Business law Essay Example | Topics and Well Written Essays - 250 words - 9

Business law - Essay Example This security can be regarded as enforceable if the value has been given and the debtor has authenticated a security agreement that offers a description of the collateral which is a car. The collateral is a certified security and the security certificate is in the possession of the secured party who is this case is Frank under the RCW 62A.8-301 pursuant to the debtors security agreement. The enforceable security interest is a security agreement that becomes effective in order to create a security interest in the person’s property which is Edie’s car in this case. Frank can make other creditors of Edie know that he has interest in the car through the security agreement that he signs between him and Edie. The† security agreement† between the debtor and the secured party is defined under the U.C.C 9-102(a) (73). Which stipulates that further reference both to the definition of â€Å"security interest† and to the definition of the â€Å" agreement†. Drafter require additional evidence of the existence of a security agreement as a condition to it