So while I was buried in this last year, I managed to take a few U.C.C. classes. Now, you might not recall that I actually became rather enamored of the UCC in my first year. My Contracts prof had a sort of orgasmic relationship with the UCC and brought Article 2 into the class anywhere it was remotely appropriate. I liked it. It was pretty, generally really clear and it all tied together so very nicely.
Since then, I've taken a Secured Transactions class (Article 9) and am currently taking a Payment Systems class (Art 3, 4, 4A, 5 & 7). And the more I read the more, I just simply *heart* the UCC. Obviously, not all of the articles are written with what can only be described as insight into legal code nirvana (I'm talking about you article 4!--what were they thinking?). But when you run across a true winner like Article 9, sigh, my heart begins to pitter patter a little faster.
But the coolest thing about it, is that the whole thing is such a lovely package. I love, love, love sitting in my Payments class and having the prof rattle something off about some default rules on letters of credit (article 5) and how the code assumes they were smart enough to protect themselves with an article 9 transaction. And I really love how I really understand how it all works together. Now, I don't have the orgasmic relationship with the UCC that my K prof did, but damn, it's pretty satisfying.
All silliness aside, it's a damn cool area of the law to be involved in from a private sector point of view. My firm has a developing practice in it that is always hopping--partly because those attorneys are allowed to breach the litigation/transactional barrier and follow deal from inception to bankruptcy or work-out if needs be. So everything is different everyday, but it's a lot of the same players, which is nice for building good relationships.
And my back-up plan these days is to do private securities if the UCC thing doesn't come to fruition (how many of you know there is an article (hardly at all adopted :( ) in the UCC covering investment securities? In any case, it was another of the classes that I fell in love with, and is practiced widely in my firm. Yea! I love options.