The adoption of the Uniform Commercial Code provides an excellent opportunity to reexamine the function and use of secured transactions. This paper is concerned, basically, only with financing inventory and the proceeds which arise on the sale of inventory. Some of the rules discussed are applicable only in this context, and some of the problems could not arise in any other field of secured transactions.

I. Introduction

II. Scope of Article 9

III. The Security Interest … A. Attachment and Perfection … B. Purchase Money Financing … C. Priority … D. The Security Agreement

IV. Financing Inventory

V. Financing Proceeds of Inventory