Payment intangible

{
  "id": "MLC-T-LAW-003675",
  "term": "Payment intangible",
  "field": "Law",
  "definition": "A type of general intangible under Article 9 of the Uniform Commercial Code in which the account debtor's principal obligation is to pay money, such as the right to receive payments on a commercial loan not evidenced by a promissory note. It differs from an account, which is a right to payment for goods sold, services rendered, or property licensed. A security interest is perfected by filing, and an outright sale of payment intangibles is perfected automatically.",
  "url": "https://mlchart.com/terminology/law/payment-intangible/"
}