A perfected purchase money security interest in inventory has priority over a conflicting security interest in the same inventory if :
A) the purchase money security interest is perfected three months after the debtor receives possession of the inventory.
B) the purchase money secured party gives an oral notification to the prior secured creditor before the debtor receives the inventory.
C) the holder of the competing security interest received notification within eight years before the debtor receives the inventory.
D) the notification states that the person expects to acquire a purchase money security interest in inventory of the debtor and describes the inventory.
Correct Answer:
Verified
Q20: A creditor can perfect a security interest
Q21: Under the revised Article 9 of the
Q22: Milt borrowed $200 from Anne.He promised to
Q22: Obtaining a security interest enforceable against third
Q23: Change of possession is:
A)the most common way
Q24: A security interest in money can be
Q24: If the creditor has possession of the
Q28: When the security interest is perfected and
Q29: An artisan's lien:
A)is ineffective against other creditors
Q30: To be sufficient,a financial statement:
A)must not provide
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