Islamic law has traditionally prohibited the creation of a security interest
in future assets.
Once a security interest
has been created and the transaction is properly within the jurisdiction of the PPSA, the parties must comply with the statutory requirements.
The Uniform Commercial Code (UCC) sets forth rules governing secured transactions and how security interests
are attached and perfected against personal property owned by a debtor.
Second, a creditor's security interest
must be perfected according to Article 9's requirements.
6) They must understand whether, in any particular circumstance, they have crossed the transactional threshold and created a PPSA security interest
Negotiating a security interest
is always a tricky thing.
In contrast, the deemed security interest
arises 'whether or not the transaction concerned, in substance, secures payment or the performance of an obligation.
By Anton AndreevSchoenherr Attorneys at LawBanks in Bulgaria are seriously concerned with borrowers fraudulently manipulating their accountancy books with the effect that banks' security interests
are declared invalid and banks are declassed into ordinary (unsecured) insolvency creditors.
Further, mandatory registration of subsisting security interest
(equitable mortgages) would promote innovation in credit information.
The Personal Property Securities Register (PPSR) is the register where security interests
over personal property may be registered and can be searched.
The question arises as to who has the earliest perfected security interest
in this intellectual property and is, therefore, first in line for the collateral and who has an "imperfected" security interest
and is left empty-handed.
national security interest
in not prejudicing the outcome of Israeli-Palestinian peace talks.
China demands that the US and South Korea respect the security interests
and concerns of China and other regional countries, with an immediate stop to the deployment process and removal of the equipment," the spokesman said.
in Personal Property: Cases, Problems, and Materials, 6th Edition
The Statement of Objects and Reasons of the bill says, taking security interests
over movable property is considered risky under the current legal framework.