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Written by the Reporters who drafted UCC Article 9 and its Official Comments, this casebook focuses on real-life problems and transactions. The Problems focus the students’ attention on the relevant statutory language and its application to common patterns of secured financing. They emphasize counseling, planning, drafting, and litigation skills. Many of the Problems are based upon two Prototype transactions that feature actual transaction documents. One Prototype provides the foundation for a discussion of basic Article 9 concepts. The other forms the basis for financing secured by receivables and other intangible property and inventory. The extensive Notes help students understand what Article 9’s provisions are designed to accomplish and how they fit together, while encouraging students to evaluate the choices made by the drafters. The Sixth Edition fully integrates the 2010 amendments and reflects recent developments in the case law, including the Motors Liquidation and Duckworth opinions dealing with the sometimes drastic consequences of mistakes made by secured parties.