CLL805 LAW OF SECURED CREDIT TRANSACTIONS I.pdf

1. Understand the sources of laws that regulate secured credit transactions in Nigeria.
2. Define and explain the nature of secured credit transactions.
3. Distinguish between possessory and non-possessory security interests.
4. Differentiate between proprietary right and security interest.
5. Explain the difference between attachment of security interest and perfection.
6. Understand the meaning and implications of priority of interests.
7. Explain the meaning, creation, and enforcement of mortgage.

13 weeks, about 34 hours in total. Yours will differ.

1. Week 1Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 1: Companies and Allied Matters Act, CAP C20 LFN 2004 · 2 hours

     Read the introduction to CAMA 2020 and understand its role in regulating corporate activities.. Identify the principal requirements for company formation and registration.. Analyze the inherent statutory power of companies to borrow money and charge assets..

2. Week 2Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 2: Land Use Act, CAP L5 LFN 2004 · 2 hours

     Study the vesting provision (Section 1) and consent provision (Section 22) of the Land Use Act.. Analyze the impact of the LUA on land transactions and secured credit.. Understand the role of the Governor as the head trustee of lands..

3. Week 3Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 3: Banks and Other Financial Institutions Act CAP B2 LFN 2011 · 2 hours

     Examine the role of BOFIA in regulating banking business and credit extension.. Understand the requirements for granting loans and obtaining security.. Analyze the provisions protecting bankers' rights in motor vehicle financing..

4. Week 4Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 4: Bills of Sale Law Lagos State · 2 hours

     Explore the application of the Bills of Sale Law in regulating security in movable assets.. Differentiate between absolute and conditional bills of sale.. Understand the limitations of the Bills of Sale Law compared to STMA and CAMA..

5. Week 5Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 5: Secured Transactions in Movable Assets Act 2017 · 2 hours

     Identify the STMA 2017 as the primary law regulating security interest in personal property.. Understand the objectives of the STMA, including facilitating access to credit and perfection of security interests.. Analyze the limitations of the STMA and its application to financial institutions..

6. Week 6Module 1: Major Laws Regulating Secured Credit Transactions

   • Unit 6: Agricultural Credit Guarantee Scheme Fund Act CAP A11 LFN 2004 · 2 hours

     Discuss the Agricultural Credit Guarantee Scheme Fund Act and its role in encouraging credit flow to agribusiness.. Understand how the fund provides guarantees for loans granted for agricultural purposes.. Analyze the limitations of the law in providing complete support to Nigerian farmers..

7. Week 7Module 2: The Concept of Secured Credit Transactions

   • Unit 1: Types of Creditors · 2 hours

     Explain the various ways by which the relationship of creditor and debtor is created.. Explain the difference between, secured creditor and unsecured creditor.. Differentiate between adaptive, semi-adaptive, and involuntary creditors..

8. Week 8Module 2: The Concept of Secured Credit Transactions

   • Unit 2: Debt Financing Options · 2 hours

     Identify the different options by which companies finance their operations.. Differentiate between loan capital and debt security.. Study the different types of loan capital, including term loans, revolving loans, and overdraft loans..

9. Week 9Module 2: The Concept of Secured Credit Transactions

   • Unit 3: The Concept of Security · 2 hours

     Define security and security interest.. Differentiate and explain the two main categories of security: direct/collateral security.. Explain the reasons why creditors insist on taking security..

10. Week 10Module 2: The Concept of Secured Credit Transactions

    • Unit 4: Types of Assets Amenable to Security Interest · 2 hours

      Identify and discuss the various types of assets which can be put forward by the debtor as security for repayment of a debt.. Study the classifications of assets: real and personal property, tangible and intangible assets, fixed and circulating assets, and present and future assets..

11. Week 11Module 3: The Nature of Security Interest

    • Unit 1: How to Identify Security Interest · 2 hours

      Discuss the overall nature of security and security interest.. Distinguish proprietary right from security interest.. List the indicia of security interest as distinct from the characteristics of security..

    • Unit 2: Numerus Clausus and Process of Security Interest · 2 hours

      Describe the types of security interests capable of being created under our law.. Appraise the importance of attachment of security interest as a basis for any claim by the secured creditor.. Explain the idea of perfection of security and priorities..

12. Week 12Module 3: The Nature of Security Interest

    • UNIT 3 PRIORITY OF SECURITY INTERESTS · 4 hours

      Understand the meaning of priority in the context security interests.. Explain the different bases of priority rule.. Apply the priority rule in practice..

13. Week 13Final Revision

    • Final Revision · 6 hours

      Review all modules and units.. Work on assignments and prepare for final examination..