

    White, Summers & Hillman, Uniform Commercial Code

§ VIII

Research in the Library

Where this School reads.

The divisions below carry the primary materials this School draws on. The catalogue opens in stages as the index is reviewed.

  • Library Division

    Statutes

    Codified federal and state statutory law, organized by title and chapter.

  • Library Division

    Administrative Guidance

    Agency interpretive material — revenue rulings, advisory opinions, and policy statements.

  • Library Division

    Treatises

    Restatements, hornbooks, and reference works of accepted authority.

Catalogue · XI Divisions

Enter the Research Library →

Admission

Join the founding cohort of the Commercial Law department.

All Founding Members are admitted into every School. Tuition and dues are not yet open.

The Real Law Society · Est. MMXXVRead Law. Not Lore.Vol. I — Folio I