accessions

Question 1

accessions

Answer 1

goods that are physically united w/ other goods in manner that identity of original goods is not lost

Question 2

perfection for accessions

Answer 2

if security interest is perfected when collateral becomes accession, remains perfected in collateral

Question 3

priority for accessions

Answer 3

generally, rules for accessions are same as for everything else (first to file or perfect, special PMSI rules, etc.)

security interest in accession is subordinate to security interest in the whole that is perfected by notation on certificate of title

Question 4

removal and reimbursement for physical injury to the whole for accessions

Answer 4

secured party may remove accession from other goods if security interest n accession has priority over claims of every person having interest in the whole. secured party removing accession is responsible for cost of repair and any physical injury to the whole or other goods. person entitled to reimbursement may refuse permission to remove until secured party gives adequate assurance for performance of obligation to reimburse