chattel paper

chattel paper
chattel paper see paper

Merriam-Webster’s Dictionary of Law. . 1996.

chattel paper
n.
A document that records a debt and a security interest or lease of specific goods.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


chattel paper
USA
Defined in the UCC as a record or records that evidence both a monetary obligation and a security interest in specific goods, a security interest in specific goods and software used in the goods, a security interest in specific goods and license of software used in the goods, a lease of specific goods, or a lease of specific goods and license of software used in the goods. In this paragraph, "monetary obligation" means a monetary obligation secured by the goods or owed under a lease of the goods and includes a monetary obligation with respect to software used in the goods. The term does not include charters or other contracts involving the use or hire of a vessel or records that evidence a right to payment arising out of the use of a credit or charge card or information contained on or for use with the card. If a transaction is evidenced by records that include an instrument or series of instruments, the group of records taken together constitutes chattel paper (UCC §9-102(a)(11)).
Chattel paper is an asset type over which an entity can grant a security interest under Article 9 of the UCC.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


chattel paper
A writing or writings that evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes chattel paper.

Dictionary from West's Encyclopedia of American Law. 2005.


chattel paper
A writing or writings that evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement. When a transaction is evidenced both by such a security agreement or a lease and by an instrument or a series of instruments, the group of writings taken together constitutes chattel paper.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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Look at other dictionaries:

  • 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. For example, installment sales contracts that include a retail… …   Financial and business terms

  • chattel paper — A writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement. When a transaction …   Black's law dictionary

  • chattel paper — A writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods. In many instances chattel paper will consist of a negotiable instrument coupled with a security agreement. When a transaction …   Black's law dictionary

  • chattel paper — noun A document that demonstrates both a monetary obligation and a security interest either in certain goods, or in a lease on certain goods …   Wiktionary

  • chattel paper — A writing or writings which evidence both a monetary obligation and a security interest in or a lease of specific goods. UCC § 9 105(1)(b) …   Ballentine's law dictionary

  • electronic chattel paper — USA Defined in the UCC as chattel paper evidenced by a record or records consisting of information stored in an electronic medium (UCC §9 102(a)(31)). Electronic chattel paper is an asset type over which an entity can grant a security interest… …   Law dictionary

  • chattel — chat·tel / chat əl/ n [Old French chatel goods, property, from Medieval Latin capitale, from neuter of capitalis chief, principal see capital]: an item of tangible or intangible personal property; esp: chattel personal in this entry ◇ In some… …   Law dictionary

  • paper — pa·per n 1: a piece of paper containing a written statement: as a: a formal written composition or document often intended for publication the Federalist paper s b: a document containing a statement of legal status, identity, authority, or… …   Law dictionary

  • paper — A written or printed document or instrument. A document filed or introduced in evidence in a suit at law, as, in the phrase papers in the case and in papers on appeal. Any writing or printed document, including letters, memoranda, legal or… …   Black's law dictionary

  • electronic chattel paper — A document that includes both monetary obligation and a security agreement consisting of information stored in an electronic medium. A category of personal property collateral defined by the 2001 revisions to Article 9 of the UCC. American Banker …   Financial and business terms

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