Basic Uniform Commercial Code
Cash Proceeds
"Cash proceeds" means money, checks, deposit accounts, getting named on an insurance policy, or the like. UCC § 9-102(a)(9).
A promissory note is not cash proceeds.
"Cash proceeds" means money, checks, deposit accounts, getting named on an insurance policy, or the like. UCC § 9-102(a)(9).
A promissory note is not cash proceeds.