Ongoing Financial Relationships

Ongoing Financial Relationships

Learn about how the drafters of Article 9 planned for ongoing financial relationships by permitting the original secured transaction to cover subsequent transactions, without needing to amend the security agreement.

Transcript

Intro:

Learn about the general requirements for attachment.

In this lesson, we’ll learn how Article 9 provides for ongoing financial relationships by permitting the original secured transaction to cover subsequent transactions without having to amend the security agreement.

I. Planning for Ongoing Financial Relationships

Some secured transactions are one-time occurrences. Often, though, parties have ongoing financial relationships with each other. This may occur, for example, if a debtor uses...