How can an agreement be evidenced under UCC?
In order for collateral to attach to a security interest, there are three requirements that must be made under the Uniform Commercial Code. One of the requirements is that an agreement must be made (#1 in the visual below):

This criteria basically says that there either needs to be a written contract that the creditor has control of the collateral, or they need to actually take control/possession of the collateral. If one of those scenarios doesn’t exist, then there is no evidence that an agreement was made and attachment would not occur.

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What is a security interest?
A security interest is when the creditor has legal claim or a lien on collateral that has been pledged by the debtor to obtain a loan. This provides tangible value that the creditor can seize and sell to pay off the loan if the debtor defaults. In order for a security interest to be legally...
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What is measurable value under the UCC?
Measurable value is one of the key criteria that must exist for collateral to be attached to a security interest under the UCC. Measurable value is captured in item #2 in the visual below: Basically, this requirement relates to the fact that the collateral must have tangible value, which means it would have value to...
What is a security interest?
A security interest is when the creditor has legal claim or a lien on collateral that has been pledged by the debtor to obtain a loan. This provides tangible value that the creditor can seize and sell to pay off the loan if the debtor defaults. In order for a security interest to be legally...
What is measurable value under the UCC?
Measurable value is one of the key criteria that must exist for collateral to be attached to a security interest under the UCC. Measurable value is captured in item #2 in the visual below: Basically, this requirement relates to the fact that the collateral must have tangible value, which means it would have value to...