Miller Business Law Today and Creditor Relationships Week 4: Debtor/Creditor Relationships
In the melodramas of the 1800s, one familiar character was the evil landlord that entered the stage to the boos and hisses of the audience, where he inevitably showed no mercy towards the lovely heroine and her family. The debtor-creditor relationship has advanced significantly since those days. Contracts and collateral, as well as a wide area of negotiable instruments, provide both options and protection to the parties in a transaction.
What is the difference between an unsecured loan and a secured loan? What is a bill of lading and why is it needed? This week you will be introduced to these different types of agreements that may be formulated between a creditor and a debtor, as well as the various tools or negotiable instruments that may be used in the transactions.
Miller Business Law Today and Creditor Relationships Learning Objectives
Students will:
Identify the different types of negotiable instruments, their purposes and the parties to each type
Differentiate between the parties and terminology in connection with both unsecured and secured credit transactions
Demonstrate the requirements for creating a valid security interest by attachment
Evaluate the methods that can be used to establish the priority of a security interest through perfection
Explain the general and special priority rules for security interests and the rights of creditors upon a debtor’s default
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Miller Business Law Today and Creditor Relationships Learning Resources
This page contains the Learning Resources for this week. Be sure to scroll down the page to see all of this week’s assigned Learning Resources. To access select media resources, please use the media players below and/or the course DVD (as applicable).
Miller Business Law Today and Creditor Relationships Required Readings
Miller, R. (2014). Business law today: The essentials (10th ed.). Mason, OH: Cengage Learning.
Chapter 13, “Negotiable Instruments”
Chapter 15, “Creditors‘ Rights and Bankruptcy (only pp. 436- 446)
Chapter 13 details the concept of negotiable instruments, including the different types of negotiable instruments, how they may be transferred, and the different types of liability that can be associated with these instruments. The first section of Chapter 15 focuses on the topic of creditors’ rights. You will be introduced to the concept of security and explore laws protecting both creditors and debtors.
