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Financing Statement
A document filed to give public notice of a security interest in personal property, thereby protecting the interests of secured creditors.
Consumer Goods
Products that are purchased for consumption by the average consumer, including items such as food, clothing, and household products.
Buyer in the Ordinary Course of Business
A legal term describing a person who purchases goods in good faith within the usual and customary practices of a particular trade or business.
Bona Fide Purchaser
A Bona Fide Purchaser is someone who buys property in good faith, without notice of any other party's claim to the property or any defects in the title.
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