Mizzou MANGMT 3540 - Chapter 16: Secured Transactions (8 pages)

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Chapter 16: Secured Transactions



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Chapter 16: Secured Transactions

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ch.16


Lecture number:
20
Pages:
8
Type:
Lecture Note
School:
University of Missouri
Course:
Mangmt 3540 - Introduction to Business Law
Edition:
1

Unformatted text preview:

MANGMT 3540 1st Edition Lecture 20 Outline of Last Lecture I Rules of Indorsements II Holder in Due Course III Defenses Against a holder in due course Outline of Current Lecture IV General Terms Relevant to Article Nine of the UCC V Types of Collateral Governed Under Article 9 of UCC VI Creating a Security Interest by Attachment VII Perfecting a Security Interest VIII Financing Statements Public Notice of Security Interest IX Floating Liens A security Agreement in X Priorities to Collateral XI Rights and Duties of Parties upon Default XII Effect of Disposition of Collateral at a Repossession Sale XIII Termination Statement Current Lecture I General Terms Relevant to Article Nine of the UCC A Security Interest These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute 1 Interest in personal property or fixture which secures payment or performance of an obligation formerly called chattel mortgages B Fixtures 1 Personal property permanently attached to real estate C Collateral 1 Property subject to a security interest D Debtor 1 Party owing money or an obligation secured by the security interest E Secured party 1 Person who holds owns security interest F Financing statement 1 Notice of security interest filed with a government office G Lien 1 Right to sell property on default 2 Examples mortgage some judgments and security interests II Types of Collateral Governed Under Article 9 of UCC A Goods 1 Things tangible and movable or fixture Article 9 adds fixtures to Article 2 definition E g a book B Quasi Tangibles 1 Paper instruments which in themselves evidence a right e g negotiable instruments ex A check C Intangibles 1 Property with no aspect of physical existence 1 Accounts receivable 2 Goodwill of business D Art 9 When Inapplicable 1 Article 9 regulating security interests does NOT apply to real estate OR to the process of obtaining perfection of security interests in motor



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