Consignment Rules Of Article 9 Doom Consignor Who Fails To File

LexisNexis (April 18, 2019, 9:04 AM EDT) -- Under pre-UCC law, a consignor of goods was generally not required to record its interest to protect itself against third parties dealing with the consignee. This was true even though the consignor retained a kind of secret lien in the sense that the consignee was clothed with apparent ownership of the goods on hand when they really belonged to another. Under the UCC, however, the duty of filing a financing statement is clearly imposed on the consignor....