This is the first of two podcasts by Professor Jennifer S. Martin that describe the process by which a creditor identifies collateral subject to a security interest under Article 9 of the Uniform Commercial Code. This podcast focuses primarily on descriptions of tangible personal property, including the descriptions used in a security agreement, and walks the listener through a series of examples. Classifications of collateral constituting intangible property are left for another podcast.
On completion of the podcast, the student will be able to:
1. Describe how a secured creditor goes about describing the collateral in the security agreement, including by specific listing, category, and type of collateral defined in the Uniform Commercial Code.
2. Describe and identify the tangible property definitions for goods: inventory, farm products, consumer goods, and equipment.
A transcript of this podcast is here.