Creation of an enforceable security interest: attachment Flashcards
1
Q
Requirements for attachment
A
Value
Contract
Rights in the collateral (debtor’s rights)
2
Q
Contract (security agreement or record)
A
must be in writing unless the secured party has taken possession
3
Q
Record must:
A
a. be authenticated by debtor (signed or electronically marked)
b. must reasonably identify collateral
4
Q
After-acquired collateral clauses
A
enforceable
akin to floating lien
