Special Attachment Rules II: Sales of Accounts, Chattel Paper, Promissory Notes, and Payment Intangibles: Discussions in Secured Transactions
This podcast will focus on certain sale transactions that might not satisfy § 9-203’s elements for attaching a security interest but nevertheless fall within the definition of a security interest. These transactions create a security interest due to the form of the transaction, in this case sales of accounts, chattel paper, promissory notes, and payment intangibles. This is the second of two podcasts on this topic; see also Special Attachment Rules I: Retention of Title and Consignments.
On completion of the podcast, the student will be able to:
1. Describe and identify the types of sale transactions that create security interests even though the parties don’t explicitly provide for one.
2. Recognize when a transaction creates a security interest because it is within the scope for sales of accounts, chattel paper, promissory notes, and payment intangibles brought within Article 9 pursuant to § 9-109.
3. Discuss the implications of a transaction being brought within the scope of Article 9.