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Secured Transactions - Coggle Diagram

- - - - Consumer Goods §9-102(a)(23)- Goods that are used or bought for use primarily for personal, family, or household purposes.
        Subjective Test against debtor (solely focuses on debtor and focused on the security interest)
      - Farm Products §9-102(a)(34)- Goods, other than standing timber, w/ respect o which the debtor is engaged in a farming operation & which are: Crops, Livestock, Supplies used or producing in farming operation, or produces of crops or livestock in unmanufactured state.
        Farming Operations-Raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquaculture operation
      - Inventory §9-102(a)(48)- CANNOT BE FARM PRODUCT and consist of raw materials, work in progress, or material (or finished products that) are used (sold, leased, or consumed in a business (in the short term)
      - Equipment: Goods other than inventory, farm products, or consumer goods.
        Used by a business in the long term
        Residual definition (catch all)
    - - Deposit Accounts; A savings or checking account maintained with a bank
      - Accounts: Rights to payment of a monetary obligation (that is not evidenced by chattel paper or an instrument) and does not include rights to payment for money advanced for property that has been or is to be sold, leased, licensed, signed, or otherwise disposed of, for services rendered or to be rendered.
        Can't be a straight up loan=Funds Advanced
    - - Instruments §9-102(a)(47)- A negotiable instrument that is not itself a security agreement.
        Mainly Checks and promissory notes
        Security Agreements: An agreement that creates or provides for a security interest
      - Chattel Paper §9-102(a)(11)- Record(s) that evidence both a monetary obligation 7 a security interest in specific goods.
        Record: Information that is retrievable e in perceivable form (written or electronic)
    - - Genreral Intangible §9-102(a)(42)- means any personal property (not included or defined in §9-102). The term includes payment intangible and software
      - Payment Itangible §9-102(a)(61)- A general intangible under which the account debtors principal obligation is a monetary obligation.
      - Commercial Tort Claims §9-102(a)(13)- A tort claim with respect which;
        (a)the claimant is an organization; OR
        (b)claimant is an individual and the claim:
        (1) arose in the course of claimants business or profession AND
        (2)doesn't include damages arising out of personal injury or death (think defamation).