Debtor/Creditor & Bankruptcy Law
SLN #: 72551
Course Prefix: LAW-653
Course Section: 001
Credit Hours: 3
This course will cover basic debtor-creditor law and bankruptcy law and practice. It begins with the state and common law governing how money judgments are enforced, debtors' strategies to avoid collection, and who gets paid when there is not enough money to go around. This also includes federal statutory limitations on collection remedies. It then addresses liquidation under Chapter 7 of the Bankruptcy Code, the effect of the discharge of debts in bankruptcy, the exceptions to discharge, and the new “means test” limitations on eligibility to file for a Chapter 7 discharge. This leads to the Chapter 13 "wage earner" plan for repayment of creditors over time. The latter half of the course will focus more on aspects of commercial bankruptcy law, including the automatic stay, preferences and fraudulent conveyances, and the trustee's "strong arm" powers. It is these laws that prescribe the outer limits of creditors' rights and make the bankruptcy courts the de facto commercial courts for the nation. There are no prerequisites to this course, although a background in secured transactions would be very helpful. Nor is this course a prerequisite to the Chapter 11 course that is taught every other spring semester, but it would provide extremely useful background if you intend to take that course, and the two courses will be taught as a logical sequence with minimal overlap. Attendance is expected and up to two points will be added or subtracted for participation.
Credit Hours: 3
Grading Option: Letter Grade Only
Graduation Writing Requirement: No
Flexible Writing Requirement: No
Skills Requirement: No
Final Exam Given: Yes
Final Exam Type: In-Class
Attendance Policy: Per Statement of Student Policies
Additional Attendance Policy: Yes, per College of Law attendance policy.