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Arizona Law Arizona Revised Statutes Title 47Arizona Revised Statutes Title 47
Uniform Commercial Code
| Chapter 1 | GENERAL PROVISIONS |
| Article 1 | Short Title, Construction, Application, and Subject Matter of the Title |
| 47-1101 | Short title |
| 47-1102 | Purposes; rules of construction; variation by agreement |
| 47-1103 | Supplementary general principles of law applicable |
| 47-1104 | Construction against implicit repeal |
| 47-1105 | Territorial application of the title; parties' power to choose applicable law |
| 47-1106 | Remedies to be liberally administered |
| 47-1107 | Waiver or renunciation of claim or right after breach |
| 47-1108 | Section captions |
| Article 2 | General Definitions and Principles of Interpretation |
| 47-1201 | General definitions |
| 47-1202 | Prima facie evidence by third party documents |
| 47-1203 | Obligation of good faith |
| 47-1204 | Time; reasonable time; "seasonably" |
| 47-1205 | Course of dealing and usage of trade |
| 47-1206 | Statute of frauds for kinds of personal property not otherwise covered |
| 47-1207 | Performance or acceptance under reservation of rights |
| 47-1208 | Option to accelerate at will |
| 47-1209 | Subordinated obligations |
| Chapter 2 | SALES |
| Article 1 | Short Title, General Construction and Subject Matter |
| 47-2101 | Short title |
| 47-2102 | Scope; certain security and other transactions excluded from this chapter |
| 47-2103 | Definitions and index of definitions |
| 47-2104 | Definitions: "merchant"; "between merchants"; "financing agency" |
| 47-2105 | Definitions: transferability; "goods"; "future" goods; "lot"; "commercial unit" |
| 47-2106 | Definitions: "contract"; "agreement"; "contract for sale"; "sale"; "present sale"; "conforming" to contract; "termination"; "cancellation" |
| 47-2107 | Goods to be severed from realty; recording |
| Article 2 | Form, Formation and Readjustment of Contract |
| 47-2201 | Formal requirements; statute of frauds |
| 47-2202 | Final written expression: parol or extrinsic evidence |
| 47-2203 | Seals inoperative |
| 47-2204 | Formation in general |
| 47-2205 | Firm offers |
| 47-2206 | Offer and acceptance in formation of contract |
| 47-2207 | Additional terms in acceptance or confirmation |
| 47-2208 | Course of performance or practical construction |
| 47-2209 | Modification, rescission and waiver |
| 47-2210 | Delegation of performance; assignment of rights |
| Article 3 | General Obligation and Construction of Contract |
| 47-2301 | General obligations of parties |
| 47-2302 | Unconscionable contract or clause |
| 47-2303 | Allocation or division of risks |
| 47-2304 | Price payable in money, goods, realty, or otherwise |
| 47-2305 | Open price term |
| 47-2306 | Output, requirements and exclusive dealings |
| 47-2307 | Delivery in single lot or several lots |
| 47-2308 | Absence of specified place for delivery |
| 47-2309 | Absence of specific time provisions; notice of termination |
| 47-2310 | Open time for payment or running of credit; authority to ship under reservation |
| 47-2311 | Options and cooperation respecting performance |
| 47-2312 | Warranty of title and against infringement; buyer's obligation against infringement |
| 47-2313 | Express warranties by affirmation, promise, description, sample |
| 47-2314 | Implied warranty: merchantability; usage of trade |
| 47-2315 | Implied warranty: fitness for particular purpose |
| 47-2316 | Exclusion or modification of warranties |
| 47-2317 | Cumulation and conflict of warranties express or implied |
| 47-2318 | Third party beneficiaries of warranties express or implied |
| 47-2319 | F.O.B. and F.A.S. terms |
| 47-2320 | C.I.F. and C. & F. terms |
| 47-2321 | C.I.F. or C. & F.: "net landed weights"; "payment on arrival"; warranty of condition on arrival |
| 47-2322 | Delivery "ex-ship" |
| 47-2323 | Form of bill of lading required in overseas shipment; "overseas" |
| 47-2324 | "No arrival, no sale" term |
| 47-2325 | "Letter of credit" term; "confirmed credit" |
| 47-2326 | Sale on approval and sale or return; rights of creditors |
| 47-2327 | Special incidents of sale on approval and sale or return |
| 47-2328 | Sale by auction |
| Article 4 | Title, Creditors and Good Faith Purchases |
| 47-2401 | Passing of title; reservation for security; limited application of this section |
| 47-2402 | Rights of seller's creditors against sold goods |
| 47-2403 | Power to transfer; good faith purchase of goods; "entrusting" |
| Article 5 | Performance |
| 47-2501 | Insurable interest in goods; manner of identification of goods |
| 47-2502 | Buyer's right to goods on seller's insolvency |
| 47-2503 | Manner of seller's tender of delivery |
| 47-2504 | Shipment by seller |
| 47-2505 | Seller's shipment under reservation |
| 47-2506 | Rights of financing agency |
| 47-2507 | Effect of seller's tender; delivery on condition |
| 47-2508 | Cure by seller of improper tender or delivery; replacement |
| 47-2509 | Risk of loss in the absence of breach |
| 47-2510 | Effect of breach on risk of loss |
