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Secured Transactions - NYBE
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What does Article 9 apply to?
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Consensual security interests in personalty or fixtures. Note: when the collateral is real estate, apply the law of mortgages. When the collateral is personalty or fixtures, apply Article 9 of the UCC
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Terms in this set (57)
What does Article 9 apply to?
Consensual security interests in personalty or fixtures. Note: when the collateral is real estate, apply the law of mortgages. When the collateral is personalty or fixtures, apply Article 9 of the UCC
What is personalty?
Goods. Thus, Article 9 does not apply to statutory or mechanic liens
Who is the debtor?
The entity who owes the money
Who is the secured party or secured creditor?
The entity who lends the money
What is the security agreement?
The contract or record
