BUS 018 Lecture Notes - Lecture 19: Secured Creditor, Security Interest, Current Liability

• School: College of The Sequoias
• Department: Business (BUS)
• Course: BUS 018
• Professor: Baiza

Document Summary

When you buy goods in the ordinary course of business, you take the free and clear. When you buy a car from the car dealership, you take it free and clear. Search the ppsa what does this mean he said an example with going to las vegas and a girl not searching the ppsa. What if a guy sells the car at 3 am in the morning, this does not work because this is not the ordinary course of business. One of the security devices is the general security agreement. It"s a security interest in all of the debtor"s property. Key thing is all the property today and all the property you get in the future. Bank loans her 1,000,000 and takes her property and after acquired property. I now have a security interest in everything she has 1 week later she buys a truck for 50,000 this is a part of my security interest.