Town Loan Center agrees to loan Sara $1,500, accepting as collateral her car. They put their agreement in writing and sign it. Sara keeps possession of the car. Does Town Loan have an enforceable security interest? How can Town Loan let other creditors know of its interest in the car?

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The Answer of Town Loan Center agrees to loan Sara $1,500, accepting as collateral her car. They put their agreement in writing and sign it. Sara keeps possession of the car. Does Town Loan have an enforceable security interest? How can Town Loan let other creditors know of its interest in the car?

Town Loan Center Agrees to Loan Sara $1,500, Accepting as Collateral