Value and Rights in the Collateral: Discussions in Secured Transactions
This podcast focuses on two of the elements needed to attach a security interest to collateral under Article 9 of the Uniform Commercial Code: value given and a debtor’s rights in the collateral. The security agreement requirement is the subject of a separate podcast.
On completion of the podcast, the student will be able to:
1. Recall the definition of a security interest as provided in U.C.C. § 1-201(35).
2. Identify two of the key elements of attachment of a security interest: (i) value given; and (ii) the debtor having rights to the collateral, per U.C.C. § 9-203.
3. Describe the various ways one can satisfy the value requirement as provided in U.C.C. § 1-204.
4. Describe the various ways in which the debtor can have rights to the collateral.