Examlex
Article 2 of the UCC does NOT apply to a sale of:
Accounts Receivable Financing
A type of financing arrangement wherein a business uses its outstanding invoices as collateral to receive immediate funds from a lender.
Secured Short-Term Loan
A loan that is backed by collateral and has a maturity period of one year or less.
Assignment
The transfer of rights, property, or responsibilities from one party to another.
Factoring Of Receivables
The sale of a business's accounts receivable to a third party, at a discount, for immediate cash.
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