Betty owns a home electronics store.Betty borrowed $100,000 a couple of years ago from Thirdbank,and Betty granted a security interest to Thirdbank on "present and after-acquired inventory." Betty is a generous store owner.Employees are able to select electronics and place them in their offices and homes.The understanding was that these systems would be sold as demonstrator units after a few months,but that has happened only once.Most of these systems have been in employee offices or homes since shortly after the store opened two years ago.Betty defaults on the debt to Thirdbank.Will Thirdbank be able to recover the electronic components located in employee offices and homes?

Question

Quizplus · Accepted Answer

The Answer of Betty owns a home electronics store.Betty borrowed $100,000 a couple of years ago from Thirdbank,and Betty granted a security interest to Thirdbank on "present and after-acquired inventory." Betty is a generous store owner.Employees are able to select electronics and place them in their offices and homes.The understanding was that these systems would be sold as demonstrator units after a few months,but that has happened only once.Most of these systems have been in employee offices or homes since shortly after the store opened two years ago.Betty defaults on the debt to Thirdbank.Will Thirdbank be able to recover the electronic components located in employee offices and homes?

Betty Owns a Home Electronics Store