The purpose of this Nutshell is to discuss the law embodied in the 55 sections of Article 9 of the Uniform Commercial Code on Secured Transactions, as set forth in the revised versions of 1972 and 1977, and the 53 sections of that Article as set forth in what is generally called the 1962 version, or the version generally enacted in the states prior to the recent revision. Of necessity, the discussion covers both the new, or 1972 version, of Article 9 and the older, or 1962 version, since a few states as of the end of 1987, still have the older version. The 1977 version deals with security interests in investment securities in Article 8 of the Code.
The discussion is comprehensive in scope, but necessarily limited in coverage of particular features of the law of secured transactions as embodied in Article 9. Relatively few cases have been cited in this Nutshell, and such citations as are given are used in connection with examples to illustrate the application of particular Article 9 principles.
