Attachment

Question 1

Requirements of Attachment

Answer 1

(1) value must given by secured party to debtor
(2) debtor must have rights in collateral
(3) binding security agreement (AID)

Question 2

Requirements of Binding Security Agreement

Answer 2

(1) Authentication
(2) Intent to create a security agreement that’s signed
(3) Description of collateral

Question 3

After-Acquired Property

Answer 3

Security agreement can cover after-acquired property and doesn’t need to specifically reference it to be effective