Types of collateral

Question 1

Types of collateral

Answer 1

goods, and semi-intangible & intangible property

Question 2

4 types of goods as collateral

Answer 2

1. Consumer goods: (used or bought primarily for personal, family, or household purposes
2. Equipment: (used or bought for use primarily in business) DEFAULT CATEGORY
3. Farm products: products in possession of a debtor engaged in farming operations
4. Inventory: Materials used or consumed by a business in a short period of time OR held by a person who holds them for sale or lease or to be furnished under service Ks

Question 3

8 types of semi-intangible and intangible property

Answer 3

1. Instruments: notes, checks, drafts
2. documents
3. chattel paper
4. Investment property: stocks, bonds, mutual funds, brokerage accounts containing such items
5. Accounts (accounts receivable): A right to payment for goods sold or services rendered
6. Deposit accounts: bank accounts
7. commercial tort claims
8. General intangibles (everything else) DEFAULT