Barbara M. Goodstein 'Shoot the Moon': True Sales Versus Secured Loans
In this edition of her Secured Transactions column, Barbara M. Goodstein discusses a recent decision in which the judge held that simply calling a transaction a true sale does not make it so. Rather, in a detailed and heavily footnoted discussion, the judge ruled that a holistic set of factors should be considered in making that determination.
December 01, 2021 at 12:45 PM
9 minute read
Practitioners may have a tendency to think of Uniform Commercial Code Article 9 as applicable just to secured financings. But as many of us are often reminded, Article 9 also governs sales of certain assets. UCC §9-109 details the different types of transactions that are subject to the purview of UCC Article 9. Among those are sales of accounts, chattel paper, payment intangibles and promissory notes.
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