A security interest is automatically perfected when the secured party has a legally enforceable right to take the property and sell it to satisfy the debt.

Question

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A security interest attaches when the secured party has a legally enforceable right to take that property and sell it to satisfy the debt. A security interest is perfected when the secured party has done everything that the law requires to give the secured party greater rights to the goods than others have.

A Security Interest Is Automatically Perfected When the Secured Party