Ken's Auto Sales borrows money from Lenders Finance Corporation under a security agreement. With the money, Ken's buys six Mazda Miatas. The vehicles are

Name: Ken's Auto Sales borrows money from Lenders Finance Corporation under a security agreement. With the money, Ken's buys six Mazda Miatas. The vehicles are
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Question

Ken's Auto Sales borrows money from Lenders Finance Corporation under a security agreement. With the money, Ken's buys six Mazda Miatas. The vehicles are​

Quizplus · Accepted Answer

The Mazda Miatas are considered after-acquired property because they were not owned by Ken's Auto Sales at the time the security agreement with Lenders Finance Corporation was entered into.

Ken's Auto Sales Borrows Money from Lenders Finance Corporation Under