T here is no way to get around it. Revised Article 9, which is now the law in all 50 states and the District of Columbia, is a difficult read. Consider, for a moment, the definition of "purchase money security interest." Under former UCC �9-107, the term was defined in five or six lines. In contrast, Revised �9-103 takes over 50 lines to present the definition and parse through several issues that require an application of that definition.
May 07, 2002 at 12:00 AM
1 minute read
There is no way to get around it. Revised Article 9, which is now the law in all 50 states and the District of Columbia, is a difficult read. Consider, for a moment, the definition of “purchase money security interest.” Under former UCC �9-107, the term was defined in five or six lines. In contrast, Revised �9-103 takes over 50 lines to present the definition and parse through several issues that require an application of that definition.
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