41-09-64. (9-402) Secured party not obligated on contract of debtor or in tort.
40 words·~1 min read·
/nd/title-41/chapter-41-09-secured-transactions/41-09-64·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.