Legal Question in Business Law in Wisconsin
Purchase money security interest
If you receive a purchase order and all other details about an order via email, can a purchase money security interest be granted via email and be perfected by filling a ucc1 in the specified time or must the purchase money security interest be granted in writing and mailed?
1 Answer from Attorneys
Re: Purchase money security interest
In my opinion an exchange of emails is not enough. If that was all there was and we were going to court, I would try to argue that it was enough. It's sure better than nothing. But if I were you I'd get it in writing - a hard copy.
Depending on what kind of deal you have, the urgency, the trust level and other factors only you could know, I might settle for a faxed security agreement to be followed by a hard copy in the mail.
Good luck.
This response is for general information purposes only and does not create an attorney-client relationship. You are advised to consult the attorney of your choice concerning the details of your case.
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