A PMSI is created in goods when a seller retains a security interest in the goods sold on credit by a security agreement.

Name: A PMSI is created in goods when a seller retains a security interest in the goods sold on credit by a security agreement.
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Question

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A Purchase Money Security Interest (PMSI) is created when a seller retains a security interest in goods sold on credit, ensuring the seller has a claim to the goods if the buyer defaults.

A PMSI Is Created in Goods When a Seller Retains