1 / 13

CHAPTER 38: SECURED TRANSACTIONS

CHAPTER 38: SECURED TRANSACTIONS. CHAPTER 38: SECURED TRANSACTIONS. Learning Objectives: Scope of Article 9 Creation and Perfection of a Security Interest Floating Liens Rights of Secured Parties vs. Buyers of Collateral and Other Secured Parties Rights and Duties Upon Debtor Default.

aaron
Télécharger la présentation

CHAPTER 38: SECURED TRANSACTIONS

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. CHAPTER 38: SECURED TRANSACTIONS

  2. CHAPTER 38: SECURED TRANSACTIONS Learning Objectives: Scope of Article 9 Creation and Perfection of a Security Interest Floating Liens Rights of Secured Parties vs. Buyers of Collateral and Other Secured Parties Rights and Duties Upon Debtor Default Chapter 38

  3. INTRODUCTION TO SECURED TRANSACTIONS • Nature of a Secured Transaction: debtor grants a security interest in personal property to a creditor, which the creditor can use to obtain satisfaction if debtor defaults. • Nature of Unsecured Creditors • Nature of Secured Debt Chapter 38

  4. SCOPE OF ARTICLE 9 • Coverage of Article 9 • Exclusions from Article 9 • Classifications of Collateral: • Tangible Goods • Documentary Collateral • Intangible Property Chapter 38

  5. SCOPE OF ARTICLE 9 • Tangible Goods: • Consumer goods • Equipment • Farm products • Inventory • Documentary Collateral: • Chattel paper • Documents of title • Instruments Chapter 38

  6. SCOPE OF ARTICLE 9 • Intangible Collateral • Accounts • General intangibles Chapter 38

  7. CREATION OF A SECURITY INTEREST • Introduction • Security Agreement • Debtor’s Rights in the Collateral • Creditor Gives Value Chapter 38

  8. PERFECTION OF A SECURITY INTEREST • Essence of a Security Interest • Methods of Perfection: • Filing of a Financing Statement • Possession • Attachment • PMSI in Consumer Goods • Temporary Perfection Chapter 38

  9. FLOATING LIENS • Definition: security agreement describes the collateral as including property to be acquired by the debtor in the future. • After-acquired property • Future advances • Proceeds Chapter 38

  10. PRIORITY ISSUES • Generally • Secured Party vs. Buyers of Collateral • Buyers in the Ordinary Course of Business • Buyers of Consumer Goods Chapter 38

  11. PRIORITY ISSUES • Secured Party vs. Secured Party • General Rule: First-in-Time • PMSI in Inventory Collateral • PMSI in Non-inventory Collateral • Secured Party vs. Lien Creditors Chapter 38

  12. DEBTOR’S DEFAULTRIGHTS AND DUTIES • Introduction • Rights and Duties of Secured Party in Possession • Foreclosure Sale • Rights of Parties at Foreclosure • Strict Foreclosure • Debtor’s General Remedies Chapter 38

  13. CHAPTER 38: SECURED TRANSACTIONS

More Related