This course will cover basic bankruptcy law and practice, with some information concerning the rights of debtors and creditors under nonbankruptcy law. It begins with the state and common law governing debt collection by creditors, debtors' strategies to avoid collection, who gets paid when there is not enough money to go around, and why many debtors and creditors prefer the rights and remedies under bankruptcy law. The course then considers basic bankruptcy law concepts, such as property to be administered in a bankruptcy, a creditor’s ability be paid, prohibition of creditors’ actions while a debtor is in bankruptcy, and the ability of the debtor to have a “fresh start.” The course also considers basic issues that debtors or creditors may face under Chapter 7 (liquidation), Chapter 11 (repayment by individuals or businesses of debts over time pursuant to a plan), or Chapter 13 (the ability of individuals who receive regular wages to repay their creditors over time pursuant to plan). The end of the course will focus on the outer limits of creditors' rights and what makes 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.

Additional Information:
Credit Hours: 3
Grading Option: Letter Grade Only
Flexible/Upper-Level Writing Requirement: No
Skills Requirement: No
Simulation Course: No
Experiential Learning: No
Seminar: No
Special Withdrawal Course: No
Final Exam Given: Yes
Final Exam Type: Take-Home
Attendance Policy: Per Statement Of Student Policies
Teaching Method: ASU Sync

* The law school has a policy that is used to calculate credit hours. Please see the Statement of Student Policies.