(a) Consignee has consignor’s rights. Except as otherwise provided in subsection (b), for purposes of determining the rights of creditors of, and purchasers for value of goods from, a consignee, while the goods are in the possession of the consignee, the consignee is deemed to have rights and title to the goods identical to those the consignor had or had power to transfer. (b) Applicability of other law. For purposes of determining the rights of a creditor of a consignee, law other than this article determines the rights and title of a consignee while goods are in the consignee’s possession if, under this part, a perfected security interest held by the consignor would have priority over the rights of the creditor.

This legal document pertains to the provisions of the Uniform Commercial Code related to buyers of goods. It outlines the rights of different types of buyers in various circumstances. A buyer in ordinary course of business, other than a person buying farm products from a person engaged in farming operations, takes free of a security interest created by the buyer’s seller, even if the security interest is perfected and the buyer knows of its existence.

This section of the Minnesota Statutes, under the Trade Regulations and Consumer Protection section, pertains to the rights of a licensee in the ordinary course of business and a lessee in the ordinary course of business. A licensee in the ordinary course is defined as a person who becomes a licensee of a general intangible in good faith, without knowledge that the license violates the rights of another person in the general intangible, and in the ordinary course from a person in the business of licensing general intangibles of that kind.

This legal document, part of the Minnesota Statutes’ Uniform Commercial Code, establishes the rules for determining priority among conflicting security interests and agricultural liens on the same collateral. The general priority rules state that conflicting perfected security interests and agricultural liens rank according to the time of filing or perfection. A perfected security interest or agricultural lien takes priority over a conflicting unperfected security interest or agricultural lien. The first security interest or agricultural lien to attach or become effective has priority if conflicting security interests and agricultural liens are unperfected.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, addresses the priority of perfected security interests, subordination to lien creditors, and priority of buyers and lessees of goods. It states that the perfection of a security interest dates from the time an advance is made, provided certain conditions are met. A security interest is subordinate to the rights of a person who becomes a lien creditor, unless the advance is made without knowledge of the lien or pursuant to a commitment entered into without knowledge of the lien.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, establishes the priority of purchase-money security interests in various types of goods. A purchase-money security interest refers to a security interest taken by a seller or lender to secure the purchase price or loan used to acquire the collateral. The document outlines the general rule that a perfected purchase-money security interest in goods, other than inventory or livestock, has priority over a conflicting security interest in the same goods.

(a) Subordination of security interest in transferred collateral. Except as otherwise provided in subsection (b), a security interest created by a debtor is subordinate to a security interest in the same collateral created by another person if: (1) the debtor acquired the collateral subject to the security interest created by the other person; (2) the security interest created by the other person was perfected when the debtor acquired the collateral; and (3) there is no period thereafter when the security interest is unperfected.

This legal document, part of the Minnesota Statutes under the Uniform Commercial Code, addresses the priority of security interests created by a new debtor. It states that a security interest created by a new debtor in collateral, which is perfected solely by a filed financing statement that would be ineffective to perfect the security interest without the application of specific sections, is subordinate to a security interest in the same collateral that is perfected through means other than a filed financing statement.

The following rules govern priority among conflicting security interests in the same deposit account: (1) A security interest held by a secured party having control of the deposit account under section 336.9-104 has priority over a conflicting security interest held by a secured party that does not have control. (2) Except as otherwise provided in paragraphs (3) and (4), security interests perfected by control under section 336.9-314 rank according to priority in time of obtaining control.

This legal document governs the priority of security interests in investment property. It applies to secured parties with conflicting security interests in investment property. The document establishes rules for determining the priority of security interests based on control of the investment property and the type of collateral involved. It specifies that a security interest held by a secured party with control of the investment property has priority over a security interest held by a secured party without control.