Management and Organizational Studies 2275A/B Lecture Notes - Uniform Commercial Code, Security Interest, London Agreement On German External Debts

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Cristin Keller

Document Summary

Methods of securing debt: real property. Choses in actions intangible rights accounts receivable. Security agreement: debtor typically retains title and possession of the secured property, lender has the ability to realize upon its security upon the default of the debtor, and after notice. The traditional approach: conditional sales agreement. Seller retains title until last payment is made. In case of default seize or sue: chattel mortgage. Title to goods is transferred to lender: assignment of book debts. Specific: lease of goods (equipment lease) Personal property security act (ppsa: similar statute enacted in all jurisdictions. Permits creation of personal property security interests. Gives effect to contractual obligations of the parties: method of creating secured relationship: Secured party and debtor enter into a security agreement (has to be a contract) Security interest attaches to collateral (usually happens when contract is executed) - the minute attachment happens, you"re not allowed to sell the asset attached freely.