UCC Incorporation By Reference: An Imperfect Way To Perfect

Law360 (October 2, 2018, 4:19 PM EDT) -- Article 9 of the Uniform Commercial Code allows a fair amount of flexibility in the descriptions of collateral contained in UCC-1 financing statements that would be sufficient in order to perfect a security interest over such collateral created under the related security agreement.[1] A recent bankruptcy case from the district court of Puerto Rico, however, clearly demonstrates the limits of this flexibility while providing lenders' counsel with clear and unambiguous instructions on how to avoid the mistakes made by counsel for the "secured creditors" in that case, which caused its client's security interest to be unperfected. The decision is a reminder to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Related Sections

Law Firms

Government Agencies

Judge Analytics

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!