This chapter outlines the general rules governing security interests, including their effects, scope, establishment, and extinguishment. It highlights the pivotal role of security interests in a market economy, emphasizing their three key functions: ensuring obligation fulfillment and credit security, facilitating corporate financing and economic growth, and stimulating consumption by enabling access to high-value goods. The text further distinguishes between statutory security interests (arising by law, such as liens) and agreed security interests (created by contract, such as mortgages and pledges), noting the differing roles for party autonomy in their establishment.