Missouri Law Review Volume 68 Issue 1 Winter 2003 Article 9 Winter 2003 Are Security Deposits Security Interests - The Proper Scope of Article 9 and Statutory Interpretation in Consumer Class Actions R. Wilson Freyermuth Follow this and additional works at: https://scholarship.law.missouri.edu/mlr Part of the Law Commons Recommended Citation R. Wilson Freyermuth, Are Security Deposits Security Interests - The Proper Scope of Article 9 and Statutory Interpretation in Consumer Class Actions, 68 MO. L. REV. (2003) Available at: https://scholarship.law.missouri.edu/mlr/vol68/iss1/9 This Article is brought to you for free and open access by the Law Journals at University of Missouri School of Law Scholarship Repository. It has been accepted for inclusion in Missouri Law Review by an authorized editor of University of Missouri School of Law Scholarship Repository. For more information, please contact
[email protected]. Freyermuth: Freyermuth: Are Security Deposits Security Interests Are Security Deposits "Security Interests"? The Proper Scope of Article 9 and Statutory Interpretation in Consumer Class Actions R. Wilson Freyermuth" Assume that Jane Doe leases an automobile from a General Motors dealer, pursuant to a lease contract under which Jane makes a cash security deposit. Under the lease, the lessor agrees to "refund" the deposit at the conclusion of the lease term in the event that Jane fully performs her obligations under the lease. Is this transaction governed by Article 9-i.e., has the lessor taken a "security interest" in Jane's cash deposit to secure Jane's obligations under the lease agreement? A cursory review of the text of Article 9 suggests that Jane's lessor would hold a possessory security interest in Jane's deposit.