Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.
What is Article 9 explained?
Article 9 protects your right to freedom of thought, belief and religion. It includes the right to change your religion or beliefs at any time. You also have the right to put your thoughts and beliefs into action.
What are the types of collateral Article 9?
The common types of collateral in a security interest are blanket, consignment, or specifically listing the assets or a Purchase Money Security Interest. It is imperative that a secured party handles collateral with care.
Who wrote Article 9 of the UCC?
Writing in 1947, Karl Llewellyn, the Chief Reporter of the Uniform Commercial Code project, 1 The latest official edition of Article 9 was published in September 2014.
What is not covered by Article 9?
As noted in Chapter 3 (The Nature of Secured Credit under Article 9), Article 9 generally governs only consensual liens on personal property, i.e., security interests in personal property created by agreement. The creation of most other types of liens is largely outside the scope of Article 9.
What is attachment under UCC Article 9?
(a) [Attachment.] A security interest attaches to collateral when it becomes enforceable against the debtor with respect to the collateral, unless an agreement expressly postpones the time of attachment.
What is Article 9 intellectual property?
Article 9 of the UCC provides that a lender should comply with the attachment and perfection provisions to render its interest in intellectual property enforceable against the debtor and competing parties. 17 Federal statutes regulating intellectual property law do not preempt the attachment requirements of Article 9.
What is investment property under Article 9?
(49) “Investment property” means a security, whether certificated or uncertificated, security entitlement, securities account, commodity contract, or commodity account.
What are the five 5 types of collateral?
5 Types of Collateral for a Business Loan
- Real Estate. A real estate or home equity collateral is any property you own, including your family home, lots, buildings, or commercial lands.
- Business Equipment.
- Inventory.
- Invoices.
- Cash.
What is Article I Section 9 known as example?
Explanation: Habeas corpus is the right to be held in jail only if there are specific, legitimate charges filed against you in court. A person can’t be detained indefinitely without legal process.
What is the summary of Article 9 of Iccpr?
ICCPR Article 9 states: Everyone has the right to liberty and security of person. No one shall be subjected to arbitrary arrest or detention. No one shall be deprived of his liberty except on such grounds and in accordance with such procedure as are established by law.
What type of right is Article 9?
Article 9 protects your right to hold both religious and non-religious beliefs. This is an absolute right which means it can’t be interfered with by the state. Article 9 includes the right to choose or change your religion or beliefs.