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Session Laws, 1963
Volume 671, Page 918   View pdf image (33K)
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920                             LAWS OF MARYLAND                      [CH. 538

(d)   "Debtor" means the person who owes payment or other per-
formance of the obligation secured, whether or not he owns or has
rights in the collateral, and includes the seller of accounts, contract
rights or chattel paper. Where the debtor and the owner of the
collateral are not the same person, the term "debtor" means the
owner of the collateral in any provision of the Sub-title dealing with
the collateral, the obligor in any provision dealing with the obligation,
and may include both where the context so requires;

(e)   "Document" means document of title as defined in the general
definitions of Sub-title 1 (Section 1
201);

(f)  "Goods" includes all things which are movable at the time the
security interest attaches or which are fixtures (Section 9
313),
but does not include money, documents, instruments, accounts, chattel
paper, general intangibles, contract rights and other things in action.
"Goods" also includes the unborn young of animals and growing
crops;

(g)  "Instrument" means a negotiable instrument (defined in Sec-
tion 3
104), or a security (defined in Section 8102) or any other
writing which evidences a right to the payment of money and is not
itself a security agreement or lease and is of a type which is in
ordinary course of business transferred by delivery with any neces-
sary indorsement or assignment;

(h) "Security agreement" means an agreement which creates or
provides for a security interest;

(i)  "Secured party" means a lender, seller or other person in
whose favor there is a security interest, including a person to whom
accounts, contract rights or chattel paper have been sold. When the
holders of obligations issued under an indenture of trust, equipment
trust agreement or the like are represented by a trustee or other
person, the representative is the secured party.

(2)  Other definitions applying to this Sub-title and the sections
in which they appear are:

"Account"                                                Section 9106.

"Consumer goods."                                   Section 9109 (1).

"Contract right."                                      Section 9106.

"Equipment."                                           Section 9109 (2).

"Farm products."                                     Section 9109 (3).

"General intangibles."                              Section 9106.

"Inventory."                                            Section 9109 (4).

"Lien creditor."                                        Section 9301 (3).

"Proceeds."                                              Section 9306 (1).

"Purchase money security interest."         Section 9107.

(3)   The following definitions in other Sub-titles apply to this
Sub-title.

"Check."                                                  Section 3104.

"Contract for sale."                                 Section 2106.

"Holder in due course."                             Section 3302.

"Note."                                                    Section 3—104.

"Sale."                                                     Section 2—106.

(4) In addition Sub-title 1 contains general definitions and princi-

 

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Session Laws, 1963
Volume 671, Page 918   View pdf image (33K)
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