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Can you summarize NHRS 382-A:9-108?
UNIFORM COMMERCIAL CODE > Sufficiency of Description.
Short Summary
This legal document, part of the New Hampshire Revised Statutes, specifically Chapter 382-A, which pertains to the Uniform Commercial Code, addresses the sufficiency of description for personal or real property in commercial transactions. According to this document, a description of property is considered sufficient if it reasonably identifies what is described, unless otherwise specified in subsections (c), (d), and (e). The document provides examples of reasonable identification, such as specific listing, category, type of collateral defined in this chapter, quantity, computational or allocational formula or procedure, or any other method that objectively determines the identity of the collateral. However, supergeneric descriptions like ‘all the debtor’s assets’ or ‘all the debtor’s personal property’ are not considered sufficient. Additionally, specific rules are provided for investment property and cases where description by type is insufficient. This document applies to all parties involved in commercial transactions in New Hampshire, unless exempted by the mentioned subsections. No specific penalties are mentioned in this document.
Whom does it apply to?
All parties involved in commercial transactions in New Hampshire
What does it govern?
Sufficiency of Description
What are exemptions?
Exceptions are provided in subsections (c), (d), and (e)
What are the Penalties?
No penalties mentioned
Jurisdiction
New Hampshire