| 47-2511 | Tender of payment by buyer; payment by check |
| 47-2512 | Payment by buyer before inspection |
| 47-2513 | Buyer's right to inspection of goods |
| 47-2514 | When documents deliverable on acceptance; when on payment |
| 47-2515 | Preserving evidence of goods in dispute |
| Article 6 | Breach, Repudiation and Excuse |
| 47-2601 | Buyer's rights on improper delivery |
| 47-2602 | Manner and effect of rightful rejection |
| 47-2603 | Merchant buyer's duties as to rightfully rejected goods |
| 47-2604 | Buyer's options as to salvage of rightfully rejected goods |
| 47-2605 | Waiver of buyer's objections by failure to particularize |
| 47-2606 | What constitutes acceptance of goods |
| 47-2607 | Effect of acceptance; notice of breach; burden of establishing breach after acceptance; notice of claim or litigation to person answerable over |
| 47-2608 | Revocation of acceptance in whole or in part |
| 47-2609 | Right to adequate assurance of performance |
| 47-2610 | Anticipatory repudiation |
| 47-2611 | Retraction of anticipatory repudiation |
| 47-2612 | "Installment contract"; breach |
| 47-2613 | Casualty to identified goods |
| 47-2614 | Substituted performance |
| 47-2615 | Excuse by failure of presupposed conditions |
| 47-2616 | Procedure on notice claiming excuse |
| Article 7 | Remedies |
| 47-2701 | Remedies for breach of collateral contracts not impaired |
| 47-2702 | Seller's remedies on discovery of buyer's insolvency |
| 47-2703 | Seller's remedies in general |
| 47-2704 | Seller's right to identify goods to the contract notwithstanding breach or to salvage unfinished goods |
| 47-2705 | Seller's stoppage of delivery in transit or otherwise |
| 47-2706 | Seller's resale including contract for resale |
| 47-2707 | "Person in the position of a seller" |
| 47-2708 | Seller's damages for non-acceptance or repudiation |
| 47-2709 | Action for the price |
| 47-2710 | Seller's incidental damages |
| 47-2711 | Buyer's remedies in general; buyer's security interest in rejected goods |
| 47-2712 | "Cover"; buyer's procurement of substitute goods |
| 47-2713 | Buyer's damages for non-delivery or repudiation |
| 47-2714 | Buyer's damages for breach in regard to accepted goods |
| 47-2715 | Buyer's incidental and consequential damages |
| 47-2716 | Buyer's right to specific performance or replevin |
| 47-2717 | Deduction of damages from the price |
| 47-2718 | Liquidation or limitation of damages; deposits |
| 47-2719 | Contractual modification or limitation of remedy |
| 47-2720 | Effect of "cancellation" or "rescission" on claims for antecedent breach |
| 47-2721 | Remedies for fraud |
| 47-2722 | Who can sue third parties for injury to goods |
| 47-2723 | Proof of market price: time and place |
| 47-2724 | Admissibility of market quotations |
| 47-2725 | Statute of limitations in contracts for sale |
| Chapter 3 | NEGOTIABLE INSTRUMENTS |
| Article 1 | General Provisions and Definitions |
| 47-3101 | Short title |
| 47-3102 | Subject matter |
| 47-3103 | Definitions |
| 47-3104 | Negotiable instrument |
| 47-3105 | Issue of instrument |
| 47-3106 | Unconditional promise or order |
| 47-3107 | Instrument payable in foreign money |
| 47-3108 | Payable on demand or at definite time |
| 47-3109 | Payable to bearer or to order |
| 47-3110 | Identification of person to whom instrument is payable |
| 47-3111 | Place of payment |
| 47-3112 | Interest |
| 47-3113 | Date of instrument |
| 47-3114 | Contradictory terms of instrument |
| 47-3115 | Incomplete instrument |
| 47-3116 | Joint and several liability; contribution |
| 47-3117 | Other agreements affecting instrument |
| 47-3118 | Statute of limitations |
| 47-3119 | Notice of right to defend action |
| Article 2 | Negotiation, Transfer and Indorsement |
| 47-3201 | Negotiation |
| 47-3202 | Negotiation subject to rescission |
| 47-3203 | Transfer of instrument; rights acquired by transfer |
| 47-3204 | Indorsement |
| 47-3205 | Special indorsement; blank indorsement; anomalous indorsement |
| 47-3206 | Restrictive indorsement |
| 47-3207 | Reacquisition |
| Article 3 | Enforcement of Instruments |
| 47-3301 | Person entitled to enforce instrument |
| 47-3302 | Holder in due course |
| 47-3303 | Value and consideration |
| 47-3304 | Overdue instrument |
| 47-3305 | Defenses and claims in recoupment |
| 47-3306 | Claims to an instrument |
| 47-3307 | Notice of breach of fiduciary duty |
| 47-3308 | Proof of signatures and status as holder in due course |
| 47-3309 | Enforcement of lost, destroyed or stolen instrument |
| 47-3310 | Effect of instrument on obligation for which taken |
| 47-3311 | Accord and satisfaction by use of instrument |
| Article 4 | Liability of Parties |
| 47-3401 | Signature |
| 47-3402 | Signature by representative |
| 47-3403 | Unauthorized signature |
| 47-3404 | Impostors; fictitious payees |
| 47-3405 | Employer's responsibility for fraudulent indorsement by employee |
| 47-3406 | Negligence contributing to forged signature or alteration of instrument |
| 47-3407 | Alteration |
| 47-3408 | Drawee not liable on unaccepted draft |
