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Pat Went to Eighth National Bank in Oregon and Obtained

Question 74

Multiple Choice

Pat went to Eighth National Bank in Oregon and obtained a loan to purchase a computer from a friend.Pat signed a security agreement granting the bank a security interest in the computer.Pat planned to use this computer in his home-based publishing business.The bank gave Pat $2,500 to use in purchasing the computer.However,Pat immediately went to Las Vegas without purchasing the computer and has not been seen since.The bank has filed a financing statement covering the computer.The bank wants the computer.Can the bank get the computer?


A) Yes,because the computer is equipment.
B) Yes,so long as no one else had an earlier perfected security interest in the computer.
C) No,because Pat is no longer in the state of Oregon.
D) No,because the security interest has not attached yet.
E) No,because the bank must first try to collect from Pat.

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