Article 9 - Attachment

Question 1

When does a security interest attach?

Answer 1

when it becomes enforceable against the debtor with respect to the collateral

Question 2

3 requirements of attachment

Answer 2

1. value has been given
2. debtor has rights in the collateral
3. one of the following is met:
   - authenticated security agreement
   - possession of collateral by secured party

Question 3

Value

Answer 3

value given by the secured part in exchange for obtaining security interest

Question 4

Debtor’s rights in the collateral

Answer 4

The debtor must rightfully own the it is putting up as collateral