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5 Cards in this Set
- Front
- Back
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secured transaction |
property serves as collateral for loan |
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sales treated like secured transactions |
chattel paper promissory note accounts payment intangibles |
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where to file financing statement |
corp - state of incorporation business that is not registered organization - where operates business or if multiple states, in where the chief executive office is individuals principle residence fixtures : timber cut, oil and gas, extracted collateral = file in county where located |
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financing statement requirements |
must have : name of debtor name of secured party description of collateral (can be generic) -real property must indicate it covers real property types of collateral -describe real property -name record owner if missing any, not perfected nonessential information : addresses, whether debtor = individual or corp |
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ff |
ff |
