Article 9 of the UCC does not define what constitutes default.

Name: Article 9 of the UCC does not define what constitutes default.
Brand: Quizplus
Rating: 4.9 (53 reviews)

Question

Quizplus · Accepted Answer

Article 9 of the UCC does not provide a specific definition of default. It is generally understood to mean a breach or failure to perform under the terms of a secured transaction. The specific events that constitute a default depend on the terms of the security agreement and applicable law.

Article 9 of the UCC Does Not Define What Constitutes