4 Summary of California Law (10th), Secured Transactions in Personal Property

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<d1.o n="I. ">METHODS USED BEFORE UNIFORM COMMERCIAL CODE

<d2.o n="A. " sec="1] ">In General.

<d2.o n="B. ">Pledge.

<d3.o n="1. " sec="2] ">Nature of Pledge.

<d3.o n="2. ">Delivery of Possession.

<d4.o n="(a) " sec="3] ">Necessity of Delivery.

<d4.o n="(b) " sec="4] ">Exceptions to Requirement.

<d3.o n="3. " sec="5] ">Termination of Pledge.

<d3.o n="4. " sec="6] ">Duties and Liabilities of Pledgee.

<d3.o n="5. " sec="7] ">Rights of Pledgee.

<d3.o n="6. " sec="8] ">Remedies of Pledgee.

<d3.o n="7. " sec="9] ">Redemption of Pawned Property.

<d2.o n="C. ">Trust Receipt.

<d3.o n="1. " sec="10] ">Nature and Distinctions.

<d3.o n="2. " sec="11] ">Entruster and Trustee.

<d3.o n="3. " sec="12] ">Entruster and Third Parties.

<d2.o n="D. ">Chattel Mortgage.

<d3.o n="1. " sec="13] ">Nature of Mortgage.

<d3.o n="2. " sec="14] ">Description of Property.

<d3.o n="3. " sec="15] ">Rights of Creditors Where Mortgage Invalid.

<d3.o n="4. " sec="16] ">Remedies of Mortgagee.

<d2.o n="E. " sec="17] ">Conditional Sale.

<d2.o n="F. " sec="18] ">Inventory Lien.

<d1.o n="II. ">DEVELOPMENT OF UNIFORM COMMERCIAL CODE

<d2.o n="A. ">Former Versions.

<d3.o n="1. " sec="19] ">Original Version.

<d3.o n="2. " sec="20] ">Adoption of Revised Division 9.

<d2.o n="B. ">Current Version.

<d3.o n="1. " sec="21] ">Revision and Enactment.

<d3.o n="2. " sec="22] ">Purpose and Benefits.

<d3.o n="3. ">Scope of Division 9.

<d4.o n="(a) " sec="23] ">Transactions to Which Division 9 Applies.

<d4.o n="(b) " sec="24] ">Exceptions.

<d2.o n="C. ">Transition Provisions.

<d3.o n="1. " sec="25] ">Transactions Entered into Before Effective Date.

<d3.o n="2. ">Security Interest Enforceable Before Effective Date.

<d4.o n="(a) " sec="26] ">Perfected Before Effective Date.

<d4.o n="(b) " sec="27] ">Unperfected Before Effective Date.

<d3.o n="3. ">Perfection Step Taken Before Effective Date and Attachment Occurring After Effective Date.

<d4.o n="(a) " sec="28] ">Perfection Step Other Than Filing.

<d4.o n="(b) " sec="29] ">Perfection by Filing.

<d4.o n="(c) " sec="30] ">Continuing Effectiveness of Filed Financing Statement.

<d3.o n="4. ">When Initial Filing Statement Suffices To Continue Effectiveness of Statement.

<d4.o n="(a) " sec="31] ">Conditions for Effectiveness.

<d4.o n="(b) " sec="32] ">Period of Effectiveness.

<d4.o n="(c) " sec="33] ">Persons Entitled To File Initial Financing Statement or Continuation Statement.

<d3.o n="5. " sec="34] ">Amendment and Termination of Financing Statement Filed Before Effective Date.

<d3.o n="6. " sec="35] ">Priority.

<d1.o n="III. ">CREATION OF SECURITY INTEREST

<d2.o n="A. ">Definitions.

<d3.o n="1. ">Security Interest.

<d4.o n="(a) " sec="36] ">In General.

<d4.o n="(b) " sec="37] ">Determining Whether Transaction Creates Security Interest.

<d4.o n="(c) " sec="38] ">Purchase Money Security Interest.

<d3.o n="2. " sec="39] ">Security Agreement.

