Type of Security Interest: Regular or PMSI
This page includes a writing template for analyzing this topic and usage notes to guide its application. In general, the template is designed to serve as a starting point for your analysis. It should be adapted to fit the specific facts of your case and your professor’s preferences.
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Note: If the security agreement consists of (1) a debtor’s existing collateral securing either (a) an existing obligation to a creditor or (b) new value from a creditor (e.g., a loan or credit), upon attachment the parties create a regular security interest (SI) to the collateral.
If the security agreement consists of (2) a debtor purchasing collateral with new value from a creditor, upon attachment the parties will create a purchase money security interest (PMSI) in the collateral.
Writing Template
Issue
I: The issue is whether the parties created a purchase money security interest (PMSI).
Analysis
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Conclusion
C: Therefore, the parties [intended/did not intend] to create a PMSI.
Usage Notes
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