BLAW 4203 Chapter Notes - Chapter 29: Secured Creditor, Security Interest, Intangible Property
Document Summary
Chap 30 secured transactions to protect seller or lender. Ucc-9 govens secured transactions in personal property. tangible and intangible!!! , agricultureal liens, chattel paper(any documents or records evidencing a debt secured by personal property: commercial assignments or more , fixtures(certain property attached to land) Instruments intangible property, such as patents: not cover: creditor tools such as liens or mortgages on real property. Secured party creditor: debtor, security interest: interest in the collateral, security agreement, collateral, financing statement filed to give public notice of the secured pa(cid:396)t(cid:455)(cid:859)s se(cid:272)(cid:396)itit(cid:455) i(cid:374)te(cid:396)est. Creditor has two concerns: can the debt be satisfied through possession and by sale of collateral, will creditor have priority over other creditor/buyer over the same collateral. The above two conerns are met through creation and perfection of security of interest. Creation: basic requirement to become a secured party creditor must obtain a security interest in the collateral.
