In re Hintze
United States Bankruptcy Court for the Northern District of Florida
525 B.R. 780 (2015)
Relevant factsFree
The Hintzes (debtors) signed a promissory note granting Christopher James (defendant) a security interest in "all of [their] assets"; after they filed bankruptcy, the trustee sought to sell Matthew Hintze's business equity, and James objected, claiming a security interest in that equity based on the note's blanket description, arguing parol evidence could clarify what assets were actually intended as collateral.
IssueFree
To create a valid security interest, must a description of the collateral reasonably identify the property?