What does Article 9 of the UCC govern?

Article 9 of the UCC specifically governs secured transactions, which involve the use of personal property as collateral to secure a debt or obligation. This section of the Uniform Commercial Code outlines the legal framework for creating, perfecting, and enforcing security interests in various types of personal property, including goods, accounts, and other intangible assets.

Understanding secured transactions is crucial for the proper functioning of credit markets, as it provides lenders with a means to secure their loans. Article 9 establishes the requirements for attachment and perfection of security interests, which are essential for determining the priority of claims against collateral in the event of a debtor's default or bankruptcy.

In contrast, the other options presented do not fall under the purview of Article 9. Real estate transactions are governed by different legal principles and statutes, often found in property law rather than the UCC. Consumer protection laws address various issues related to fair trade practices and consumer rights, but they do not pertain to secured transactions. Employment agreements typically follow labor and contract law, and these agreements are also not related to the subject matter covered under Article 9. Thus, Article 9's focus on secured transactions makes it the correct answer in this context.