§ 47-9-601 Rights after default – Judicial enforcement – Consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
§ 47-9-602 Waiver and variance of rights and duties
§ 47-9-603 Agreement on standards concerning rights and duties
§ 47-9-604 Procedure if security agreement covers real property or fixtures
§ 47-9-605 Unknown debtor or secondary obligor
§ 47-9-606 Time of default for agricultural lien
§ 47-9-607 Collection and enforcement by secured party
§ 47-9-608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
§ 47-9-609 Secured party’s right to take possession after default
§ 47-9-610 Disposition of collateral after default
§ 47-9-611 Notification before disposition of collateral
§ 47-9-612 Timeliness of notification before disposition of collateral
§ 47-9-613 Contents and form of notification before disposition of collateral – General
§ 47-9-614 Contents and form of notification before disposition of collateral: Consumer-goods transaction
§ 47-9-615 Application of proceeds of disposition – Liability for deficiency and right to surplus
§ 47-9-616 Explanation of calculation of surplus or deficiency
§ 47-9-617 Rights of transferee of collateral
§ 47-9-618 Rights and duties of certain secondary obligors
§ 47-9-619 Transfer of record or legal title
§ 47-9-620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
§ 47-9-621 Notification of proposal to accept collateral
§ 47-9-622 Effect of acceptance of collateral
§ 47-9-623 Right to redeem collateral
§ 47-9-624 Waiver
§ 47-9-625 Remedies for secured party’s failure to comply with chapter
§ 47-9-626 Action in which deficiency or surplus is in issue
§ 47-9-627 Determination of whether conduct was commercially reasonable
§ 47-9-628 Nonliability and limitation on liability of secured party – Liability of secondary obligor
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Terms Used In Tennessee Code > Title 47 > Chapter 9 > Part 6 - Default

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minor: means any person who has not attained eighteen (18) years of age. See Tennessee Code 1-3-105
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See Tennessee Code 1-3-105
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: include lands, tenements and hereditaments, and all rights thereto and interests therein, equitable as well as legal. See Tennessee Code 1-3-105
  • Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in a perceivable form. See Tennessee Code 1-3-105
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Statute: A law passed by a legislature.
  • written: includes printing, typewriting, engraving, lithography, and any other mode of representing words and letters. See Tennessee Code 1-3-105