<d3.o n="3. ">Collateral.

<d4.o n="(a) " sec="40] ">In General.

<d4.o n="(b) " sec="41] ">Goods.

<d4.o n="(c) " sec="42] ">Receivables.

<d4.o n="(d) " sec="43] ">Investment Property.

<d4.o n="(e) " sec="44] ">Deposit Account.

<d4.o n="(f) " sec="45] ">Proceeds.

<d4.o n="(g) " sec="46] ">Accessions and Commingled Goods.

<d3.o n="4. " sec="47] ">Parties to Secured Transactions.

<d2.o n="B. " sec="48] ">Description of Collateral.

<d2.o n="C. " sec="49] ">Effectiveness of Security Agreement.

<d1.o n="IV. ">ATTACHMENT OF SECURITY INTEREST

<d2.o n="A. ">Requirements.

<d3.o n="1. " sec="50] ">In General.

<d3.o n="2. " sec="51] ">Debtor''&apos;s Transfer Rights.

<d3.o n="3. ">Evidentiary Alternatives.

<d4.o n="(a) " sec="52] ">Authentication.

<d4.o n="(b) " sec="53] ">Possession or Delivery.

<d4.o n="(c) " sec="54] ">Control.

<d2.o n="B. " sec="55] ">New Debtors.

<d2.o n="C. ">Extent of Attachment.

<d3.o n="1. " sec="56] ">Proceeds and Supporting Obligations.

<d3.o n="2. " sec="57] ">Right to Payment or Performance.

<d3.o n="3. " sec="58] ">After-Acquired Property.

<d3.o n="4. " sec="59] ">Investment Property.

<d3.o n="5. " sec="60] ">Commingled Goods.

<d1.o n="V. ">PERFECTION OF SECURITY INTEREST

<d2.o n="A. " sec="61] ">Significance of Perfection.

<d2.o n="B. ">Perfection Other Than by Filing.

<d3.o n="1. " sec="62] ">In General.

<d3.o n="2. ">Methods.

<d4.o n="(a) ">Automatic Perfection.

<d5.o n="(1) " sec="63] ">On Attachment.

<d5.o n="(2) " sec="64] ">In Proceeds.

<d5.o n="(3) " sec="65] ">For Specified Collateral.

<d4.o n="(b) ">Perfection Under Other Law.

<d5.o n="(1) " sec="66] ">Property Subject to Certain Statutes, Regulations, and Treaties.

<d5.o n="(2) " sec="67] ">Continued Perfection Following Change in Governing Law.

<d4.o n="(c) ">Possession.

<d5.o n="(1) " sec="68] ">Statutory Authorization.

<d5.o n="(2) " sec="69] ">How Possession Is Taken.

<d5.o n="(3) " sec="70] ">Timing of Possession.

<d5.o n="(4) " sec="71] ">Acknowledgment Not Required.

<d5.o n="(5) " sec="72] ">Delivery to Third Party by Secured Party.

<d4.o n="(d) " sec="73] ">Delivery of Certificated Security.

<d4.o n="(e) " sec="74] ">Control.

<d4.o n="(f) " sec="75] ">Notice to Insurer.

<d2.o n="C. ">Perfection by Filing.

<d3.o n="1. ">When Filing Is Available.

<d4.o n="(a) " sec="76] ">Types of Collateral.

<d4.o n="(b) " sec="77] ">Prior Authorization Required.

<d4.o n="(c) " sec="78] ">Precautionary Filing.

<d3.o n="2. ">Contents of Financing Statement.

<d4.o n="(a) " sec="79] ">Statutory Requirements.

<d4.o n="(b) " sec="80] "> name of Debtor.

<d4.o n="(c) " sec="81] "> name of Secured Party.

<d4.o n="(d) " sec="82] ">Indication of Collateral.

<d4.o n="(e) " sec="83] ">Effect of Errors or Omissions.

<d4.o n="(f) " sec="84] ">Effect of Post-Filing Events.

<d4.o n="(g) " sec="85] ">Effect of New Debtor.

