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0 tracked cards Supplemental - Not MEE July 2026

A debtor orally agrees to pledge a negotiable promissory note as collateral, and the secured party takes possession of the note. The secured party gave value and the debtor owns the note.
What is the effect of possession on Article 9 attachment?

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Possession matters only after bankruptcy is filed. Possession of qualifying collateral pursuant to the debtor's security agreement can satisfy the evidentiary requirement, but value and debtor rights are still required. Possession never helps attachment because only a signed writing can satisfy Article 9. Possession is relevant only to real property mortgages.

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