The PEB Comments—Proceeds and Possession!

Barbara Goodstein and Adam Wolk expound on the recently issued Commentaries No. 31 and 32 by the Permanent Editorial Board for the Uniform Commercial Code, clarifying that "proceeds" under UCC Article 9 are defined by the origin of the property rather than as a separate collateral type, and that a buyer must have actual possession of goods to qualify as a "buyer in the ordinary course of business."

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