Margit Livingston on Equitable Marshaling of U.C.C. Article 9 Security Interests

Plaintiff obtained a default judgment against Artemis Technologies and then sought to enforce that judgment serving writs of garnishment on their customers, who were the account debtors on the defendant's accounts receivable. For some reason the Bank with a prior perfected security interest had a...

Professor Margit Livingston on Attachment of U.C.C. Article 9 Security Interests

The first job for any secured party seeking to have an enforceable and perfectible security interest is to achieve attachment by: 1) having the secured party give value to the debtor; 2) the debtor having rights in the collateral and; usually, 3) the debtor's authentication of a security agreement...

Professor Margit Livingston on Article 9 Secured Parties vs. Lien Creditors Post-Default

Excerpt: Secured parties under U.C.C. Article 9 have a love-hate relationship with the cash proceeds of their collateral. On the one hand, a security interest in original collateral (inventory or accounts, for example) will remain attached and perfected in all identifiable cash proceeds of that collateral...

Enforceable Security Agreement Implied From Bill of Sale—UCC § 9-203

Tough Company, Inc. v. Wurlitzer 2014 Cal. App. Unpub. LEXIS 633 (Cal. App. 3d Jan. 28, 2014) (Not Officially Published) [ an enhanced version of this opinion is available to lexis.com subscribers ] In a legal battle between a “Tough Company” and a “Wurlitzer,” you might expect...