N.Y. Uniform Commercial Code Law § 9-108: Sufficiency of Description

Section 9--108. Sufficiency of Description.

(a) Sufficiency of description. Except as otherwise provided in

subsections (c), (d), and (e), a description of personal or real

property is sufficient, whether or not it is specific, if it reasonably

identifies what is described.

(b) Examples of reasonable identification. Except as otherwise

provided in Section 9--502 and subsection (d), a description of

collateral reasonably identifies the collateral if it identifies the

collateral by:

(1) specific listing;

(2) category;

(3) except as otherwise provided in subsection (e), a type of

collateral defined in this chapter;

(4) quantity;

(5) computational or allocational formula or procedure; or

(6) except as otherwise provided in subsection (c), any other

method, if the identity of the collateral is objectively

determinable.

(c) Supergeneric description not sufficient. A description of

collateral as "all the debtor's assets" or "all the debtor's personal

property" or using words of similar import does not reasonably identify

the collateral.

(d) Investment property. Except as otherwise provided in subsection

(e), a description of a security entitlement, securities account, or

commodity account is sufficient if it describes:

(1) the collateral by those terms or as investment property; or

(2) the underlying financial asset or commodity contract.

(e) When description by type insufficient. A description only by type

of collateral defined in this chapter is an insufficient description of:

(1) a commercial tort claim;

(2) in a consumer transaction, consumer goods, a security

entitlement, a securities account, or a commodity account; or

(3) a cooperative interest.