After Acquired Property/Accessions and Commingled Goods

Question 1

When there is an after acquired property clause in the SA

Answer 1

Then the SI attaches automatically to that collateral

Question 2

An Accession is

Answer 2

Goods that are physically united with other goods so that the identity of the original goods is not lost

Question 3

If Collateral becomes an accession

Answer 3

The SI continues in the Accession

Question 4

Commingled goods are

Answer 4

Goods that are physically united with other goods to the point their identity is lost

Question 5

An SI in Commingled

Answer 5

goods does not reach the other goods that have been commingled but will reach the larger mass of goods

Question 6

Proceeds are

Answer 6

Whatever results when collateral is sold, leased, licensed, exchanged

Question 7

an SI attaches to proceeds

Answer 7

Automatically