Georgia Secured Transactions Practice Test

The primary law governing secured transactions in Georgia is indeed the Uniform Commercial Code (UCC), specifically Article 9. Article 9 of the UCC is designed to regulate secured transactions involving personal property, which includes the creation and enforcement of security interests in various types of collateral.

This article lays out the requirements for perfection of a security interest, the priorities of competing claims, and the rights and obligations of both debtors and creditors in the secured transactions context. Since the UCC is adopted in a uniform manner across many states, it provides a standardized framework that facilitates commerce and protects the interests of parties involved in secured transactions.

While Georgia may have its own specific regulations and case law that may complement or modify the UCC's provisions, the foundation of secured transactions law is established by Article 9 of the UCC. Other choices mentioned, such as the Georgia Secured Transactions Act, and the Federal Bankruptcy Code, do not serve as the primary body governing these types of transactions. The Uniform Consumer Credit Code is focused on consumer credit transactions and does not govern secured transactions in general.