Special Attachment Rules I: Retention of Title and Consignments: Discussions in Secured Transactions
This podcast will focus on two types of transactions that might not satisfy § 9-203’s elements but nevertheless create a security interest. These transactions create a security interest due to the form of the transaction: retention of title and consignments. This is the first of two podcasts on this topic; see also Special Attachment Rules II: Sales of Accounts, Chattel Paper, Promissory Notes, and Payment Intangibles.
On completion of the podcast, the student will be able to:
1. Define a security interest.
2. Define the term “consignment.”
3. Describe and identify two types of transactions that create security interests even though the parties don’t explicitly provide for one.
4. List the three elements required of § 9-203, which makes a security interest enforceable.
5. Explain when Article 9 governs a consignment.