Sale Out of Trust

Study Aids
Key Terms
S

Sale Out of Trust

Definition

A sale of inventory that is subject to a security interest but in which the sale proceeds are not applied toward the loan and the borrower often does not inform the lender of the sale.

Related rules

Mauris finibus odio eu maximus interdum. Ut ultricies suscipit justo in bibendum. Sed eu magna efficitur, luctus lorem ut, tincidunt arcu. Praesent varius sit amet erat hendrerit placerat. In posuere eget ante id facilisis. Integer semper venenatis felis lacinia malesuada.

— In re Bluegrass Ford-Mercury, Inc.

Get full access FREE

With a 7-day free trial membership
Here's why 921,000 law students have relied on our key terms:
  • A complete online legal dictionary of law terms and legal definitions
  • Over 8,000 key terms written in plain English to help you not only understand the law but master it
  • The premier online law dictionary built specifically for law students
  • Easy access in class or on the go, accessible both online and through the Quimbee mobile app
  • Reliable - written by legal professors and practitioners
  • Get instant access to all related rules of law to any specific key term with a Quimbee Study Aids subscription

Get full access FREE

With a 7-day free trial membership