Escolar Documentos
Profissional Documentos
Cultura Documentos
Examples of Rights to
Payment:
Sale
Loan
Account
File
File
Chattel Paper
File<Pledge/Possession File<Pledge/Possession
Promissory Note
Auto-perfect*
File<Pledge/Possession
Payment Intangible
Auto-perfect
File
*BUT 9-330(d) still cuts off the interest if a third party buys in good faith,
for new value, without knowledge, and takes possession UNLESS the
interest in the promissory note is perfected by possession.
9-330(d) Instrument
Purchaser's Priority
Purchaser of an instrument (including
promissory notes) takes over a security
interest perfected OTHER than by
possession if the purchaser (1) gives value;
(2) takes possession; (3) in good faith; and
(4) without knowledge that the purchase
violates the rights of the third party.
Bottom Line:
1)
2)
3)