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© 2013
Gary E. Cooke II

 

 

   
. Secured Transactions  

 

 

   

When a lender loans money to a business, a supplier provides goods on credit or a manufacturer sells a major piece of equipment for the business' use, all of these situations give rise to the potential need for collateral. In many transactions this collateral takes the form of a filing with the Secretary of State and/or with the County Recorder of Deeds showing the ownership interest of the lender or seller.

The question that both sides of the transaction ask themselves is: Is the collateral sufficient or is it too much? The lender/seller, of course, wants the security documents to be as broad and far reaching as possible and they want to have as few creditors a head of them as possible. It is usually in the best interests of the borrower/buyer to have the security documents limited in scope and flexible.

Mr. Cooke has worked with retailers in lines of credit and secured transactions dealings and negotiated and evaluated security agreements, loan agreements and Uniform Commercial Code filings.

If you have questions about Secured Transactions, you can contact Mr. Cooke directly at (312) 497-9002 or by email at "gc@Cookeslaw.com".

Mr. Cooke's fee is $300.00 per hour.

 

 

 
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