| 47-3409 | Acceptance of draft; certified check |
| 47-3410 | Acceptance varying draft |
| 47-3411 | Refusal to pay cashier's checks, teller's checks and certified checks |
| 47-3412 | Obligation of issuer of note or cashier's check |
| 47-3413 | Obligation of acceptor |
| 47-3414 | Obligation of drawer |
| 47-3415 | Obligation of indorser |
| 47-3416 | Transfer warranties |
| 47-3417 | Presentment warranties |
| 47-3418 | Payment or acceptance by mistake |
| 47-3419 | Instruments signed for accommodation |
| 47-3420 | Conversion of instrument |
| Article 5 | Dishonor |
| 47-3501 | Presentment |
| 47-3502 | Dishonor |
| 47-3503 | Notice of dishonor |
| 47-3504 | Excused presentment and notice of dishonor |
| 47-3505 | Evidence of dishonor |
| Article 6 | Discharge and Payment |
| 47-3601 | Discharge and effect of discharge |
| 47-3602 | Payment |
| 47-3603 | Tender of payment |
| 47-3604 | Discharge by cancellation or renunciation |
| 47-3605 | Discharge of indorsers and accommodation parties |
| Chapter 4 | BANK DEPOSITS AND COLLECTIONS |
| Article 1 | General Provisions and Definitions |
| 47-4101 | Short title |
| 47-4102 | Applicability |
| 47-4103 | Variation by agreement; measure of damages; action constituting ordinary care |
| 47-4104 | Definitions and index of definitions |
| 47-4105 | "Bank"; "depositary bank"; "payor bank"; "intermediary bank"; "collecting bank"; "presenting bank" |
| 47-4106 | Payable through or payable at bank; collecting bank |
| 47-4107 | Separate office of bank |
| 47-4108 | Time of receipt of items |
| 47-4109 | Delays |
| 47-4110 | Electronic presentment |
| 47-4111 | Statute of limitations |
| Article 2 | Collection of Items; Depositary and Collecting Banks |
| 47-4201 | Status of collecting bank as agent and provisional status of credits; applicability of chapter; item indorsed "pay any bank" |
| 47-4202 | Responsibility for collection or return; when action timely |
| 47-4203 | Effect of instructions |
| 47-4204 | Methods of sending and presenting; sending directly to payor bank |
| 47-4205 | Depositary bank holder of unindorsed item |
| 47-4206 | Transfer between banks |
| 47-4207 | Transfer warranties |
| 47-4208 | Presentment warranties |
| 47-4209 | Encoding and retention warranties |
| 47-4210 | Security interest of collecting bank in items, accompanying documents and proceeds |
| 47-4211 | When bank gives value for purposes of holder in due course |
| 47-4212 | Presentment by notice of item not payable by, through or at a bank; liability of drawer or indorser |
| 47-4213 | Medium and time of settlement by bank |
| 47-4214 | Right of charge-back or refund; liability of collecting bank; return of item |
| 47-4215 | Final payment of item by payor bank; when provisional debits and credits become final; when certain credits become available for withdrawal |
| 47-4216 | Insolvency and preference |
| Article 3 | Collection of Items; Payor Banks |
| 47-4301 | Deferred posting; recovery of payment by return of items; time of dishonor; return of items by payor bank |
| 47-4302 | Payor bank's responsibility for late return of item |
| 47-4303 | When items subject to notice, stop-payment order, legal process or setoff; order in which items may be charged or certified |
| Article 4 | Relationship Between Payor Bank and Its Customer |
| 47-4401 | When bank may charge customer's account |
| 47-4402 | Bank's liability to customer for wrongful dishonor; time of determining insufficiency of amount |
| 47-4403 | Customer's right to stop payment; burden of proof of loss |
| 47-4404 | Bank not obligated to pay check more than six months old |
| 47-4405 | Death or incompetence of customer |
| 47-4406 | Customer's duty to discover and report unauthorized signature or alteration |
| 47-4407 | Payor bank's right to subrogation on improper payment |
| Article 5 | Collection of Documentary Drafts |
| 47-4501 | Handling of documentary drafts; duty to send for presentment and to notify customer of dishonor |
| 47-4502 | Presentment of "on arrival" drafts |
| 47-4503 | Responsibility of presenting bank for documents and goods; report of reasons for dishonor; referee in case of need |
| 47-4504 | Privilege of presenting bank to deal with goods; security interest for expenses |
| Chapter 5 | LETTERS OF CREDIT |
| 47-5101 | Short title |
| 47-5102 | Definitions |
| 47-5103 | Scope |
| 47-5104 | Formal requirements |
| 47-5105 | Consideration |
| 47-5106 | Issuance; amendment; cancellation; duration |
| 47-5107 | Confirmer; nominated person |
| 47-5108 | Issuer's rights and obligations |
| 47-5109 | Fraud and forgery |
| 47-5110 | Warranties |
| 47-5111 | Remedies |
| 47-5112 | Transfer of letter of credit |
| 47-5113 | Transfer by operation of law |
| 47-5114 | Assignment of proceeds |
| 47-5115 | Statute of limitations |
| 47-5116 | Choice of law and forum |
| 47-5117 | Subrogation of issuer, applicant and nominated person |
| 47-5118 | Security interest of issuer or nominated person |
| Chapter 7 | WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE |
