A person in whose favor a security interest is created or provided for under a security agreement regardless of whether an obligation to be secured is outstanding;
An interest in farm products (such as wheat, corn, or soybeans or livestock) that secures payment or performance of an obligation for goods, services, or rental on real property that an individual or organization leases in connection with farming operations. Such liens are covered by the Uniform Commercial Code, Article 9.
In the law of secured transactions, refers to a buyer in the ordinary course of business. In order to qualify as this the buyer must purchase particular goods in good faith, without knowledge that the sale violates another individual's rights in the goods, and the buyer must buy the goods in the ordinary course of business from someone who sells that particular type of goods.
In the law of secured transactions, this refers to goods that physically united with other goods in a way that loses the identity of the original goods. Compare with accessions.
Does not included security interests or agricultural liens. An interest that secures payment or performance of an obligation either for services or materials that have been provided with regards to goods by someone in the ordinary course of business. Created by statute or other law.
Value of this lien depends upon the individual's possession of the goods in question.
A creditor that has gained an interest in property by means of attachment, levy, or some similar manner.