Discuss the priorities among the various parties who may have competing interests in collateral and the rights and remedies of the parties to a security agreement after default by the debtor.

Secured Transactions and Suretyship

Name and define the various types of collateral.

• Explain the purposes, methods, and requirements of attachment and perfection.

• Discuss the priorities among the various parties who may have competing interests in collateral and the rights and remedies of the parties to a security agreement after default by the debtor.

• Explain the requirements for the formation of a suretyship relationship.

• Explain the rights of a creditor against a surety and the rights of a surety, including those of a cosurety.