The special rules providing for the creation of purchase money security interests under provincial personal property security laws were put in place because if there were no such rules
A) suppliers of inventory would be unable to obtain a security interest in the inventory supplied.
B) where other secured parties already have security interests that extend to after- acquired property, a supplier of goods would not be entitled to first priority for its security interest in the goods supplied.
C) debtors would never be able to obtain inventory financing.
D) the security interests of suppliers of goods would never have first priority in the goods supplied.
E) a financial institution which financed the acquisition of goods by a debtor would never be able to get first priority for its security interest in the goods acquired.
Correct Answer:
Verified
Q2: Perfection of a security interest in collateral
Q3: TevCo Inc supplies tennis racquets to Olympus
Q4: In July, Monarch Taverns Inc borrowed $100
Q5: Chester owns and operates a farm. As
Q6: Which of the following is TRUE? A
Q8: Which of the following is TRUE? A
Q9: In June, Alicia borrowed $10 000 from
Q10: The Bank of Nova Scotia and MMX
Q11: Walid carries on a retail electronics equipment
Q12: The process of distraint
A) arises as a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents