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0 tracked cards Supplemental - Not MEE July 2026

A business debtor signs a security agreement granting a security interest in "equipment." The agreement does not list serial numbers. In another loan, the same debtor signs a security agreement granting a security interest in "all assets."
Which statement best describes the collateral descriptions?

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A collateral description by Article 9 type is never sufficient. A description by collateral type such as equipment can reasonably identify commercial collateral, but a supergeneric description such as all assets is not enough in a security agreement. A description is sufficient only if it lists every serial number. Collateral descriptions are unnecessary if the debtor is a corporation.

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