Wanderlust gave a security interest in his Conestoga wagon to Iowa Bank who perfected its security interest by filing a financing statement with the appropriate officials in Iowa.Five months later,Wanderlust hit the trail again,moving to Montana.If Iowa Bank wants to continue its perfected interest in the Conestoga wagon,it should
A) file a continuation statement for another five years in Iowa before Wanderlust moves on.
B) re-perfect by filing a financing statement in the appropriate place in Montana,according to Montana law,within four months of Wanderlust's entering Montana.
C) repossess the Conestoga wagon.
D) file a continuation statement for another four months in Iowa before Wanderlust moves on.
Correct Answer:
Verified
Q21: Country Bank,located in Indiana,loaned Chmelik $5,000 and
Q22: In terms of collateral,which of the following
Q23: The initial term for which a financing
Q24: Wedney,Inc.sold a meat processing machine to Yoro
Q25: Morefield Custom Design sends 30 recliners by
Q27: Landscaper Lottie used her machinery,employee labor,and her
Q28: Hiram is a debtor to Central Credit
Q29: Wedney,Inc.has a purchase money security interest in
Q30: Which of the following is correct concerning
Q31: At her neighbor's garage sale,Constance buys 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