Perfection of Security Interest by Possession

The video tutorial explains the concept of possession in property law, covering both tangible and intangible property. It discusses how possession can control interest in property and the roles of secured parties and agents. The importance of a valid principal-agent relationship in taking possession of collateral is also highlighted.

In what situations might tangible personal property be involved in possession?

What is required for a secured party to take possession of collateral?

Explain the role of an agent in the context of taking possession of collateral.

What is the significance of having a valid principal-agent relationship in taking possession?

What does it mean to have a perfected security interest by control of the collateral?