The problem arises because, in a secured transaction (not a title
reservation agreement or a leasing agreement), the obligation
that is secured has no necessary relationship to the object that secures
it. For example, the obligation secured may be to repay a
loan made for general business purposes although it may be secured
by several objects under several different security agreements.
Consider a single promissory note evidencing a loan that
is secured by objects A, B, and C under three separate security
agreements. None of the security agreements make reference to
the others.