California Commercial Code 9108 – (a) Except as otherwise provided in subdivisions (c), (d), and …
(a) Except as otherwise provided in subdivisions (c), (d), and (e), a description of personal or real property is sufficient, whether or not it is specific, if it reasonably identifies what is described.
(b) Except as otherwise provided in subdivision (d), a description of collateral reasonably identifies the collateral if it identifies the collateral by any of the following:
Terms Used In California Commercial Code 9108
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Tort: A civil wrong or breach of a duty to another person, as outlined by law. A very common tort is negligent operation of a motor vehicle that results in property damage and personal injury in an automobile accident.
(1) Specific listing.
(2) Category.
(3) Except as otherwise provided in subdivision (e), a type of collateral defined in this code.
(4) Quantity.
(5) Computational or allocational formula or procedure.
(6) Except as otherwise provided in subdivision (c), any other method, if the identity of the collateral is objectively determinable.
(c) A description of collateral as “all the debtor’s assets” or “all the debtor’s personal property” or using words of similar import does not reasonably identify the collateral.
(d) Except as otherwise provided in subdivision (e), a description of a security entitlement, securities account, or commodity account is sufficient if it describes either of the following:
(1) The collateral by those terms or as investment property.
(2) The underlying financial asset or commodity contract.
(e) A description only by type of collateral defined in this code is an insufficient description of either of the following:
(1) A commercial tort claim.
(2) In a consumer transaction, consumer goods, a security entitlement, a securities account, or a commodity account.
(f) A description of investment property collateral also shall meet the applicable requirements of § 1799.103 of the Civil Code. A description of consumer goods also shall meet the applicable requirements of § 1799.100 of the Civil Code.
(Repealed and added by Stats. 1999, Ch. 991, Sec. 35. Effective January 1, 2000. Operative July 1, 2001, by Sec. 75 of Ch. 991 and Section 9701.)