CiteTEXT
...requisites of a financing statement are set forth at N.J.S.A. 12A:9-402(1). In 1981, substantial amendments to Article 9 of the Code were adopted in New Jersey, which became effective on December ...filed with the Secretary of State is effective for five years. The effectiveness of the financing statement lapses on the expiration of the five year period. N.J.S.A. 12A:9-403(2).
B...financing statement. Therefore, there is no "statement indicating the types, or describing the items, of collateral" as required by N.J.S.A. 12A:9-402, and the security interest is rendered...
...agreement. N.J.S.A. 12A:9-203. The original financing statement filed here resulted in the perfection of a security interest which had attached by virtue of the underlying security agreement. The lapse...financing statement. No continuation statement was, however, thereafter filed, resulting, five years after the initial filing, in a lapse of the effectiveness of the original statement. As a consequence of...priority over his title. The position taken by the assignee was that the financing statement having lapsed, the security interest was rendered not...
...N.J.S.A. 12A:9-204(3)). It is uncontroverted that the bank had taken all necessary steps for perfecting its security interest (N.J.S.A. 12A:9-303(1)), including the filing of a financing ...now owned, held and/or hereafter to be created satisfactory to the Bank." Simultaneously, a financing statement was filed in the office of the Secretary of State.
On May 4, 1973...financing statement covering the assignment was duly filed. Sher-Mart owed at that time the sum of $48,109.35 plus interest accruing at the per diem rate of $10.88. By reason of Sher-Mart's having...
...(a), a financing statement must be filed. Under N.J.S.A. 12A:9–502(d), that financing statement may be filed before a security agreement is made or a security interest oth...security interest under N.J.S.A. 12A:9–310(a) and –315(a)(2) by filing a financing statement covering the collateral of Acciavatti's anticipated counsel fees. When OKS filed its financing.... On December 2, 2010, OKS filed a UCC–1 financing statement with the Department of Treasury, which listed as debtors...
...execution of financing statements describing the collateral. N.J.S.A. 12A:9-302 and 303. Delaware Repair executed a UCC-1 financing statement in favor of Royal Bank on its demand promissory note c...). Royal Bank loaned $75,000 to Delaware Repair evidenced by a demand promissory note. Delaware Repair also secured the loan. It executed a financing statement covering all of its "inventory, equipment..., fixtures, machinery, appliances, tools, furniture and furnishings, leasehold interests, accounts receivable, now and hereafter acquired." Royal Bank filed that financing statement with the Camden...
..., which entered judgment in favor of Grandberry in the amount of $7,347.21 on the UCC claims.
N.J.S.A. 12A:9-101 to -710..., directing plaintiff pay Grandberry the statutory penalty of $7,347.21 pursuant to N.J.S.A. 12A:9-625. This appeal and cross-appeal followed.
On appeal, Grandberry argues..., plaintiff improperly returned the automobile to National, rather than disposing the collateral by private or public sale, pursuant to the UCC. N.J.S.A. 12A:9-601(b); N.J.S.A. 12A:9...
.... 12A:9-302 requires that a financing statement be filed to perfect a security interest in a fixture or for a motor vehicle required to be licensed. That section further provides that filing is not...effective with regard to collateral covered by the financing statement against any person who has knowledge of the contents of such financing statement.
In light of the decisions...dispute between the parties with reference to N.J.S.A. 54:5-9 and N.J.S.A. 12A:9-313.
The facts are not in dispute. On or about February 25, 1975 Emma Askins (Stubbs) purchased a mobil...
...subsection (1) of Section 9-402 relating to the contents of a financing statement, real estate is sufficient whether or not it is specific if it reasonably identifies what is described...manufacture of products for 2 x 2 four cavity cassette cover the Debtor and base mold One twenty-four cavity roller mold One sixteen cavity hub mold The appropriate financing statement was duly filed...." 471 F.2d at 1125.
The New Jersey Code section, N.J.S.A. 12A:9-110, governing here reads as...
...-9-502(a). Moreover, "[a] financing statement sufficiently indicates the collateral that it covers if the financing statement provides: (1) A description of the collateral pursuant to...Blackjewel Financing Statement. Therefore, even if the recorded Kentucky Mortgage satisfied W. Va. Code § 46-9-502(c) with respect to the Wyoming coal, the...type of collateral at issue. To perfect a security interest in accounts, a secured party must file a financing statement. W. Va. Code § 46-9-310...
...other trade names or the names of partners. N.J.STAT.ANN. § 12A:9-402(8) (West 1991).
The purpose of a financing statement is to put a searcher on notice that...in all Accounts, Equipment, General Intangibles and Inventory . . . now owned or hereafter acquired by the Borrower." On March 3, 1986, AFF filed a UCC-1 Financing Statement in Cape May County, New...financing statement is sufficient if it (1) gives the name of the debtor and the secured party; (2) is signed by the debtor; (3) gives an address of the secured party from which information regarding the...
