Book Description

For the first time, readers will find here in one place a clear and up-to-date discussion of the four primary "security devices" in Louisiana law: the Louisiana version of Article 9 of the Uniform Commercial Code, mortgages, statutory liens ("privileges"), and personal guarantees ("suretyship"). The discussion is written to be easily accessible to non-experts. It offers both a basic introduction and a detailed but concise explanation of the operation of each of the available security devices, including the complex rules for determining priority among the various devices when they compete with each other, with a trustee in bankruptcy, or with the Internal Revenue Service. This book is designed to allow students and lawyers to solve difficult problems with minimal effort, guided by a logically structured and detailed table of contents, as well as simple illustrations of particularly complex topics. By bringing all of this material together in a clear and focused framework, this book is intended to reduce study and research time for complex secured transactions questions and to increase students' and lawyers' confidence in the resolution of often complex and confusing commercial law problems in the unique environment of Louisiana law. This second edition has been updated to reflect recent changes in the law, especially the complete overhaul of the rules governing agricultural collateral, the filing rules for Orleans Parish, and the expanded application of the certificate of title perfection rules to certain boats and motors.