Berkowitz v. Chavo International Inc.

OPINION OF THE COURT

Alexander, J.

The issue presented on this appeal is whether a promis*147sory note executed in favor of the judgment debtor is an instrument under UCC 9-105 (1) (i) such that intervenor Congress Talcott Corp. was required to take possession of the note in order to perfect its security interest therein prior to execution of a lien on the note’s proceeds obtained by the judgment creditor (see, UCC 9-304 [1]). We conclude that possession of the promissory note was required and that, consequently, the judgment creditor has a prior right to the proceeds due thereunder.

I

In August…