Secured Party Not Obligated on Contract of Debtor or in Tort

  1. Law
  2. New York Laws
  3. Uniform Commercial Code
  4. Rights of Third Parties
  5. Secured Party Not Obligated on Contract of Debtor or in Tort

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Section 9--402. Secured Party Not Obligated on Contract of Debtor or in

Tort.

The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.



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