The scope of UCC Article 9

Question 1

Collateral could be…

Answer 1

Tangible goods:
Consumer goods
Equipment
Inventory
Farm products
Fixtures

Intangible goods:
patents, trademarks, copyrights, stocks, bonds, mutual funds, proceedings from sale of collateral, accounts receivable, promissory notes & drafts

Question 2

Test for classifying collateral

Answer 2

subjective test- debtor’s purpose