Legal Question in Credit and Debt Law in New York
Security Interest
How does a company retain a security interest in a product that was shipped out but not entirely paid for?
Asked on 10/19/07, 10:53 am
1 Answer from Attorneys
Meldon Ellis
Ellis Business Lawyers
Re: Security Interest
In general, you would have needed to create a security interest by entering into a security agreement with the purchaser(or taking some other security such as a guarantee). If you did this, then you can take steps to enforce your security.
Answered on 10/19/07, 9:12 pm
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