UCC § 9-308

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UCC § 9-308

Definition

A provision of the Uniform Commercial Code (UCC) that provides priority to a purchaser in the ordinary course of his business who purchases chattel paper and obtains possession of the chattel paper over a secured party who only has an interest in the chattel paper as proceeds of inventory.

Related rules

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— Blazer Financial Services, Inc. v. Harbor Federal Savings & Loan Association

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— Rex Financial Corp. v. Great Western Bank & Trust

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