Attachment Flashcards
1
Q
Requirements of Attachment
A
(1) value must given by secured party to debtor
(2) debtor must have rights in collateral
(3) binding security agreement (AID)
2
Q
Requirements of Binding Security Agreement
A
(1) Authentication
(2) Intent to create a security agreement that’s signed
(3) Description of collateral
3
Q
After-Acquired Property
A
Security agreement can cover after-acquired property and doesn’t need to specifically reference it to be effective
