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module 1 overview of secured transactions overview the Uniform Commercial Code provides the legal framework that governs commercial business transactions the UCCS 11 article set out laws on the sales of goods leases negotiable instruments bank deposits funds transfers letter of credit bulk transfers bulk sales warehouse receipts bills of lading investment securities and secured transactions in this course will cover secured transactions in the opening module will define secured transactions discuss the parties to a secured transaction cover what it means to attach a security interest and explain how to attach a security interest a security interest is an interest in certain assets which secures payment or performance of an obligation in a secured transaction the borrower grants a security interest over its assets in favor of the lender to secure repayment of a loan or debt and possibly other performance obligations to the lender there are two types of security interests possessory and