| Article 1 | General |
| 47-7101 | Short title |
| 47-7102 | Definitions and index of definitions |
| 47-7103 | Relation of chapter to treaty, statute, tariff, classification or regulation |
| 47-7104 | Negotiable and non-negotiable warehouse receipt, bill of lading or other document of title |
| 47-7105 | Construction against negative implication |
| Article 2 | Warehouse Receipts; Special Provisions |
| 47-7201 | Who may issue a warehouse receipt; storage under government bond |
| 47-7202 | Form of warehouse receipt; essential terms; optional terms |
| 47-7203 | Liability for non-receipt or misdescription |
| 47-7204 | Duty of care; contractual limitation of warehouseman's liability |
| 47-7205 | Title under warehouse receipt defeated in certain cases |
| 47-7206 | Termination of storage at warehouseman's option |
| 47-7207 | Goods must be kept separate; fungible goods |
| 47-7208 | Altered warehouse receipts |
| 47-7209 | Lien of warehouseman |
| 47-7210 | Enforcement of warehouseman's lien |
| Article 3 | Bills of Lading; Special Provisions |
| 47-7301 | Liability for non-receipt or misdescription; "said to contain"; "shipper's load and count"; improper handling |
| 47-7302 | Through bills of lading and similar documents |
| 47-7303 | Diversion; reconsignment; change of instructions |
| 47-7304 | Bills of lading in a set |
| 47-7305 | Destination bills |
| 47-7306 | Altered bills of lading |
| 47-7307 | Lien of carrier |
| 47-7308 | Enforcement of carrier's lien |
| 47-7309 | Duty of care; contractual limitation of carrier's liability |
| Article 4 | Warehouse Receipts and Bills of Lading; General Obligations |
| 47-7401 | Irregularities in issue of receipt or bill or conduct of issuer |
| 47-7402 | Duplicate receipt or bill; overissue |
| 47-7403 | Obligation of warehouseman or carrier to deliver; excuse |
| 47-7404 | No liability for good faith delivery pursuant to receipt or bill |
| Article 5 | Warehouse Receipts and Bills of Lading; Negotiation and Transfer |
| 47-7501 | Form of negotiation and requirements of "due negotiation" |
| 47-7502 | Rights acquired by due negotiation |
| 47-7503 | Document of title to goods defeated in certain cases |
| 47-7504 | Rights acquired in the absence of due negotiation; effect of diversion; seller's stoppage of delivery |
| 47-7505 | Indorser not a guarantor for other parties |
| 47-7506 | Delivery without indorsement: right to compel indorsement |
| 47-7507 | Warranties on negotiation or transfer of receipt or bill |
| 47-7508 | Warranties of collecting bank as to documents |
| 47-7509 | Receipt or bill: when adequate compliance with commercial contract |
| Article 6 | Warehouse Receipts and Bills of Lading; Miscellaneous Provisions |
| 47-7601 | Lost and missing documents |
| 47-7602 | Attachment of goods covered by a negotiable document |
| 47-7603 | Conflicting claims; interpleader |
| Chapter 8 | INVESTMENT SECURITIES |
| Article 1 | Short Title and General Matters |
| 47-8101 | Short title |
| 47-8102 | Definitions |
| 47-8103 | Rules for determining whether certain obligations and interests as securities or financial assets |
| 47-8104 | Acquisition of security or financial asset or interest therein |
| 47-8105 | Notice of adverse claim |
| 47-8106 | Control |
| 47-8107 | Whether indorsement, instruction or entitlement order is effective |
| 47-8108 | Warranties in direct holding |
| 47-8109 | Warranties in indirect holding |
| 47-8110 | Applicability; choice of law |
| 47-8111 | Clearing corporation rules |
| 47-8112 | Creditor's legal process |
| 47-8113 | Statute of frauds inapplicable |
| 47-8114 | Evidentiary rules concerning certificated securities |
| 47-8115 | Securities intermediary and others not liable to adverse claimant |
| 47-8116 | Securities intermediary as purchaser for value |
| Article 2 | Issue and Issuer |
| 47-8201 | Issuer |
| 47-8202 | Issuer's responsibility and defenses; notice of defect or defense |
| 47-8203 | Staleness as notice of defect or defense |
| 47-8204 | Effect of issuer's restriction on transfer |
| 47-8205 | Effect of unauthorized signature on security certificate |
| 47-8206 | Completion or alteration of security certificate |
| 47-8207 | Rights and duties of issuer with respect to registered owners |
| 47-8208 | Effect of signature of authenticating trustee, registrar or transfer agent |
| 47-8209 | Issuer's lien |
| 47-8210 | Overissue |
| Article 3 | Transfer of Certificated and Uncertificated Securities |
| 47-8301 | Delivery |
| 47-8302 | Rights of purchaser |
| 47-8303 | Protected purchaser |
| 47-8304 | Indorsement |
| 47-8305 | Instruction |
| 47-8306 | Effect of guaranteeing signature, indorsement or instruction |
| 47-8307 | Purchaser's right to requisites for registration of transfer |
| Article 4 | Registration |
| 47-8401 | Duty of issuer to register transfer |
| 47-8402 | Assurance that indorsement or instruction is effective; definitions |
| 47-8403 | Demand that issuer not register transfer |
| 47-8404 | Wrongful registration |
| 47-8405 | Replacement of lost, destroyed or wrongfully taken security certificate |
