Principles of Secured Transactions (Concise Hornbook Series) by Snyder Franklin & Barnes Wayne & Summers Robert & White James

Author:Snyder, Franklin & Barnes, Wayne & Summers, Robert & White, James
Language: eng
Format: epub
Publisher: West Academic
Published: 2018-05-04T16:00:00+00:00

b.​The Debtor’s Property

The second requirement in section 547(b) is that the transfer be of the “debtor’s property.” The usual preference is a direct transfer from the debtor to the creditor in the form of the payment of a debt, transfer of a security interest in the debtor’s property or the transfer

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of some other property interest.11 When the issuer of a letter of credit or a guarantor pays, the transfer will not be a transfer of the debtor’s property. But, a transfer of the debtor’s property (i.e., granting of a security interest) to the issuer of the letter of credit at the time the letter was issued may have been a preference.

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