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Classifying Collateral

Classifying Collateral

Learn about the various ways that personal property is properly classified by Article 9.

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Intro:

Learn about the various ways that personal property is properly classified by Article 9.

Properly classifying collateral is a crucial early step in analyzing problems in secured transactions. Collateral is personal property that is subject to a security interest or agricultural lien. Article 9 acknowledges many types of collateral. Yet there are three distinct, broad categories that help organize the types of collateral into a coherent conceptual framework: goods, quasi-tangible...