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Personal Property

Personal Property, also called “movable property,” “personalty,” “movables,” or “chattels,” include virtually any form of property other than real estate. Some examples of personal property include cars, jewelry, and small businesses. Personal property is movable property and goods, as distinguished from real property, which is fixed and immovable. Moreover, real property must often be transferred by a written contract, and the associated deed is often recorded. Click here for information on the Uniform Commercial Code Article 2A (UCC) and how it relates to personal property leasing, and ways your state's lemon laws can help you. Read more about these and other subjects under Business Operations.

Personal Property Articles

  • Pre-Funding Woes

    Clients have reported increasing pressure from vendors to pre-fund transactions. In some instances, this constitutes a requirement by the vendor that transactions be funded when equipment is shipped, rather than when it is accepted. In other cases ...

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  • Back From the Brink The Art Of Corporate Restructuring

    If, as once noted, bankruptcy is as necessary to capitalism as Hell is to Christianity, then financially troubled Canadian corporations desperate for a second chance now have the option of the legal equivalent of Purgatory. And, as stock markets ...

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  • Making Peace with Man's Best Friend: Sinking your teeth into the Michigan DOG BITE Statute

    THE CANINE EXPLOSION Look around. Our little pets are everywhere! Recent statistics report over 60 million dogs (and counting) in the United States alone! 1. They sit in our cars, run in our yards and even sleep in our beds. Disney has made billions ...

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  • UCC Article 2A: Friend or Foe?

    Uniform Commercial Code Article 2A is a proposed set of laws relating to personal property leasing. As of this writing, Article 2A has been adopted in 47 states and the District of Columbia (excluding only Louisiana, South Carolina and Vermont ...

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  • Look Before You Lease: Upgrade Rights

    A reader has asked us to go over upgrade rights, one of the most difficult provisions for lessees to negotiate. For years, lessees of various types of equipment, especially computer and other high technology equipment, have requested that each of ...

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  • How Lemon Law Can Help You

    Article provided by Aiken & Scoptur, S.C. Please visit our Web site at Aiken & Scoptur, S.C. Special acknowledgement to attorney Vincent P. Megna. When your new car does not work as it should, you expect the automaker to step in and make it right ...

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  • Asset Protection: Understanding the Fundamentals

    Do you ever worry about becoming the victim of a groundless lawsuit? If so, you're not alone. Lately, society has seen a plague of lawsuits by predatory plaintiffs misusing the courts by filing suits as a kind of legal extortion. As a result, these ...

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  • Equine Law: Put It into Writing

    If there is one piece of advice that is desperately needed in the horse industry, it is that whatever the transaction or whatever the agreement, put it into writing. Although it may appear more "friendly" or less antagonistic to rely on a handshake ...

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  • Unconscionability in a Commercial Setting

    Imaging Financial Services, Inc. v. Graphic Arts Services, Inc., 172 F.R.D. 322 (N.D.Ill. 3/28/97). UNCONSCIONABILITY - Graphics Arts leased various pieces of equipment from Imaging. The obligation to pay was unconditional and there were the usual ...

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  • Liquidated Damages/Foreclosure Sale

    Costal Leasing Corporation v. T-Bar S Corporation, 128 N.C. App. 379 496 S. E. 2d 795 (1998). LIQUIDATED DAMAGES/FORECLOSURE SALE. The North Carolina court upheld the liquidated damages clause under pre-UCC Article 2A law but reached the unusual ...

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