Which of the following is true regarding a security interest in consumer goods?
A) Under federal consumer protection legislation,a seller may not hold a security interest in consumer goods.
B) A financing statement must be filed in order to perfect a security interest in consumer goods.
C) When a creditor sells a consumer good to a debtor on a credit basis,the security interest perfects automatically.
D) Under most state laws,a seller may not hold a security interest in consumer goods.
E) When a creditor sells a consumer good to a debtor on a credit basis,the security interest is perfected by the seller's possession.
Correct Answer:
Verified
Q31: Which of the following is the agreement
Q32: When a debtor sells collateral,he or she
Q33: _ is defined as the series of
Q34: Which statement is correct regarding a secured
Q35: A secured party's interest in proceeds lasts
Q37: Which of the following is true regarding
Q38: Which of the following is true under
Q39: Which of the following was the result
Q40: The creditor becomes the secured party who
Q41: How long does a debtor have in
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