| 47-8406 | Obligation to notify issuer of lost, destroyed or wrongfully taken security certificate |
| 47-8407 | Authenticating trustee, transfer agent and registrar |
| Article 5 | Security Entitlements |
| 47-8501 | Securities account; acquisition of security entitlement from securities intermediary |
| 47-8502 | Assertion of adverse claim against entitlement holder |
| 47-8503 | Property interest of entitlement holder in financial asset held by securities intermediary |
| 47-8504 | Duty of securities intermediary to maintain financial asset |
| 47-8505 | Duty of securities intermediary with respect to payments and distributions |
| 47-8506 | Duty of securities intermediary to exercise rights as directed by entitlement holder |
| 47-8507 | Duty of securities intermediary to comply with entitlement order |
| 47-8508 | Duty of securities intermediary to change entitlement holder's position to other form of security holding |
| 47-8509 | Specification of duties of securities intermediary by other statute or regulation; manner of performance of duties of securities intermediary and exercise of rights of entitlement holder |
| 47-8510 | Rights of purchaser of security entitlement from entitlement holder |
| 47-8511 | Priority among security interests and entitlement holders |
| Chapter 9 | SECURED TRANSACTIONS |
| Article 1 | General Provisions |
| 47-9101 | Short title |
| 47-9102 | Definitions and index of definitions |
| 47-9103 | Purchase money security interest; application of payments; burden of establishing |
| 47-9104 | Control of deposit account |
| 47-9105 | Control of electronic chattel paper |
| 47-9106 | Control of investment property |
| 47-9107 | Control of letter-of-credit right |
| 47-9108 | Sufficiency of description |
| 47-9109 | Scope |
| 47-9110 | Security interests arising under sales and leases |
| Article 2 | Effectiveness of Security Agreement, Attachment of Security Interest and Rights of Parties to Security Agreement |
| 47-9201 | General effectiveness of security agreement |
| 47-9202 | Title to collateral immaterial |
| 47-9203 | Attachment and enforceability of security interest; proceeds; supporting obligations; formal requisites |
| 47-9204 | After-acquired property; future advances |
| 47-9205 | Use or disposition of collateral permissible |
| 47-9206 | Security interest arising in purchase or delivery of financial asset |
| 47-9207 | Rights and duties of secured party having possession or control of collateral |
| 47-9208 | Additional duties of secured party having control of collateral |
| 47-9209 | Duties of secured party if account debtor has been notified of assignment |
| 47-9210 | Request for accounting; request regarding list of collateral or statement of account |
| Article 3 | Perfection and Priority |
| 47-9301 | Law governing perfection and priority of security interests |
| 47-9302 | Law governing perfection and priority of agricultural liens |
| 47-9303 | Law governing perfection and priority of security interests in goods covered by a certificate of title |
| 47-9304 | Law governing perfection and priority of security interests in deposit accounts |
| 47-9305 | Law governing perfection and priority of security interests in investment property |
| 47-9306 | Law governing perfection and priority of security interests in letter-of-credit rights |
| 47-9307 | Location of debtor |
| 47-9308 | When security interest or agricultural lien is perfected; continuity of perfection |
| 47-9309 | Security interest perfected on attachment |
| 47-9310 | When filing required to perfect security interest or agricultural lien; security interests and agricultural liens to which filing provisions do not apply |
| 47-9311 | Perfection of security interests in property subject to certain statutes, regulations and treaties |
| 47-9312 | Perfection of security interests in chattel paper, deposit accounts, documents, goods covered by documents, instruments, investment property, letter-of-credit rights and money; perfection by permissive filing; temporary perfection without filing or transfer of possession |
| 47-9313 | When possession by or delivery to secured party perfects security interest without filing |
| 47-9314 | Perfection by control |
| 47-9315 | Secured party's rights on disposition of collateral and in proceeds |
| 47-9316 | Continued perfection of security interest following change in governing law |
| 47-9317 | Interests that take priority over or take free of security interest or agricultural lien |
| 47-9318 | No interest retained in right to payment that is sold; rights and title of seller of account or chattel paper with respect to creditors and purchasers |
| 47-9319 | Rights and title of consignee with respect to creditors and purchasers |
| 47-9320 | Buyer of goods |
| 47-9321 | Licensee of general intangible and lessee of goods in ordinary course of business |
| 47-9322 | Priorities among conflicting security interests in and agricultural liens on same collateral |
| 47-9323 | Future advances |
| 47-9324 | Priority of purchase money security interests |
