eGear is a retail seller of cellphones, televisions, and other consumer electronic equipment. eGear sells Fiona a $2,400 large-screen, high-definition set on a retail installment security agreement in which she pays $100 down and agrees to pay the balance in equal installments. eGear retains a security interest in the set, and perfects that interest by filing a financing statement centrally. Two months later, Fiona is in default on the payments to eGear and is involuntarily petitioned into bankruptcy by other creditors. Discuss eGear's right to repossess the TV set and whether eGear has priority over the trustee in bankruptcy to any proceeds from the disposal of the set.

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The Answer of eGear is a retail seller of cellphones, televisions, and other consumer electronic equipment. eGear sells Fiona a $2,400 large-screen, high-definition set on a retail installment security agreement in which she pays $100 down and agrees to pay the balance in equal installments. eGear retains a security interest in the set, and perfects that interest by filing a financing statement centrally. Two months later, Fiona is in default on the payments to eGear and is involuntarily petitioned into bankruptcy by other creditors. Discuss eGear's right to repossess the TV set and whether eGear has priority over the trustee in bankruptcy to any proceeds from the disposal of the set.

EGear Is a Retail Seller of Cellphones, Televisions, and Other