A9 - Creating a S.I

Question 1

Classification - 3 types

Answer 1

+ Goods
+ Quasi Tangible Property
+ Intangible

Question 2

Classification - Definition of Goods

Answer 2

All things moveable when a S.I. attaches

Question 3

Classification - Intangible Property Defintion

Answer 3

Property having no significant form

Question 4

Classification - Categories under goods

Answer 4

Consumer goods
Equipment
Farm Products
Inventory

Question 5

Classification - Categories under Quasi Intangible Property

Answer 5

Instrument
Investment Property
Documents
Chattel Paper
Letter of Credit Rights

Question 6

Classification - Categories under Intangible Property

Answer 6

Accounts
Commercial Tort Claims
Deposit Accounts
General Intangible
Healthcare
Payment intangibles

Question 7

Classification - Consumer Goods

Answer 7

Main Category = Goods
Defin = Goods that are used or bought for use primary personal, family or household

Question 8

Classification - Equipment

Answer 8

Main Category = goods
Defin = goods other than inventory, farm products or consumer goods
+ catch all term
+ goods that are not for sale but are used by a business for a relatively long period of time are equipment

Question 9

Classification - Inventory

Answer 9

Main category = goods
Defin = goods other than farm products which: leased by person, held by a person for sale/lease or to be furnished under a K for services, or raw materials/work in process

Question 10

Classification - Instruments

Answer 10

Main category = quasi tangible property
Defin = Negotiable instrument or any other writing that evidences a right to the payment of a monetary obligation

Question 11

Classification - Investment Property

Answer 11

Main category = quasi tangible property
Defin = A security, security entitlement, securities account, commodity account or K

Question 12

Classification - documents

Answer 12

Main category = quasi tangible property
Defin = document of title or receipt

Question 13

classification - chattel paper

Answer 13

Main category = quasi tangible property
Defin = records that evidence both a monetary obligation & a security interest in specific goods, license of software or a lease in interest/license of software

Question 14

Classification - Letter of credit rights

Answer 14

Main category = quasi tangible property
Defin = means a right to payment or performance under a letter of credit, whether or not the beneficiary has demanded or is at the time entitled to demand payment or performance