secured transactions

Generally, an account is a record, history, or report of something.

• secured transactions

As established in UCC §9 102-5, an agricultural lien is a lien placed on farm products like farm equipment or livestock that secures payment or performance in exchange for a loan of land, goods, or money.

• secured transactions

In the law of secured transactions, BIOCOB refers to a “buyer in the ordinary course of business.” There are certain

• secured transactions

A blanket security lien is a type of security interest over the assets of an entire entity rather than an individual asset. While blanket liens can technically be placed on the assets of an individual person, they are more commonly seen on the assets of a business. 

• secured transactions

Commingled goods refer to goods so physically united with other goods such that the identity of the original goods is lost. 

• For example, flour becomes a commingled good when it is used to bake bread. 

The new good created from commingled goods is known as a product or mass. Whether a good is commingled is of particular importance when discussing secured transactions.  

• secured transactions

A lien creditor is a creditor with a security interest in the debtor’s property to support the creditor’s claim. 

The Uniform Commercial Code §9-102(52) defines a lien creditor as:

• secured transactions

Perfection is the process of publicly establishing a security interest in collateral for purposes of gaining priority. Among competing security interests, a security that is perfected will prevail over other unperfected security interests (see U.C.C. § 9-322(a)).

• secured transactions

A possessory lien is a lien that secures payment or performance of an obligation for services or materials provided in connection with goods, where the lienholder retains po

• secured transactions

Purchase-money collateral refers to collateral that was purchased completely or in part by the debtor with the funds given to create a security interest in the collateral.

• secured transactions

Purchase-money security interest (PMSI) refers to security interests in purchase-money collateral. Purchase-money collateral is the collateral that was purchased completely or in part by the debtor with the funds given to create a security interest in the collateral.

• secured transactions