Using First Principles of UCC Article 9 to Solve Statutory Puzzles in Receivables Financing
نویسندگان
چکیده
INTRODUCTION .................................................................................... 298 I. APPLICATION, SCOPE, AND FUNCTIONS OF ARTICLE 9 PRIORITY RULES FOR RECEIVABLES: EXAMPLES AND SOLUTIONS ...................... 299 A. How FTFOP Creates the Power to Transfer a Security Interest ......................................................................................... 300 B. The Application of FTFOP to the Sale of Accounts ..................... 302 C. The Application of FTFOP to the Sale of Payment Intangibles ... 308 1. The Effect of Prefiling by a Collateral Assignee ................... 308 2. The Effect of Prefiling by a Buyer ......................................... 309 3. Why Prefiling by a Buyer Fixes the ―Time of Filing‖ Under FTFOP ........................................................................ 311 D. Concurrent Perfection by Two Methods ...................................... 317 E. When Priority Rules Create the Power to Transfer Rights in Collateral ..................................................................................... 318 II. ISSUES ARISING FROM CHATTEL PAPER .............................................. 321
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