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Can you summarize 8.9A VACV Part 6?
Commercial Code Secured Transactions >
Short Summary
The provided legal document content pertains to the default and enforcement of security interest in secured transactions. It covers various aspects such as waiver of disposition notification, waiver of mandatory disposition, waiver of redemption right, redemption of collateral, acceptance of collateral in satisfaction of obligation, notification of disposition of collateral, application of proceeds of disposition, rights and duties of secondary obligor, collection and enforcement actions, application of proceeds of collection or enforcement, calculation of surplus or deficiency, default in connection with an agricultural lien, rights and duties of debtors, obligors, and secured parties, agreed standards, notification of disposition, effects of disposition, possession and rendering equipment unusable, and notification requirements. These documents apply to debtors, secondary obligors, secured parties, lienholders, transferees, account debtors, persons obligated on collateral, purchasers of collateral, and other parties involved in secured transactions. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Debtors, secondary obligors, secured parties, lienholders, transferees, account debtors, persons obligated on collateral, purchasers of collateral, and other parties involved in secured transactions
What does it govern?
Default and enforcement of security interest in secured transactions
What are exemptions?
No specific exemptions are mentioned in these documents
What are the Penalties?
No specific penalties are mentioned in these documents
Jurisdiction
Virginia