| 47-9325 | Priority of security interests in transferred collateral |
| 47-9326 | Priority of security interests created by new debtor |
| 47-9327 | Priority of security interests in deposit account |
| 47-9328 | Priority of security interests in investment property |
| 47-9329 | Priority of security interests in letter-of-credit right |
| 47-9330 | Priority of purchaser of chattel paper or instrument |
| 47-9331 | Priority of rights of purchasers of instruments, documents and securities under other chapters; priority of interests in financial assets and security entitlements under chapter 8 of this title |
| 47-9332 | Transfer of money; transfer of funds from deposit account |
| 47-9333 | Priority of certain liens arising by operation of law |
| 47-9334 | Priority of security interests in fixtures and crops |
| 47-9335 | Accessions |
| 47-9336 | Commingled goods |
| 47-9337 | Priority of security interests in goods covered by certificate of title |
| 47-9338 | Priority of security interest or agricultural lien perfected by filed financing statement providing certain incorrect information |
| 47-9339 | Priority subject to subordination |
| 47-9340 | Effectiveness of right of recoupment or setoff against deposit account |
| 47-9341 | Bank's rights and duties with respect to deposit account |
| 47-9342 | Bank's right to refuse to enter into or disclose existence of control agreement |
| Article 4 | Rights of Third Parties |
| 47-9401 | Alienability of debtor's rights |
| 47-9402 | Secured party not obligated on contract of debtor or in tort |
| 47-9403 | Agreement not to assert defenses against assignee |
| 47-9404 | Rights acquired by assignee; claims and defenses against assignee |
| 47-9405 | Modification of assigned contract |
| 47-9406 | Discharge of account debtor; notification of assignment; identification and proof of assignment; restrictions on assignment of accounts, chattel paper, payment intangibles and promissory notes ineffective |
| 47-9407 | Restrictions on creation or enforcement of security interest in leasehold interest or in lessor's residual interest |
| 47-9408 | Restrictions on assignment of promissory notes, health care insurance receivables and certain general intangibles ineffective |
| 47-9409 | Restrictions on assignment of letter of credit rights ineffective |
| Article 5 | Filing |
| 47-9501 | Filing office |
| 47-9502 | Contents of financing statement; record of mortgage as financing statement; time of filing financing statement |
| 47-9503 | Name of debtor and secured party |
| 47-9504 | Indication of collateral |
| 47-9505 | Filing and compliance with other statutes and treaties for consignments, leases, other bailments and other transactions |
| 47-9506 | Effect of errors or omissions |
| 47-9507 | Effect of certain events on effectiveness of financing statement |
| 47-9508 | Effectiveness of financing statement if new debtor becomes bound by security agreement |
| 47-9509 | Persons entitled to file a record |
| 47-9510 | Effectiveness of filed record |
| 47-9511 | Secured party of record |
| 47-9512 | Amendment of financing statement |
| 47-9513 | Termination statement |
| 47-9514 | Assignment of powers of secured party of record |
| 47-9515 | Duration and effectiveness of financing statement; effect of lapsed financing statement |
| 47-9516 | What constitutes filing; effectiveness of filing |
| 47-9517 | Effect of indexing errors |
| 47-9518 | Claim concerning inaccurate or wrongfully filed record |
| 47-9519 | Numbering, maintaining and indexing records; communicating information provided in records |
| 47-9520 | Acceptance and refusal to accept record |
| 47-9521 | Uniform form of written financing statement and amendment |
| 47-9522 | Maintenance and destruction of records |
| 47-9523 | Information from filing office; sale or license of records |
| 47-9524 | Delay by filing office |
| 47-9525 | Fees |
| 47-9526 | Filing office rules |
| 47-9527 | Unauthorized records; material misstatements; false claims; liability; special action; damages; violation; classification |
| 47-9528 | Nonconsensual lien |
| Article 6 | Default |
| 47-9601 | Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles or promissory notes |
| 47-9602 | Waiver and variance of rights and duties |
| 47-9603 | Agreement on standards concerning rights and duties |
| 47-9604 | Procedure if security agreement covers real property or fixtures |
| 47-9605 | Unknown debtor or secondary obligor |
| 47-9606 | Time of default for agricultural lien |
| 47-9607 | Collection and enforcement by secured party |
| 47-9608 | Application of proceeds of collection or enforcement; liability for deficiency and right to surplus |
| 47-9609 | Secured party's right to take possession after default |
| 47-9610 | Disposition of collateral after default |
| 47-9611 | Notification before disposition of collateral |
| 47-9612 | Timeliness of notification before disposition of collateral |
| 47-9613 | Contents and form of notification before disposition of collateral; general |
