Legal definition of chattel paper
Nettet2 dager siden · A Deep Dive Into the Super-Priority Rule. by Kenneth P. Weinberg November/December 2016. In the first installment of a two-part series, Ken Weinberg … Nettet9. feb. 2015 · The initial definition of control required, in part, the existence of a “single authoritative copy” which is “unique.” Given that an electronic record may be perfectly replicated, this definition created challenges for achieving this standard, but the chattel paper finance industry has developed methods for complying with this definition.
Legal definition of chattel paper
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Nettetpriority of purchaser of chattel paper or instrument. § 9-331. priority of rights of purchasers of instruments, documents, and securities under other articles; priority of interests in … NettetDefine Electronic Chattel Paper Condition. means the delivery to the Administrative Agent of a legal opinion in a form acceptable to the Administrative Agent from a nationally recognized law firm to the effect that the Collateral Agent’s security interest in any Receivables that constitute electronic chattel paper under the UCC has been …
NettetChattel. A thing that a person can possess in physical form; a tangible, moveable asset (for example, a piece of jewellery, a painting or a car and, in some contexts, goods, equipment or machinery). Chattels are sometimes called "choses in possession", to distinguish them from choses in action. For information about how to transfer ownership … NettetChattel paper is a legal document used in secured transactions to sell property on credit while still keeping some interest in the property. It is important that the document shows: A security interest or other interest retained in the property by Party B. Chattel paper can be physical or electronic, and it is authorized by UCC §9-105.
Nettetchattel: An item of Personal Property that is movable; it may be animate or inanimate. Chattels are synonymous with goods or personalty. NettetChattel Paper. A writing or writings that evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement.
NettetCHATTEL. TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. property. A term which includes all kinds of property, except the freehold or things which are parcel of it. …
NettetCHATTEL. TheLaw.com Law Dictionary & Black's Law Dictionary 2nd Ed. property. A term which includes all kinds of property, except the freehold or things which are parcel of it. It is a more extensive term than goods or effects. Debtors taken in execution, captives, apprentices, are accounted chattels. Chattels are personal or real. c5g1216 convert-a-ball installationsNettet(a) [Perfection by filing permitted.] A security interest in chattel paper, negotiable documents, instruments, or investment property may be perfected by filing. (b) [Control or possession of certain collateral.] Except as otherwise provided in Section 9-315(c) and for proceeds: (1) a security interest in a deposit account may be perfected only by control … clove drops sweetsNettetchattels: See: assets , commodities , effects , estate , goods , paraphernalia , personalty , possessions , property c-5 galaxy engine thrust