Washington Assignment of Seller's Interest in Security Agreement
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How to fill out Assignment Of Seller's Interest In Security Agreement?
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FAQ
Article 9 governs security interests in personal property, though other parts of the Uniform Commercial Code sometimes play a role in the creation, enforcement, perfection, and priority of security interests. In Washington, Article 9 is at Chapter 62A. 9A RCW.
Section 9-102(a)(64) of the UCC provides that proceeds are whatever is received upon the sale, lease, license, exchange, or other disposition or collection of, or distribution on account of, collateral. Security Interests in Proceeds of Collateral - Business Law Today businesslawtoday.org ? 2016/01 ? security-interest... businesslawtoday.org ? 2016/01 ? security-interest...
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. Article 9: Definition, How It Works, Example, Revisions - Investopedia investopedia.com ? terms ? article-9 investopedia.com ? terms ? article-9
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. UCC Article 9 for Dummies - National Association of Credit Management nacm.org ? nacm-blog ? 3114-ucc-article-9-for-d... nacm.org ? nacm-blog ? 3114-ucc-article-9-for-d...
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. Secured Transactions Law & the UCC | Small Business Law Center - Justia justia.com ? business-operations ? docs ? sec... justia.com ? business-operations ? docs ? sec...
These elements include: the parties involved in the transaction, the property for sale or lease, the purchase price or lease rates, the closing date, and the signatures of all the relevant parties.