We think you have liked this presentation. If you wish to download it, please recommend it to your friends in any social system. Share buttons are a little bit lower. Thank you!
Presentation is loading. Please wait.
Published byJob Neal
Modified about 1 year ago
What the debtor receives upon the sale, exchange, collection, or other disposition of collateral (or proceeds of collateral).
May include property in which the creditor could not obtain a security interest originally such as: Cash Insurance proceeds on damaged, destroyed, or stolen collateral.
Creditor’s security interest automatically continues in proceeds. The security agreement does not need to mention proceeds.
Problem 367 – p. 991 Problem 368 – p. 995
Automatically perfected for 20 days. Three methods to continue perfection beyond these 20 days:
1. Same Office Original security interest perfected by filing and a financing statement covering the proceeds would be filed in the same place as the original collateral.
2. Identifiable cash proceeds
3. Proceeds perfected within the 20 day period: Creditor may or may not need to take affirmative action to achieve this perfection.
Problem 369 – p. 996 Chattel paper financier prevails over creditor with interest in chattel paper as proceeds. Problem 370 – p. 996 Tracing Problem 371 – p. 1006 “Double Debtor” issue
Problem 372 – p. 1006 Problem 373 – p. 1007
Secured Transactions Professor McKinsey OBE 118, Section 3, Fall 2004 In the real world, few goods are paid for in cash. Most are financed. How does a.
Chapter 27 Secured Transactions and E-Filing
Chapter 30 Secured Transactions Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written.
CHAPTER 25 SECURED TRANSACTIONS: ATTACHMENT AND PERFECTION DAVIDSON, KNOWLES & FORSYTHE Business Law: Cases and Principles in the Legal Environment (8.
Secured Transactions Overview of Article 9 Prepared by Professor Stephen L. Sepinuck © 2015 all rights reserved Overview of Article 9.
1 Secured Transactions Assignment 23 Maintaining Perfection Through Changes of Name, Identity, and Use.
Critical importance as many rules depend on type of collateral. Categories are mutually exclusive. Debtor’s use is determinative.
Secured Transactions and Bankruptcy Professor McKinsey OBE 118, Section 10, Fall 2004 In the real world, few goods are paid for in cash. Most are financed.
Secured Transactions UCC Title 9. Security Interest An interest in personal property or fixtures that secures payment or performance of a obligation.
© 2004 West Legal Studies in Business A Division of Thomson Learning 1 Chapter 28 Secured Transactions Chapter 28 Secured Transactions.
Creditors’ Rights and Bankruptcy Chapter 16. Secured Transactions Article 9 of UCC A transaction in which the payment of a debt is secured by collateral.
Copyright © 2008 by West Legal Studies in Business A Division of Thomson Learning Chapter 34 Secured Transactions In Personal Property Twomey Jennings.
© 2007 West Legal Studies in Business, A Division of Thomson Learning Chapter 20 Secured Transactions.
Slides developed by Les Wiletzky Wiletzky and Associates Copyright © 2006 by Pearson Prentice-Hall. All rights reserved. PowerPoint Slides to Accompany.
© 2004 West Legal Studies in Business A Division of Thomson Learning BUSINESS LAW Twomey Jennings 1 st Ed. Twomey & Jennings BUSINESS LAW Chapter 33 Secured.
Chapter 34 Secured Transactions in Personal Property Twomey, Business Law and the Regulatory Environment (14th Ed.)
Comprehensive Volume, 18 th Edition Chapter 35: Secured Transactions in Personal Property.
A person wants property (real or personal) or services but does not have money. Person needs to become a debtor.
Secured Transactions Overview of Perfection Prepared by Professor Stephen L. Sepinuck © 2015 all rights reserved Overview of Perfection.
© 2007 Prentice Hall, Business Law, sixth edition, Henry R. Cheeseman Chapter 27 Secured Transactions and Security Interests in Personal Property.
Agricultural Loan Underwriting
July 12, Ordinary building materials transform from goods to real property.
© 2011 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license.
Secured Transactions Assignment 27
Perfection and Priorities Professor McKinsey OBE 118, Section 3, Fall 2004 Tuesday we explored security interests from the perspective of the seller relative.
1 Caught in the Middle De-risking 2 Contract Terms you Normally Ignore Presented by: Eric Bartsch Stoel Rives, LLP June 12, 2014 Minneapolis, MN.
Chapter 19.1 The Law of Real and Personal Property.
Laws Protecting Debtors/Creditors and Bankruptcy Unit C Basic Business Law Objective 6.02 Part D.
© 2005 West Legal Studies in Business, a division of Thompson Learning. All Rights Reserved.1 PowerPoint Slides to Accompany The Legal, Ethical, and International.
What is a security interest? Who is a secured party? What is a security agreement? What is a ﬁnancing statement? What is a security interest? Who is a.
Click your mouse anywhere on the screen to advance the text in each slide. After the starburst appears, click a blue triangle to move to the next slide.
Chapter 36 Bankruptcy Twomey, Business Law and the Regulatory Environment (14th Ed.)
A person wants property but does not have money – needs to become a debtor.
McGraw-Hill/Irwin Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.
Chapter Thirteen. Objections to Discharge and Dischargeability of Debts After reading this chapter, you will be able to: Understand that a discharge may.
Secured Creditor vs. Debtor. When does secured party have possession of the debtor’s property (collateral)? Creditor perfected by possession. After.
Chapter 9: The Uniform Commercial Code
Professor Hugh Beale OUTLINE OF A TYPICAL PPSA SCHEME.
P A R T P A R T Credit Introduction to Credit and Secured Transactions Security Interests in Personal Property Bankruptcy 6 McGraw-Hill/Irwin Business.
© 2011 South-Western | Cengage Learning GOALS LESSON 6.1 COMMERCIAL PAPER List the various types of commercial paper, and describe the use and proper negotiation.
Chapter Nine. Exemptions After reading this chapter, you will be able to: Define of exemptions Understand the concept of exemptions and their importance.
McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 18 Secured Transactions and Bankruptcy.
Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall Chapter 13 Credit, Secured Transactions, and Bankruptcy.
Chapter Fifteen. Avoiding Powers-- Introduction After reading this chapter, you will be able to: Describe the concept and purpose of the trustee’s avoiding.
Bankruptcy and Claims Investigation By Sandy Williams, Jennifer Seidler, and Tonda Lee SmithAmundsen, LLC.
Commercial Law: Deposit Accounts and Cash Proceeds.
Once bankruptcy petition filed, creditor cannot: Receive a security interest Perfect a security interest Enforce a security interest (repossess)
Chapter 5 Fixtures. Degree of annexation Nature and use of property Relationship to property Relationship between annexor and premises Intent Issue of.
Financial Distress. What is Financial Distress? A situation where a firm’s operating cash flows are not sufficient to satisfy current obligations and.
1 Secured Transactions Assignment 22 Maintaining Perfection Through Lapse and Bankruptcy.
© 2017 SlidePlayer.com Inc. All rights reserved.