This secured transactions audio lecture covers collateral, security interests between debtor and creditor, such as creation and attachment, between creditor and others, including perfection filing, possession, control, automatic, and temporary, and priorites of secured parties v. lien creditors. It also defines a perfected secured party, purchaser BIOCs, holder in due course rule, and secured party v. secured party purchase money security interests, fixtures, and accessions. Other subjects include rights upon default, including collection and enforcement by secured parties, possession and disposition by secured parties, noncompliance, acceptance of collateral in full or partial satisfaction, and application of proceeds of sale. The hand out is on Disc Four of the set as an Adobe file.