| 47-9614 | Contents and form of notification before disposition of collateral: consumer goods transaction |
| 47-9615 | Application of proceeds of disposition; liability for deficiency and right to surplus |
| 47-9616 | Explanation of calculation of surplus or deficiency; definitions |
| 47-9617 | Rights of transferee of collateral |
| 47-9618 | Rights and duties of certain secondary obligors |
| 47-9619 | Transfer of record or legal title; definition |
| 47-9620 | Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral |
| 47-9621 | Notification of proposal to accept collateral |
| 47-9622 | Effect of acceptance of collateral |
| 47-9623 | Right to redeem collateral |
| 47-9624 | Waiver |
| 47-9625 | Remedies for secured party's failure to comply with chapter |
| 47-9626 | Action in which deficiency or surplus is in issue |
| 47-9627 | Determination of whether conduct was commercially reasonable |
| 47-9628 | Nonliability and limitation on liability of secured party; liability of secondary obligor |
| Article 7 | Transition |
| 47-9701 | Effective date |
| 47-9702 | Savings clause |
| 47-9703 | Security interest perfected before effective date |
| 47-9704 | Security interest unperfected before effective date |
| 47-9705 | Effectiveness of action taken before effective date |
| 47-9706 | When initial financing statement suffices as continuation statement |
| 47-9707 | Amendment of pre effective date financing statement; definition |
| 47-9708 | Persons entitled to file initial financing statement or continuation statement |
| 47-9709 | Priority |
| 47-10101 | Provision for transition |
| 47-10102 | Laws not repealed |
| Chapter 10 | MISCELLANEOUS |
| Chapter 11 | ADDITIONAL TRANSITION PROVISIONS |
| Chapter 2A | LEASES |
| Article 1 | General Provisions |
| 47-2A101 | Short Title |
| 47-2A102 | Scope |
| 47-2A103 | Definitions and index of definitions |
| 47-2A104 | Leases subject to other law |
| 47-2A105 | Territorial application of chapter to goods covered by certificate of title |
| 47-2A106 | Limitation on power of parties to consumer lease to choose applicable law and judicial forum |
| 47-2A107 | Waiver or renunciation of claim or right after default |
| 47-2A108 | Unconscionability |
| 47-2A109 | Option to accelerate at will |
| Article 2 | Formation and Construction of Lease Contract |
| 47-2A201 | Statute of frauds |
| 47-2A202 | Final written expression; parol or extrinsic evidence |
| 47-2A203 | Seals inoperative |
| 47-2A204 | Formation in general |
| 47-2A205 | Firm offers |
| 47-2A206 | Offer and acceptance in formation of lease contract |
| 47-2A207 | Course of performance or practical construction |
| 47-2A208 | Modification, rescission and waiver |
| 47-2A209 | Lessee under finance lease as beneficiary of supply contract |
| 47-2A210 | Express warranties |
| 47-2A211 | Warranties against interference and against infringement; lessee's obligation against infringement |
| 47-2A212 | Implied warranty of merchantability |
| 47-2A213 | Implied warranty of fitness for particular purpose |
| 47-2A214 | Exclusion or modification of warranties |
| 47-2A215 | Cumulation and conflict of warranties express or implied |
| 47-2A216 | Third-party beneficiaries of express and implied warranties |
| 47-2A217 | Identification |
| 47-2A218 | Insurance and proceeds |
| 47-2A219 | Risk of loss |
| 47-2A220 | Effect of default on risk of loss |
| 47-2A221 | Casualty to identified goods |
| Article 3 | Effect of Lease Contract |
| 47-2A301 | Enforceability of lease contract |
| 47-2A302 | Title to and possession of goods |
| 47-2A303 | Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights |
| 47-2A304 | Subsequent lease of goods by lessor |
| 47-2A305 | Sale or sublease of goods by lessee |
| 47-2A306 | Priority of certain liens arising by operation of law |
| 47-2A307 | Priority of liens arising by attachment or levy on, security interests in and other claims to goods |
| 47-2A308 | Special rights of creditors |
| 47-2A309 | Lessor's and lessee's rights when goods become fixtures |
| 47-2A310 | Lessor's and lessee's rights when goods become accessions |
| 47-2A311 | Priority subject to subordination |
| Article 4 | Performance of Lease Contract Repudiated, Substituted and Excused |
| 47-2A401 | Insecurity; adequate assurance of performance |
| 47-2A402 | Anticipatory repudiation |
| 47-2A403 | Retraction of anticipatory repudiation |
| 47-2A404 | Substituted performance |
| 47-2A405 | Excused performance |
| 47-2A406 | Procedure on excused performance |
| 47-2A407 | Irrevocable promises; finance leases |
| Article 5 | Default |
| 47-2A501 | Default; procedure |
| 47-2A502 | Notice after default |
| 47-2A503 | Modification or impairment of rights and remedies |
| 47-2A504 | Liquidation of damages |
| 47-2A505 | Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies |
| 47-2A506 | Statute of limitations |
| 47-2A507 | Proof of market rent; time and place |
| 47-2A508 | Lessee's remedies |
| 47-2A509 | Lessee's rights on improper delivery; rightful rejection |
| 47-2A510 | Installment lease contracts; rejection and default |
