Vermont § 321 - § 9—321.
Full text of Vermont Vermont Statutes Online § 321 — § 9—321., with citation guidance and answers to common questions.
§ 321. § 9—321.
- Licensee of general intangible and lessee of goods in ordinary course of business (a) In this section, “licensee in ordinary course of business” means a person that becomes
a licensee of a general intangible in good faith, without knowledge that the license
violates the rights of another person in the general intangible, and in the ordinary
course from a person in the business of licensing general intangibles of that kind.
A person becomes a licensee in the ordinary course if the license to the person comports
with the usual or customary practices in the kind of business in which the licensor
is engaged or with the licensor’s own usual or customary practices. (b) A licensee in ordinary course of business takes its rights under the license free
of a security interest in the general intangible created by the licensor, even if
the security interest is perfected and the licensee knows of its existence. (c) A lessee in ordinary course of business takes its leasehold interest free of a security
interest in the goods created by the lessor, even if the security interest is perfected
and the lessee knows of its existence. (Added 1999, No. 106 (Adj. Sess.), § 2, eff. July 1, 2001.)
Frequently Asked Questions About Vermont § 321
What does Vermont Statutes Online § 321 cover?
Section 321 ("§ 9—321.") is part of the Vermont Statutes Online, the codified statutory law of Vermont. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Vermont § 321?
A common citation format is "Vermont Statutes Online § 321" (Vermont). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Vermont law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Vermont official source linked on this page or consult a licensed Vermont attorney.
How does Vermont § 321 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Vermont can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Vermont.