Bar Exam Scope & Classification of Collateral Flashcards
Master 17 scope & classification of collateral concepts for the Bar Exam.
Scope of Article 9
5 cardsQuestion
When does Article 9 apply to a transaction based on consensual security interests?
Question
How is a 'disguised sale' (lease intended as security) determined, distinguishing it from a true lease?
Question
When are goods classified as consumer goods?
Question
When is tangible collateral classified as equipment?
Question
When is a right to payment considered an account under UCC Article 9?
Question
How are deposit accounts classified under UCC Article 9, and what's the key exception?
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