| 47-2A511 | Merchant lessee's duties as to rightfully rejected goods |
| 47-2A512 | Lessee's duties as to rightfully rejected goods |
| 47-2A513 | Cure by lessor of improper tender or delivery; replacement |
| 47-2A514 | Waiver of lessee's objections |
| 47-2A515 | Acceptance of goods |
| 47-2A516 | Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over |
| 47-2A517 | Revocation of acceptance of goods |
| 47-2A518 | Cover; substitute goods |
| 47-2A519 | Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods |
| 47-2A520 | Lessee's incidental and consequential damages |
| 47-2A521 | Lessee's right to specific performance or replevin |
| 47-2A522 | Lessee's right to goods on lessor's insolvency |
| 47-2A523 | Lessor's remedies |
| 47-2A524 | Lessor's right to identify goods to lease contract |
| 47-2A525 | Lessor's right to possession of goods |
| 47-2A526 | Lessor's stoppage of delivery in transit or otherwise |
| 47-2A527 | Lessor's rights to dispose of goods |
| 47-2A528 | Lessor's damages for nonacceptance, failure to pay, repudiation or other default |
| 47-2A529 | Lessor's action for the rent |
| 47-2A530 | Lessor's incidental damages |
| 47-2A531 | Standing to sue third parties for injury to goods |
| 47-2A532 | Lessor's rights to residual interest |
| Chapter 4A | FUNDS TRANSFERS |
| Article 1 | Subject Matter and Definitions |
| 47-4A101 | Short title |
| 47-4A102 | Subject matter |
| 47-4A103 | Payment order; definitions |
| 47-4A104 | Funds transfer; definitions |
| 47-4A105 | Other definitions |
| 47-4A106 | Time payment order is received |
| 47-4A107 | Federal reserve regulations and operating circulars |
| 47-4A108 | Exclusion of consumer transactions governed by federal law |
| Article 2 | Issue and Acceptance of Payment Order |
| 47-4A201 | Security procedure |
| 47-4A202 | Authorized and verified payment orders |
| 47-4A203 | Unenforceability of certain verified payment orders |
| 47-4A204 | Refund of payment and duty of customer to report with respect to unauthorized payment order |
| 47-4A205 | Erroneous payment orders |
| 47-4A206 | Transmission of payment order through funds-transfer or other communication system |
| 47-4A207 | Misdescription of beneficiary |
| 47-4A208 | Misdescription of intermediary bank or beneficiary's bank |
| 47-4A209 | Acceptance of payment order |
| 47-4A210 | Rejection of payment order |
| 47-4A211 | Cancellation and amendment of payment order |
| 47-4A212 | Liability and duty of receiving bank regarding unaccepted payment order |
| Article 3 | Execution of Sender's Payment Order by Receiving Bank |
| 47-4A301 | Execution and execution date |
| 47-4A302 | Obligations of receiving bank in execution of payment order |
| 47-4A303 | Erroneous execution of payment order |
| 47-4A304 | Duty of sender to report erroneously executed payment order |
| 47-4A305 | Liability for late or improper execution or failure to execute payment order |
| Article 4 | Payment |
| 47-4A401 | Payment date |
| 47-4A402 | Obligation of sender to pay receiving bank |
| 47-4A403 | Payment by sender to receiving bank |
| 47-4A404 | Obligation of beneficiary's bank to pay and give notice to beneficiary |
| 47-4A405 | Payment by beneficiary's bank to beneficiary |
| 47-4A406 | Payment by originator to beneficiary; discharge of underlying obligation |
| Article 5 | Miscellaneous Provisions |
| 47-4A501 | Variation by agreement and effect of funds-transfer system rule |
| 47-4A502 | Creditor process served on receiving bank; setoff by beneficiary's bank |
| 47-4A503 | Injunction or restraining order with respect to funds transfer |
| 47-4A504 | Order in which items and payment orders may be charged to account; order of withdrawals from account |
| 47-4A505 | Preclusion of objection to debit of customer's account |
| 47-4A506 | Rate of interest |
| 47-4A507 | Choice of law |
Richard Keyt is a business, transactions, contracts, real estate, estate planning and internet law attorney licensed to practice law in Arizona. He has provided legal services to businesses and people in Arizona since 1980. Formerly a partner at one of the largest law firms in Arizona, Rick now provides big firm quality legal services at small firm rates. Rick can be reached by telephone at 602-906-4953, ext. 3, email at rickkeyt@keytlaw.com and fax at 602-297-6890. Rick's Arizona law, internet, e-commerce and domain name law web site is KEYTLaw, located at www.keytlaw.com. Communicating with Richard Keyt via email or otherwise does not cause you to become a client or cause your communications to be confidential or subject to the attorney client privilege.
KEYTLaw does not guaranty that the Arizona Revised Statutes displayed on www.keytlaw.com are current or complete versions of Arizona statutory law. The statutory information is furnished "as is" and it may not include the current version of the law or new Arizona statutes. See the Arizona State Legislature's web site for more information about the most recent version of Arizona statutes.
This page was last modified on May 27, 2009.
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