U.C.C. Survey—Article 9 Developments

A number of court cases pertaining to the Uniformed Commercial Code - Article 9 are discussed. In Furr v. The Corvette Experience, Inc. (In re Corvette Collection of Boston, Inc), used automobiles were consigned to a dealership for purposes of sale. The court ruled that the cars had been "deliv...

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Bibliographic Details
Published in:The Business Lawyer 2004-08, Vol.59 (4), p.1649-1662
Main Author: Weise, Steven O.
Format: Article
Language:English
Subjects:
Agreements
Article 9
Automobile leases
Bank collateral
Banking
Bankruptcy
Collateral
Commercial law
Court decisions
Creditors
Debt
Debtors
Foreclosure sales
Intellectual property
Inventory
Liens
Payments
Retention
Secured transactions
Security interests
State court decisions
Steel products
Surveys
Survey—Uniform Commercial Code
Uniform Commercial Code-US
Wholesalers
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Summary:A number of court cases pertaining to the Uniformed Commercial Code - Article 9 are discussed. In Furr v. The Corvette Experience, Inc. (In re Corvette Collection of Boston, Inc), used automobiles were consigned to a dealership for purposes of sale. The court ruled that the cars had been "delivered" under former UCC Section 2-326 despite the fact that the consignor retained the certificate of title. Federal law often but not always plays a role in security interests in intellectual property. The court in In re Pasteurized Eggs Corp correctly held that the secured party must file a financing statement to perfect a security interest in patents and that a filing with the US Patent and Trademark Office (PTO) does not perfect the security interest. Article 9 applies to a sale of accounts and classifies the buyer as a "secured party," as in Systran Financial Service Corp v. Giant Cement Holdings, Inc.
ISSN:0007-6899
2164-1838