The Total Household Appliance store sells a refrigerator to Alvin,on the condition of making payments in installments.In this case,to perfect its security interest,the store:
A)has to file its purchase money security interest.
B)need not file its purchase money security interest.
C)has to take possession of the refrigerator.
D)need not attach the refrigerator.

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 has a purchase money security interest in consumer goods.The creditor does not have to file his purchase money security interest in the refrigerator.The security interest is considered perfected just by virtue of its attachment to the refrigerator in the hands of the consumer.

The Total Household Appliance Store Sells a Refrigerator to Alvin,on