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, tort or otherwise for the debtor's acts or omissions.
Structure Delaware Code
Article 9. Secured Transactions
Part 4. Rights of Third Parties
§ 9-401. Alienability of debtor's rights.
§ 9-402. Secured party not obligated on contract of debtor or in tort.
§ 9-403. Agreement not to assert defenses against assignee.
§ 9-404. Rights acquired by assignee; claims and defenses against assignee.
§ 9-405. Modification of assigned contract.
§ 9-409. Restrictions on assignment of letter-of-credit rights ineffective.