A creditor who sells consumer goods to a consumer on credit has a purchase money security interest in the goods.

Question

Quizplus · Accepted Answer

A creditor who sells goods to a consumer on credit,or who lends money to enable a consumer to buy goods,can obtain limited perfection of a security interest merely by attaching the security interest to the goods.A creditor under these circumstances has what is called a purchase money security interest in consumer goods.

A Creditor Who Sells Consumer Goods to a Consumer on Credit