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U.C.C. § 9-102 — Definitions and Index of Definitions

Editorial summary. Section 9-102 supplies Article 9's master definitions and an index cross-referencing terms defined elsewhere in the Code. It defines core categories of collateral (accounts, chattel paper, deposit accounts, documents, equipment, farm products, fixtures, general intangibles, goods, instruments, inventory, investment property, letter-of-credit rights, money, payment intangibles, promissory notes, software, tangible chattel paper) and structural terms ('security agreement,' 'security interest,' 'secured party,' 'authenticate,' 'record').

Citation: U.C.C. § 9-102 (Am. L. Inst. & Unif. L. Comm'n 1998, amended 2010 & 2022)Jurisdiction: United StatesEffective: 2001-07-01

School

Text

Governing Rule

Uniform Act text.

Editorial note. Section 9-102(a) contains the numbered defined terms; § 9-102(b) supplies the definitional index. Definitions apply throughout Article 9 unless the context otherwise requires.

Key Collateral Definitions

Uniform Act text.

Editorial note. 'Fixture' (§ 9-102(a)(41)) means goods that have become so related to particular real property that an interest in them arises under real-property law. 'Chattel paper' (§ 9-102(a)(11)) includes records evidencing both a monetary obligation and a security interest in specific goods. 'Account' (§ 9-102(a)(2)) is a right to payment for property or services.

Judicial Interpretation

Uniform Act text.

Editorial note. Collateral classification under § 9-102 is dispositive of perfection, priority, and enforcement analysis. The line between 'account,' 'chattel paper,' 'instrument,' and 'general intangible' is heavily litigated.

Cross References

Uniform Act text.

Editorial note. See U.C.C. §§ 9-109 (scope); 9-203 (attachment); 9-308 (perfection); 9-334 (fixtures); 1-201 (general definitions).

Practical Significance

Uniform Act text.

Editorial note. Every Article 9 analysis begins with the § 9-102 classification of the collateral.

Revision history

  • 1998-07-25 — Revised Article 9 promulgated.
  • 2001-07-01 — Effective date in enacting States.
  • 2010-07-09 — 2010 Amendments.
  • 2022-07-13 — 2022 Amendments; coordination with Article 12.
Canonical source: https://www.law.cornell.edu/ucc/9/9-102

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U.C.C. § 9-103 — Purchase-Money Security Interest; Application of Payments; Burden of Establishing

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