The existence of a security interest, agricultural lien, or authority given to a debtor to dispose of or use collateral, without more, does not subject a secured party to liability in contract or tort for the debtor's acts or omissions.
Tenn. Code Ann. § 47-9-402
Secured party not obligated on contract of debtor or in tort
Known as the Uniform Commercial Code
The act spans §§ 47–47 (578 sections).
Applied in 2 court decisions — leading case Farmer v. Green Tree Servicing LLC (In Re Snelson) (2005)
Most recently applied in First Community Bank v. Jones (In Re Silver Dollar, LLC) (April 2008)
Acts 2000, ch. 846, § 1.
Current official text: Tennessee Code (LexisNexis). Digitized from the UniCourt Code Improvement Commission public-domain capture. Reproduced from public-domain Tennessee statutes; confirm against the official source for the current text. Not legal advice.