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(Article 9) Except as used in "account for", means a right to payment of a monetary obligation, whether or not earned by performance, ? for property that has been or is to be sold, leased, licensed, assigned, or otherwise disposed of, ? for services rendered or to be rendered, ? for a policy of insurance issued or to ...
Article 9 definitions. In this Article: a. ?Accession? means goods that are physically united with other goods in such a manner that the identity of the original goods is not lost.
The main point of Article 9 is to be a secured creditor: If a creditor is secured it has a claim in something of the buyer's (the goods exchanged for future payment or other collateral). This gives the creditor: Right of repossession of goods extended in exchange for future payment if the payment is never made.
A breach of contract in Iowa occurs when one party fails to fulfill the terms of an agreement, and the non-breaching party may be entitled to compensatory damages, punitive damages, and attorney's fees.
The notice of right to cure shall be in writing and shall conspicuously state the name, address, and telephone number of the creditor to which payment is to be made, a brief identification of the credit transaction and of the consumer's right to cure the default, a statement of the nature of the right to cure the ...
Article 9 of the UCC governs any transaction that is voluntary and commercial and which creates an interest in personal property. Personal property may include fixtures, which are personal property that is attached to real property, such as a furnace.
'? says Emilee Boyle Gehling, who advises businesses at Gehling Osborn Law Firm in Sioux City. If you had a written contract with the other party, that is usually sufficient proof of an agreement. Even without something in writing, however, an oral agreement may also qualify as a legally binding contract.
Article 9 is a section under the UCC governing secured transactions including the creation and enforcement of debts. Article 9 spells out the procedure for settling debts, including various types of collateralized loans and bonds.