§ 34.1-9-108 — Sufficiency of description

Wyoming § 34.1-9-108

• Jurisdiction: Wyoming
• Title 34.1: Uniform Commercial Code
• Art. 9: SECURED TRANSACTIONS

Text

(a) Except as otherwise provided in subsections (c), (d)
and (e), a description of personal or real property is
sufficient, whether or not it is specific, if it reasonably
identifies what is described.
(b) Except as otherwise provided in subsection (d), a
description of collateral reasonably identifies the collateral
if it identifies the collateral by:
(i) Specific listing;
(ii) Category;
(iii) Except as otherwise provided in subsection (e),
a type of collateral defined in this title;
(iv) Quantity;
(v) Computational or allocational formula or
procedure; or
(vi) Except as otherwise provided in subsection (c),
any other method, if the identity of the collateral is
objectively determinable.
(c) A description of collateral as "all the debtor's
assets" or "all the debtor's personal property" or using words
of similar import does not reasonably identify the collateral.
(d) Except as otherwise provided in subsection (e), a
description of a security entitlement, securities account or
commodity account is sufficient if it describes:
(i) The collateral by those terms or as investment
property; or
(ii) The underlying financial asset or commodity
contract.
(e) A description only by type of collateral defined in
this title is an insufficient description of:
(i) A commercial tort claim; or
(ii) In a consumer transaction, consumer goods, a
security entitlement, a securities account or a commodity
account.