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Chattel paper

Business Chattel mortgageChecking account

chattel paper
document that shows both a debt and a security interest in or a lease of specific goods.
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ELECTRONIC CHATTEL PAPER - A document that includes both monetary obligation and a security agreement c...
ELECTRONIC CHECK PRESENTMENT - Called ECP for short, it captures an electronic image of the check at th...

chattel paper
A category of personal property defined by Article 9 of the UCC. Chattel paper is a document that includes both a monetary obligation and a security interest in goods or a lease.

An account debtor is a person or an organization that is in debt and is obliged to pay either on an account or chattel paper or contract right. Account debtors are, sometimes, simply referred to as debtors.
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Devoted to secured transactions, sales of accounts, and chattel paper, it supplanted a number of earlier laws, including the Uniform Trust Receipts Act, the Uniform Conditional Sales Act, and the Uniform Chattel Mortgage Act.

See also: Chattel, Security agreement, Personal property, Banks, Fraud

Business Chattel mortgageChecking account

 
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