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Disposition of Repossessed Collateral Under the Uniform Commercial Code (Business Practice Library) download epub

by C.A. Ferris,B.H. Goldstein


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Disposition of repossessed collateral under the Uniform commercial code. oceedings{nOR, title {Disposition of repossessed collateral under the Uniform commercial code}, author {Christine Ferris and B H Goldstein}, year {1990} }. Christine Ferris, B H Goldstein. The Allen Institute for AIProudly built by AI2 with the help of our.

AN ACT to enact the uniform commercial code, relating to certain commercial transactions in or regarding personal property and contracts and other documents concerning them, including sales, commercial paper, bank. to provide for public notice to third parties in certain circumstances; to regulate procedure, evidence and damages in certain court actions involving such transactions, contracts or documents; to make uniform the law with respect thereto; to make an appropriation; to provide penalties; and to repeal certain acts and parts of acts.

In particular, all 50 . states and the District of Columbia have enacted (with minor variations) Article 9 of the Uniform Commercial Code, which generally permits security interest holders to repossess goods if a debtor is in default and the repossession can be conducted without a breach of the peace. Being "in default" means that the debtor has failed to fulfill. his or her obligations under the contract. The most common forms of default resulting in repossession are failing to make required payments and failing to maintain adequate insurance coverage.

Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market

Business law. Constitutional law. Criminal la. i) identified the collateral; (ii) was indexed under the debtor's name as of that date; and. (iii) was filed in the office in which to file a financing statement against the debtor covering the collateral as of that date; and. (C) any other secured party that, 10 days before the notification date, held a security interest in the collateral perfected by compliance with a statute, regulation, or treaty described in Section 9-311(a). Subsection (b) does not apply if the collateral is perishable or threatens to decline speedily in value or is of a type customarily sold on a recognized market.

deficiency judgment A judgment against a debtor for the amount of a debt remaining unpaid after collateral has been repossessed and sold. execution An action to carry into effect the directions in a court decree or judgment

deficiency judgment A judgment against a debtor for the amount of a debt remaining unpaid after collateral has been repossessed and sold. execution An action to carry into effect the directions in a court decree or judgment. TERM Spring '13. PROFESSOR DavidRantt. TAGS Uniform Commercial Code, Security interest.

He is an elected member of the American Law Institute (ALI), the American College of Commercial Finance Lawyers (ACCFL), and the California State Bar UCC Committee

on Uniform State Laws, Amendments to Uniform Commercial Code.

REPORT ON ARTICLE 9 OF THE UNIFORM COMMERCIAL CODE Committee on Commercial Law and Uniform .

The success of this incorporation strategy depends on the likely efficiency of evolved commercial practices. This analysis confirms that the incorporation strategy is far superior to a system in which lawmakers rely predominantly on individual analysis and experimentation to design commercial law.

Section 9-609 of the Uniform Commercial Code (UCC) permits the secured party to take possession of the collateral on. .Foreclosure on Intangible Collateral. A secured party’s repossession of inventory or equipment can disrupt or even close a debtor’s business.

Section 9-609 of the Uniform Commercial Code (UCC) permits the secured party to take possession of the collateral on default (unless the agreement specifies otherwise): (a) After default, a secured party may (1) take possession of the collateral; and (2) without removal, may render equipment unusable and dispose of collateral on a debtor’s premises. b) A secured party may proceed under subsection (a): (1) pursuant to judicial process; or (2) without judicial process, if it proceeds without breach of the peace.

Start studying Uniform Commercial Code. a violation of the law in repossessing collateral such as a trespass to take the property. List the rights upon possession by a secured party. Learn vocabulary, terms and more with flashcards, games and other study tools. If collateral other than inventory - if first in time is a nonpurchase security interest and second in time is a purchase money security interest, the second in time purchase money interest prevails if the purchase money security interest holder perfects before or within 20 days after debtor takes possession of the collateral.


Disposition of Repossessed Collateral Under the Uniform Commercial Code (Business Practice Library) download epub
Rules & Procedures
Author: C.A. Ferris,B.H. Goldstein
ISBN: 0471624624
Category: Law
Subcategory: Rules & Procedures
Language: English
Publisher: John Wiley & Sons Inc (November 15, 1990)
Pages: 294 pages