Patent ID: 7051364

Claim:
A system for enabling the preparation, execution and secure management of an electronic chattel paper agreement comprising: a server processing unit and a server memory device electrically coupled to the server processing unit; a client processing unit and a client memory device electrically coupled to the client processing unit; a server program module, stored in the server memory device, for providing instructions to the server processing unit; a client program module, stored in the client memory device, for providing instructions to the client processing unit, and a communication medium, communicatively coupling the server processing unit and the client processing unit; the client processing unit, responsive to the instruction of the client program module and the server processing unit, responsive to the instructions of the server program module, being operative to: authorize access to the system; generate at least one unexecuted electronic chattel paper document; prevent the creation of fraudulent versions of the electronic chattel paper document; associate signatures electrically input by parties to a chattel paper transaction with the electronic chattel paper document thereby generating an electronic chattel paper agreement; and maintain an authoritative copy of the electronic chattel paper document in the server memory device of the server processing unit.