Abstract Rights versus Paper Rights under Article 9 of the Uniform Commercial Code, 84 Yale Law Journal 445 (1975)
The documentary embodiment of a secured party's rights has intriguing
and varying consequences in a number of situations governed
by Article 9 of the Uniform Commercial Code.' This article will
explore some of these consequences and the broader questions they
raise, and will suggest some hypotheses about the functional significance
of documentation and alternatives to documentation in different
branches of commercial life. For brevity, and to avoid confusion over
the word "documentary," such embodiments of rights are referred to
here by a phrase not found in the UCC, "paper rights."
Date of Authorship for this Version
secured party, uniform commercial code
Clark, Robert C., "Abstract Rights versus Paper Rights under Article 9 of the Uniform Commercial Code" (1975). Faculty Scholarship Series. Paper 4409.