We're finishing up
Secured Transactions: Priority with the second and final part today.
This module is all about
the buyers. Let's get excited.
You can find it in the free
MEE Course.
Pretty simple. General partnerships are dangerous for this reason.
Pretty simple. General partnerships are dangerous for this reason.
You'll learn:
- The general rule: buyers take subject to security interests
- The huge exceptions: BIOCOB and garage sale buyers
- Why buyers in the ordinary course of business get god-tier immunity
- How a garage sale buyer can magically destroy a perfected lien
- What it means for a buyer to “not know” they’re violating a security interest (even if it’s super obvious)
- And why inventory lenders are constantly screaming into the void
You’ll also see why timing is everything: lien creditors, PMSIs, BIOCOBs, and general buyers all battle it out in a rules-based bloodbath, and if you don’t know who wins, you lose.
Let's hit it hard and take these essays down.