<d3.o n="3. ">Procedure for Filing Statement.

<d4.o n="(a) " sec="86] ">Time for Filing.

<d4.o n="(b) " sec="87] ">Filing Office.

<d4.o n="(c) " sec="88] ">Filing Fees.

<d4.o n="(d) " sec="89] ">What Constitutes Effective Filing.

<d4.o n="(e) " sec="90] ">Filing Office''&apos;s Acceptance or Refusal of Record.

<d4.o n="(f) ">Duties of Filing Office.

<d5.o n="(1) " sec="91] ">Numbering and Indexing Records.

<d5.o n="(2) " sec="92] ">Maintenance and Destruction of Records.

<d5.o n="(3) " sec="93] ">Acknowledgments and Responses to Requests.

<d5.o n="(4) " sec.n n="[§93A] " name="(New) Nondisclosure of Social Security Numbers.

<d4.o n="(g) " sec="94] ">Filing Mistakes and Delays.

<d4.o n="(h) " sec="95] ">Filing Office Rules.

<d4.o n="(i) " sec="96] ">Option To Record Instead of File.

<d3.o n="4. ">Continued Effectiveness of Financing Statement.

<d4.o n="(a) " sec="97] ">Duration.

<d4.o n="(b) " sec="98] ">Lapse.

<d4.o n="(c) " sec="99] ">Continuation Statement.

<d4.o n="(d) ">Amendment.

<d5.o n="(1) " sec="100] ">Procedure.

<d5.o n="(2) " sec="101] ">Persons Entitled To File Amendment.

<d5.o n="(3) " sec="102] ">Effectiveness of Amendment.

<d4.o n="(e) " sec="103] ">Termination.

<d2.o n="D. " sec="104] ">Accessions and Commingled Goods.

<d1.o n="VI. ">PRIORITY

<d2.o n="A. ">Unperfected Security Interests as Against Other Claims.

<d3.o n="1. " sec="105] ">Subordinate to Competing Security Interests Specified by Statute.

<d3.o n="2. " sec="106] ">Subordinate to Lien Creditors.

<d3.o n="3. " sec="107] ">Subordinate to Purchasers Other Than Secured Parties.

<d3.o n="4. " sec="108] ">Priority of Purchase Money Security Interests Over Other Claims.

<d3.o n="5. " sec="109] ">When Rights of Buyer of Accounts and Chattel Paper Are Subordinate to Seller''&apos;s Creditors or Subsequent Transferees.

<d3.o n="6. " sec="110] ">When Rights of Consignor Are Subordinate to Consignee''&apos;s Creditors or Subsequent Transferees.

<d2.o n="B. ">Buyers and Lessees of Goods and Licensees of General Intangibles.

<d3.o n="1. " sec="111] ">Buyers.

<d3.o n="2. " sec="112] ">Lessees in Ordinary Course of Business.

<d3.o n="3. " sec="113] ">Licensees in Ordinary Course of Business.

<d2.o n="C. ">Conflicting Security Interests in Same Collateral.

<d3.o n="1. ">General Rules of Priority.

<d4.o n="(a) " sec="114] ">Temporal Priority.

<d4.o n="(b) " sec="115] ">Priority in Proceeds.

<d4.o n="(c) " sec="116] ">Priority in Supporting Obligations.

<d3.o n="2. ">Special Rules of Priority.

<d4.o n="(a) " sec="117] ">Priority in Proceeds.

<d4.o n="(b) " sec="118] ">Priority Determined by Other Commercial Code Provisions.

<d4.o n="(c) ">Priority of Purchase Money Security Interests.

<d5.o n="(1) " sec="119] ">In Goods Other Than Inventory and Livestock.

<d5.o n="(2) " sec="120] ">In Inventory.

<d5.o n="(3) " sec="121] ">In Livestock.

<d5.o n="(4) " sec="122] ">In Software.

<d5.o n="(5) " sec="123] ">In Proceeds.

<d5.o n="(6) " sec="124] ">Multiple Purchase Money Security Interests.

<d4.o n="(d