Securities control may be use to perfect a security

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Unformatted text preview: ledge); may be used for goods, instruments, money, negotiable documents, tangible chattel paper, or certificated securities. securities. Control – may be use to perfect a security interest in electronic chattel paper, investment property, non-consumer deposit accounts, and letter-of-credit rights. accounts, Methods of Perfecting Security Interests Interests Applicable Method of Perfection Collateral Goods Consumer Equipment Farm products Inventory Fixtures Indispensable paper Chattel paper Instrument Document Intangibles Account General intangibles M M Isolated Assignment M M M M M 21 days 21 days M M M M M M M M M M PMSI Filing Possession Automatic Temporary Requirements for Enforceability of Security Interests Security I. Attachment II Perfection A. Agreement 1. in writing (unless SP has possession), 2. providing a security interest, 3. in described collateral, 4. signed by debtor, B. Value given by secured party, and C. Debtor has rights in collateral. A. Files a financing statement, or B. SP takes possession, or C. Automatically, or D. Temporarily. Priorities among Secured Parties Priorities s s s Repossession– the secured party...
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This note was uploaded on 10/25/2009 for the course LAW 100 taught by Professor Liu during the Spring '09 term at Zhejiang University.

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