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Home / News / Credit Card Slips Are Not Instruments Under UCC (access required)

Credit Card Slips Are Not Instruments Under UCC (access required)

In a case of first impression, the U.S. Middle District has ruled that filing a UCC financing statement protected a bank group's interest in $1 million of credit card receivables. Attorneys in the case say the ruling illustrates a maxim for protecting a client's security interests: knowing commercial practice is as important as knowing commercial ...

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