Secured Transactions: Applications and Types of Collateral

Question 1

Article 9 applies to . . .

Answer 1

any transaction, regardless of form, that creates a security interest in personal property or fixtures by contract

Question 2

Article 9 does not apply to . . .

Answer 2

Landlord liens, non-agricultural liens, assignments contracts, transfer of interests, or security interests governed by state or foreign law

Question 3

Types of Collateral in general

Answer 3

Goods; tangible intangibles; intangible intangibles.

TI include instruments, documents, or chattel paper. II include accounts, general intangibles, commercial tort claims