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Chapter 21 Secured Transactions and Suretyship

Learning Objectives

After reading this chapter, you should understand the following:

  1. The basic concepts of secured transactions
  2. The property subject to the security interest
  3. Creation and perfection of the security interest
  4. Priorities for claims on the security interest
  5. Rights of creditors on default
  6. The basic concepts of suretyship
  7. The relationship between surety and principal
  8. Rights among cosureties