Attachment

Question 1

Security Agreement

Answer 1

Written or electronically stored security agreement

Question 2

Possession as a Security Agreement

Answer 2

If collateral is in possession of secured party pursuant to an oral agreement, this qualifies as a pledge

Question 3

Control as a Security Agreement

Answer 3

If collateral is a non-consumer deposit account, electronic chattel paper, or investment property, agreement can be evidenced by control

Question 4

Security Agreement Requirements

Answer 4

Evidenced by a record showing an intent to create a s.i.
Authenticated by the debtor
Adequate description of collateral “reasonably identify”
Secured Party must have given value
Debtor must have rights in the collateral

Question 5

Requirements for Attachment

Answer 5

Security Agreement
Value Given
Debtor’s Rights in the Collateral