Chattel definition: chattel paper a writing or writings that evidence a monetary obligation as well as a security interest in or a lease of specific goods. (11) chattel paper means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific. Translation for 'chattel paper' in the free english-french dictionary and many other french translations. In a simple example of a setting in which a chattel paper might be used, an equipment rental company could rent equipment to a business, and retain a. Chattel paper means a record that evidences both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software.
§ 89a-330 priority of purchaser of chattel paper or instrument (a) purchaser's priority security interest claimed merely as proceeds a purchaser of chattel. A chattel paper is a document containing information about a financial obligation pertaining to a security interest held by a creditor. Definition of chattel paper: document that evidences a chattel mortgage, and establishes the mortgagor's monetary obligation and the mortgagee's security interest. Lease and by an instrument or a series of instruments, the group of writings taken together constitutes a chattel paper chattel mortgage: a lien against property.
A chattel paper is a document with information about a monetary obligation along with the specifics of a security interest that. Rights to payment almost all the major rights to payment: chattel paper: a (1) security interest in property or a lease of property and (2) a monetary obligation. Chattel paper means a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods. In this expert commentary, professor margit livingston explains what chattel paper is and the special priority rules that apply to it under the uniform commercial code.
In secured transactions, a document used to sell property on credit while retaining some interest in the property chattel paper must show: (1) a monetary obligation. Define chattel slavery chattel slavery synonyms, chattel slavery pronunciation, chattel slavery translation, english dictionary definition of chattel slavery ) n. Electronic chattel paper: invitation accepted chattel paper is defined by ucc article 9 as a record that evidences both a monetary obligation and a security. Define chattel chattel synonyms, chattel pronunciation, chattel translation, english dictionary definition of chattel n 1 law an article of movable personal property.
Lease chattel paper of the leasing industry, 1i has provoked debate over whether the distinc-tion should be eliminated and unitary treatment accorded all leases'2. For the 2010 revisions, see ucc - article 9 - secured transactions part 1 general provisions [table of contents] [subpart 1 short title, definitions, and general. Ken weinberg dissects the super-priority rule in relation to possessors and filers of chattel paper, examining the requirements of new value and possession. 1 chattel paper by anthony duggan abstract chattel paper is one of the categories of personal property identified in the personal property securities act 2009 (cth.
Special consideration for perfection opinions covering electronic chattel paper as collateral out of stock. Published: 11/17/2009 by jonathan fleisher, jen hansen this newsletter has been published in the national banking law review (nblr), june 2010, volume 29, no 3. Articulate - the leader in rapid e-learning and communications. Chicago-kent law review volume 74 issue 3symposium on revised ucc article 9 article 8 june 1999 electronic chattel paper under revised article 9: updating the concept.