Policy and Scope of Division

(1)Except as otherwise provided in Section 9104 on excluded transactions, this division applies

(a)To any transaction (regardless of its form) which is intended to create a security interest in personal property including goods, documents, instruments, general intangibles, chattel paper or accounts; and also

(b)To any sale of accounts or chattel paper; and also

(c)To any transaction (regardless of its form) which is intended to create a security interest in goods which are or later become Afixtures@ under the law of this Territory, but as against third parties having or acquiring an interest in or a lien on the real property, the rights and duties of the parties to the secured transactions are governed by the law of this Territory relating to real property and fixtures.

(2)This division applies to security interests created by contract including pledge, assignment, chattel mortgage, chattel trust, trust deed, inventory lien, equipment trust, conditional sale, trust receipt, other lien or title retention contract and lease or consignment intended as security. This division does not apply to statutory liens except as provided in Section 9310.

(3)The application of this division to a security interest in a secured obligation is not affected by the fact that the obligation is itself secured by a transaction or interest to which this division does not apply.