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The Business Lawyer, 2015-10, Vol.70 (4), p.1243-1268
Ort / Verlag
Chicago: Business Law Section of the American Bar Association
Erscheinungsjahr
2015
Link zum Volltext
Quelle
EBSCOhost Business Source Ultimate
Beschreibungen/Notizen
Although Article 9 generally applies to security interests in personal property, it does not apply to all kinds of personal property nor does it apply to all transactions that involve the financing of personal property. Kentucky's non-uniform section 9-109(d) excludes from the scope of Article 9 "a public-finance transaction or a transfer by a government or governmental unit". The court in Delphi Automotive Systems LLC v. Capital Community Economic/Industrial Development Corp properly held that this provision applies only to transactions in which the government is a debtor, not to transactions where the government is a secured party. Article 9 applies generally to the sale of payment rights but excludes from its scope an assignment of payment intangibles which is for the purpose of collection only. Article 9 governs most consignment transactions. Article 9 treats the consignment as a security interest, the consignor as a secured party, the consignee as the debtor, and the consigned goods as the collateral.