5.  A person wants property but does not have money – needs to become a debtor.

6.  Options available to potential creditor:  1. Refusal

7.  A person wants property but does not have money – needs to become a debtor.  Options available to potential creditor:  1. Refusal  2. Obtain promise to repay

8.  A person wants property but does not have money – needs to become a debtor.  Options available to potential creditor:  1. Refusal  2. Obtain promise to repay  3. Obtain surety

9.  A person wants property but does not have money – needs to become a debtor.  Options available to potential creditor:  1. Refusal  2. Obtain promise to repay  3. Obtain surety  4. Obtain collateral

10. 1. Collateralized transaction in personal property or fixtures

11. a. Property debtor owns

12. 1. Collateralized transaction in personal property or fixtures a. Property debtor owns b. Property to be acquired with the loan (purchase-money security interest or PMSI)

13. 1. Collateralized transaction in personal property or fixtures a. Property debtor owns b. Property to be acquired with the loan (purchase-money security interest or PMSI) c. After-acquired property

14. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables

15. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables 3. Consignments which could deceive creditors

16. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables 3. Consignments which could deceive creditors a. Value $1,000 or more

17. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables 3. Consignments which could deceive creditors a. Value $1,000 or more b. Not consumer goods

18. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables 3. Consignments which could deceive creditors a. Value $1,000 or more b. Not consumer goods c. Potentially deceptive consignee

19. 1. Collateralized transaction in personal property or fixtures 2. Sales of receivables 3. Consignments which could deceive creditors 4. Lease-purchase arrangements

20.  Rights governed by U.S. federal law

21.  Real property (except fixtures)

22.  Rights governed by U.S. federal law  Real property (except fixtures)  Tort claims (except commercial tort claims)

23.  Rights governed by U.S. federal law  Real property (except fixtures)  Tort claims (except commercial tort claims)  Deposit accounts in consumer transactions

24.  Rights governed by U.S. federal law  Real property (except fixtures)  Tort claims (except commercial tort claims)  Deposit accounts in consumer transactions  Statutory liens

25.  Rights governed by U.S. federal law  Real property (except fixtures)  Tort claims (except commercial tort claims)  Deposit accounts in consumer transactions  Statutory liens  Wage assignments

27.  Goods – moveable items and fixtures

28.  Consumer Goods

29.  Equipment

30.  Inventory

31.  Farm Products -- crops

32.  Farm Products -- livestock

34.  Instruments – notes, drafts, checks, CDs

35.  Documents – Warehouse receipt

36.  Documents – Bill of lading

37.  Chattel Paper (1) Monetary Obligation plus (2) Security interest in or lease of goods

38.  Account Right to money for Goods sold or leased or Services rendered Not evidenced by an instrument or chattel paper.

39.  Deposit Account – checking or savings account

40.  Investment Property

41.  Commercial Tort Claims

42.  General Intangibles

44.  1. Creditor gives value

45.  2.Security agreement (contract)

46.  1. Creditor gives value  2.Security agreement (contract)  a. Oral (the pledge) – only if collateral in creditor’s possesion

47.  1. Creditor gives value  2.Security agreement (contract)  a. Oral  b. Authenticated record which describes collateral

48.  1. Creditor gives value  2.Security agreement (contract)  a. Oral  b. Authenticated record which describes collateral  c. Control

49.  1. Creditor gives value  2.Security agreement (contract)  3. Debtor has rights in the collateral