Creation Of An Enforceable Security Interest: Attachment
Order by
6 terms
Terms | Definitions |
|---|---|
 Attachment Means That The Security Interest Is? | Enforceable |
| 3 Requirements For Attachment | 1. Value- banks lends 50k out to debtor 2. Contract- called security the security agreement 3. RIGHTS... in the collateral: Debtor must have rights in the collateral |
| The Record Must Be | 1. Be AUTHENTICATED by Debtor i.e., signed or electronically marked 2. Reasonably identify the collateral |
| If The Secured Party Is In Possession Of The Collateral, There Is No Need For? | RECORD |
| By Contrast, If The Debtor Is In Possession Of The Collateral? | Security Agreement |
| After-Acquired Collateral Clauses | Ex Secured Party Lends $500k to Staples Stores, taking a security interest "in all of Staples inventory, whether now held or hereafter acquired." THis sort of clause is called: THE FLOATING LEIN It is: ENFORCEABLE |
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