Web26 Dec 2014 · (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 (d) for proceeds: (1) a security interest in a deposit account may be perfected WebA purchaser of chattel paper has priority over a security interest in the chattel paper which is claimed other than merely as proceeds of inventory subject to a security interest if the purchaser gives new value and takes possession of the chattel paper or obtains control of the chattel paper under Section 9-105 in good faith , in the ordinary …
Treatment of Accounts (Receivable) and of Chattel Paper
WebChattel paper is a distinct asset class in which a security interest may be created pursuant to the personal property security acts in Canadian common law provinces. Several … WebA security interest in many types of collateral, including "negotiable documents, goods, instruments, money, or tangible chattel paper," may be perfected by the secured party … heartland foods product group
Rules for Control of Electronic Chattel Paper - McMillan LLP
Web12 May 2024 · Section 9-105(a) provides that, generally, “[a] secured party has control of electronic chattel paper if a system employed for evidencing the transfer of interests in … WebThe chattel paper is not yet collateral; the automobile is. Now, though, Creditor Car Company buys a new hydraulic lift from Lift Co., and grants Lift Co. a security interest in Debtor’s chattel paper to secure Creditor Car’s debt to Lift Co. The chattel paper is now collateral. Chattel paper can be tangible (actual paper) or electronic. WebChattel Paper. One or more documents that evidences both a monetary obligation and a security interest in, or a lease of, specific goods. Common examples of chattel paper include a promissory note coupled with a security agreement, or a motor vehicle financing agreement that includes both a payment obligation and a security interest in the ... heartland for children adoption