Which of the following is not one of the basic requirements for a security interest to be attached to the goods of a debtor?
A)The debtor must be a bona fide purchaser.
B)Either there must be an agreement by the debtor granting the creditor a security interest in particular property or the secured party must have possession of the property.
C)The creditor must give something of value to the debtor.
D)The debtor must have rights in the collateral or the owner of the collateral must agree to allow its use as collateral.

Question

Quizplus · Accepted Answer

There are three basic requirements for a security interest to be attached to the goods of a debtor [9-203].First,either there must be an agreement by the debtor granting the creditor a security interest in particular property (collateral)or the secured party must have possession of the property.Second,the creditor must give something of value to the debtor.The creditor must,for example,loan money or advance goods on credit to the debtor.Third,the debtor must have rights in the collateral or the owner of the collateral must agree to allow its use as collateral.Unless the debtor owes a debt to the creditor or an unfulfilled promise to perform,there can be no security interest.The purpose of obtaining the security interest is to secure a debt or performance.

Which of the Following Is Not One of the Basic