...the Secretary of State of New Jersey. See N.J.S.A. 12A:9-401(1)(c). The financing statement was not renewed within 5 years of its filing date. See N.J.S.A. 12A:9-403. All parties...Jersey . . .
A financing statement covering these items was filed with the Salem County Clerk's Office on November 27, 1974. No financing statement was filed with...does not have a perfected security interest on any of the debtor's personal property because of the failure to properly file a financing statement.
Mariner has filed a claim in...
...requiring filing of a financing statement, N.J.S.A. 12A:9-302, or to require provision for an assignment of rents sufficiently specific to permit recording with the County Clerk, would be inconsistent with...the language been sufficiently specific, VRG arguably could have filed a UCC-1 financing statement or recorded an assignment of rents, as GKN...property, undertook to assist Golden Reef and Perlman Enterprises with the development of a shopping center. In addition to assisting with the design, financing, and zoning approvals necessary to develop...
... so, to prepare a redevelopment plan in accordance with the Local Redevelopment and Housing Law (Local Redevelopment Law), N.J.S.A. 40A:12A-1 to -63. Pursuant...Local Redevelopment Law substitutes the term "in need of redevelopment," N.J.S.A. 40A:12A-5, for the term "blighted" that had been used in prior legislation. See N.J.S.A. 40A:12A-6c...explained the contents of the redevelopment plan to the Board at an executive session. Following her presentation, the Board adopted a resolution which recommended that the City Council adopt the...
...specified activities. Specifically, N.J.S.A. 12A:9-207(1) provides that "[a] secured party must use reasonable care in the custody and preservation of collateral in his possession"; N.J.S.A. 12A:9...commercially reasonable manner"; and N.J.S.A. 12A:9-504(3) provides that the sale or other disposition of collateral held by a secured party must be "commercially reasonable." However, Glenfed's refusal to...disposition of secured property, it was not subject to the requirement imposed by N.J.S.A. 12A:9-504(3) that a creditor act in a...
...defense of failure of consideration on the part of Universal, both under the Negotiable Instruments Law, N.J.S.A. 7:2-58, and the Uniform Commercial Code, N.J.S. 12A:3-306(c...rights considered necessary in a fast-moving, credit-extending commercial world.
We are concerned here with a problem of consumer goods financing. Such goods are defined in the...Uniform Commercial Code as those used or bought for use primarily for personal, family or household purposes. N.J.S. 12A:9-109(1). Although the Code as such is not applicable in this case, the...
...Interests to Which Filing Provisions of This Chapter Do Not Apply.
(1) A financing statement must be filed to perfect all security interest except the following....
The assignments of the mortgages to FNBB were not recorded.
A bit of history is now in order as to the usual course of conduct of such financing by the lending...banks. The financing by the so called "mortgage company", or mortgage broker, such as Kennedy, the Debtor, in this case, whereby the lending banks put up money to finance the mortgages is called...
....
If Ohio Casualty's interest is in the cash commissions themselves, its security interest is perfected by possession, rather than by filing a financing statement with the Secretary...and other personal property which are used or may become customarily used as commercial security."). General intangibles, unlike cash, are perfected by filing a financing statement with New Jersey's....").
Here, Ohio Casualty took no steps, like filing a financing statement, to put potential PIM creditors on notice of its interests in PIM's future...
...Installment Sales Contract (RISC1). Plaintiffs also signed a Sold Vehicle Odometer Statement. Issues arose regarding the financing of the vehicle and plaintiffs executed a second set of documents. After...[PLAINTIFFS] FULLY UNDERSTAND THE CONTENTS THEREIN.
Plaintiffs also signed a Sold Vehicle Odometer Statement.
On the day following the...that I am taking possession and delivery of the above described vehicle prior to financing being finalized. I understand that the [d]ealership is not financing this transaction. I further understand...
...transaction between them, Jacob Rubinoff Co. executed and recorded on April 23, 1963 a financing statement, pursuant to the Uniform Commercial Code....
Coincidentally, on June 10, 1963, a similar financing statement was filed showing Jacob Rubinoff Co., as th...assertion of an interest hostile to plaintiff in the chattel foreclosure was repudiated by the 1962 extension agreement and the filing of a financing statement on April 23, 1963. Defendants argue that any...
MOTIONS (Beta)
...Pledge and Security Agreement to D&D on May 31, 2006.
On October 12, 2005, a UCC statement (the "Financing Statement") was filed on behalf of Amboy Bank, describing the...preclude the entry of summary judgment. The Bankruptcy Court further found that the second aspect to this argument by Cayre Entities was if the collateral description in D&D's financing statement...collateral description, and the second is that the only document that purports to identify the collateral is the financing statement which refers to an irrelevant account at Brown & Company." The...