BLU6C - Case Study: Secured Transactions The Professional Athlete Home Purchase

This case study examines the secured transaction process in the context of a real estate purchase by a professional athlete, Jordan Miles. It provides an in-depth look at the legal requirements for secured transactions, including security agreements, perfection, and priority rules for secured creditors. The case study also explores the role of the Uniform Commercial Code (UCC) in secured transactions and the rights of both debtors and creditors. By following Jordan’s home-buying journey, students gain insight into real-world applications of secured transactions, including mortgage lending, foreclosure rights, and creditor protections.

The case study aligns with the National Business Education Association (NBEA) Business Law Standards, particularly in the following areas:

1. Legal Environment (BL.IV) - Understanding legal agreements, creditor rights, and debtor obligations in secured transactions.
2. Contracts (BL.V) - Exploring elements of enforceable contracts, including security agreements and financing terms.
3. Credit and Banking (BL.VI) - Examining the role of banks and lending institutions in real estate financing and secured transactions.
4. Property Law (BL.VII) - Addressing property rights, mortgages, and real estate transaction regulations.
5. Consumer Protection (BL.VIII) - Evaluating debtor protections and legal safeguards in mortgage lending and foreclosure.

This case study provides students with practical knowledge of secured transactions, equipping them with essential legal and financial literacy skills applicable to both personal finance and business law careers.