What is true about all goods in secured transactions?

In the context of secured transactions, the statement that all goods must be movable at the time the security interest attaches is accurate. This requirement stems from the definition of goods under the Uniform Commercial Code (UCC), which Georgia follows. Goods are typically understood to include all things that are movable at the time the security interest is created.

The necessity for goods to be movable ensures that they can be physically transferred, thereby allowing the secured party to repossess them in the event of default. This characteristic distinguishes goods from other types of collateral, such as real estate or intangible assets, which cannot be moved.

Therefore, this notion is essential for lenders and creditors to understand, as it helps inform their decisions about what type of collateral they may accept in a secured transaction. Understanding this principle enables parties to structure their agreements effectively and ensures proper attachment and perfection of the security interest.