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General Requirements for Attachment

General Requirements for Attachment

Learn about the four general requirements for attachment: value to the debtor, rights in the collateral, authentication of the security agreement, and reasonable description of the collateral.

Transcript

Intro:

Learn about the general requirements for attachment.

General Requirements for Attachment

At this point, we can identify whether a given transaction is within the scope of Article 9, and we can also properly classify the collateral in the debtor’s hands. Now, we’ll examine the first important step a creditor must take to create a security interest that’s enforceable under Article 9. This step is called attachment. Attachment in secured transactions law means that the security interest is...