This book teaches students about secured transactions and the law that governs them, while simultaneously training students in the use and interpretation of statutes. Because of the focus on statutory interpretation, the book contains few judicial opinions. Instead, it contains 186 carefully sequenced problems for students to solve and which serve as the foundation for classroom discussion. The problems are preceded by textual discussion designed to help students understand the relevant statutory provisions and the transactions to which those provisions apply. Most of the problems require students to apply the law to specified facts but a few of the problems do the reverse: they challenge the students to describe a set of facts to which a statutory provision applies. Some other problems ask students to identify the reason underlying a rule and some ask students to draft language for an agreement or other plan a specified transaction. The book includes material addressing the 2022 UCC Amendments. Accompanying the book are: (i) a website with links to electronic exercises; and (ii) multiple-choice quizzes, available through CasebookPlus. Both the electronic exercises and the quizzes allow students to self-assess their understanding of the course material. The website also contains for teachers both a detailed teacher’s manual that provides an extensive analysis of each problem, PowerPoint slides that diagram most of the problems, and resources for using the book in distance-learning courses. The authors post supplements to the book and the teacher’s manual on the website at regular intervals.