Laws for Accountants Article 9 of the UCC describes different types of property that may be...

Laws for Accountants

Article 9 of the UCC describes different types of property that may be used for collateral. What are the various categories of property under Art. 9-excluding securities since different rules apply to how security interests are created, attach and are perfected in securities. What are these other types of property and why is that important? Note-remember that the UCC does NOT cover real estate

What are the steps to perfect a security interest under Art. 9 of the UCC? For each classification of property, what is necessary to perfect the Art. 9 security interest in this property? Specifically what is a purchase money security interest in consumer goods and why does that matter?

Expert Solution

ekkarill92 answered 2 years ago

PROPERTY TYPES UNDER ARTICLE 9 Article 9 of the UCC describes different types of property that...

PROPERTY TYPES UNDER ARTICLE 9 Article 9 of the UCC describes different types of property that may be used for collateral. What are the various categories of property under Art. 9-excluding securities since different rules apply to how security interests are created, attach and are perfected in securities. What are these other types of property and why is that important? Note-remember that the UCC does NOT cover real estate.

Article 9 of the UCC describes different types of property that may be used for collateral. What are the various categories of property under Art.

Laws for AccountantsArticle 9 of the UCC describes different types of property that may be used for collateral. What are the various categories of property under Art. 9-excluding securities since different rules apply to how security interests are created, attach and are perfected in securities. What are these other types of property and why is that important? Note-remember that the UCC does NOT cover real estateWhat are the steps to perfect a security interest under Art. 9 of the UCC? For...

Law of Accountants: -What is a security interest -What does Art 9 of the UCC cover-and...

Law of Accountants: -What is a security interest -What does Art 9 of the UCC cover-and hat is not covered -What does the word attachment mean under Art. 9 -What is required for a security interest to be perfected-how does perfection happen -Why do we care about all of this -Have you ever thought about how many credit transactions happen every day for purchases of things, not real estate? How much money do you think is involved?

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