1. Collateral Flashcards by AJ -

What is Collateral?

Goods

Semi-tangible + Intangible property

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What are Goods? What examples are there?

Movable
At the time security attaches

Consumer goods
Equipment
Farm products
Inventory

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What are Semi-tangible & Intangible property?

Instruments (monetary obligation)
Documents (goods)
Chattel paper (lease)
Investment property (stocks/bonds)
Accounts (property/services)
Deposit accounts (banks)
Commercial tort claims

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What if there is change in use of collateral?

Remains perfected (as long as financing statement was filed)

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1. Collateral Flashcards

(4 cards)