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In order for a security interest to attach to the collateral in the possession of subsequent purchasers, it must be perfected. If the security agreement is for a purchase money security interest in consumer goods, perfection is automatic. Otherwise, the lender must record either the agreement itself, or a UCC-1 financing statement, in an ...
A union security agreement is a contractual agreement, usually part of a union collective bargaining agreement, in which an employer and a trade or labor union agree on the extent to which the union may compel employees to join the union, and/or whether the employer will collect dues, fees, and assessments on behalf of the union.
An agency shop is a form of union security agreement where the employer may hire union or non-union workers, and employees need not join the union in order to remain employed. [1] However, the non-union worker must pay a fee to cover collective bargaining costs. [1] The fee paid by non-union members under the agency shop is known as the "agency ...
A security interest becomes enforceable against the collateral as soon as it attaches. Attachment requires three things: (i) that the debtor have rights in the collateral or the power to convey rights; (ii) that value be given; and (iii) in most cases, that the debtor have authenticated a security agreement that adequately describes the collateral.
(Corrects to say 10-year not 20-year in paragraph 1, adds "other" in paragraph 2) (Reuters) -Ukraine and Japan on Thursday signed a 10-year security agreement on the sidelines of the G7 summit ...
BORGO EGNAZIA, Italy (Reuters) -U.S. President Joe Biden and Ukraine President Volodymyr Zelenskiy signed a 10-year bilateral security agreement on Thursday aimed at bolstering Ukraine's defense ...
A secured transaction includes several forms of collateral. The definition of collateral in the U.C.C. is: the property subject to a security interest or agricultural lien. The term includes: (A) proceeds to which a security interest attaches; (B) accounts, chattel paper, payment intangibles, and promissory notes that have been sold; and
The Biden administration is close to finalizing a treaty with Saudi Arabia that would commit the U.S. to help defend the Gulf nation as part of a deal aimed at encouraging diplomatic ties between ...
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