Our specialty is a "Chattel Mortgage" JCF Lending Group is an A paper loan provider and we require good to excellent credit. Currently. Chicago-Kent Law Review Volume 74 Issue 3Symposium on Revised UCC Article 9 Article 8 June 1999 Electronic Chattel Paper under Revised Article 9: Updating the. Personal property is generally considered property that is movable, as opposed to real property or real estate. In common law systems, personal property may also be. TITLE 6 Commerce and Trade SUBTITLE I Uniform Commercial Code ARTICLE 9. SECURED TRANSACTIONS Part 3. Chattel paper purchaser's priority in proceeds. No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers. 62A.9A-319. This chapter of Secured Transactions Under the UCC provides an overview of electronic chattel paper, which Revised Article 9 recognizes as a new form of collateral. Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights.
Definition of CHATTEL: An article of personal property; any species of property not amounting to a freehold or fee in land. People v. Holbrook, 13 Johns. (N. Chattel definition, Law. a movable article of personal property. See more. A chattel mortgage is a loan that is secured by chattel rather than by real property. In a traditional mortgage, the loan is secured by the property itself. Topics. In this Expert Commentary, Professor Margit Livingston explains what chattel paper is and the special priority rules that apply to it under the Uniform Commercial Code. Chattel slavery. Chattel slavery, also called traditional slavery, is so named because people are treated as the chattel (personal property) of the owner and are. THE TRANSACTIONAL LAWYER Vol. 3 (Apr. 2013) 2 Restatement (Second) of Contract § 328 cmt. b & ills. 2 & 3. Even more to the point is U.C.C. Lease Financing: Some Possibly Surprising Implications. • If an equipment lease is “chattel paper” under Article 9, does it matter if the. Chattel Paper. Each Receivable constitutes "tangible chattel paper" as defined in the UCC. The Receivables do not have any marks or notations indicating that they.
In a simple example of a setting in which a chattel paper might be used, an equipment rental company could rent equipment to a business, and retain a. Define chattel. chattel synonyms, chattel pronunciation, chattel translation Related to chattel: chattel mortgage, Chattel Paper. chat el. Chattel Paper A writing or writings that evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances. 2001. 400.9-105. A secured party has control of electronic chattel paper if the record or records comprising the chattel paper are created, stored, and. Equality, Property and Marriage. Most American treated married women according to the concept of coverture, a concept inherited from English common law. 721 Framework for Control over Electronic Chattel Paper—Compliance with UCC § 9-105 By the Working Group on Transferability of Electronic Financial Assets, a Joint. The Major Rights to Payment: Chattel Paper: a (1) security interest in property OR a lease of property; AND (2) a monetary obligation. [9-102(a)(11); Comment 5b]. The.
Chattel paper means a record that evidences both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software. (a) [General rule: control of electronic chattel paper.] A secured party has control of electronic chattel paper if a system employed for evidencing the transfer of. A chattel paper is a document containing information about a financial obligation pertaining to a security interest held by a creditor. A chattel paper is a document which contains information about a monetary obligation paired with the specifics of a security interest held by the creditor. 407 Electronic Chattel Paper: Invitation Accepted Jane K. Winn* Abstract: In 1999, Revised U.C.C. Article 9 governing secured lending was updated to permit the.
Electronic chattel paper is an asset type over which an entity can grant a security interest ( www.practicallaw.com/7-382-3812) under. Show resource details Hide resource details. Resource ID: 0-382-3330; Products: Agriculture, PLC US Antitrust, PLC US Bankruptcy, PLC US Capital. 1) Security interests in personal property; 2) Sales of: a) accounts, b) chattel paper, c) payment intangibles, and d) promissory notes; 3) Consignments. Chattel. An item of Personal Property that is movable; it may be animate or inanimate. Chattels are synonymous with goods or personalty. chattel. n. an item of. English: Spanish: chattel n noun: Refers to person, place, thing, quality, etc. (law: property, goods). Chattel paper - legal Hipoteca Mobiliaria - chattel - legal. APPRAISAL OF CHATTEL PROPERTY I. Value/Head. FSA-2160 (12-31-07) 4. ITEM OF FARM AND OTHER EQUIPMENT A. Item No. B. Quantity C. Description D. § 8.9A-406. Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper.
Assignment of Receivables Under Article 9: Structural Incoherence and Wasteful Filing. T but excluding chattel paper or instruments and other specialized types. Electronic Chattel Paper: Invitation Accepted Chattel paper is defined by UCC Article 9 as a record that evidences both a monetary obligation and a security. This chapter of Secured Transactions Under the UCC provides an overview of the impact of Revised Article 9 on tangible chattel paper. The chapter first discusses the. LEASE CHATTEL PAPER of the leasing industry, 1I has provoked debate over whether the distinc-tion should be eliminated and unitary treatment accorded all leases.'2.
In secured transactions, a document used to sell property on credit while retaining some interest in the property. Chattel paper must show: (1) a monetary obligation. 400.9-330. (a) A purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed merely as proceeds of inventory. Uniform commercial code revised article 9 secured transactions; sales of accounts, chattel paper, and payment intangibles reporters’ prefatory notes 1. Tangible chattel paper.10 Through this denition, Article 9 at-tempted to confer on electronic chattel paper the quasi-negotiable status of tangible chattel paper. Document that evidences a chattel mortgage, and establishes the mortgagor's monetary obligation and the mortgagee's security interest. Document showing both monetary obligation and security interest. German: Verkehrspapier n; Korean: 동산저당증권 (dongsan-jeodang-jeunggwon.