Which statement is correct regarding a secured party's interest in proceeds when a debtor sells collateral?
A) The secured party may not acquire a security interest in proceeds.
B) A secured party has an interest in proceeds only if a financing statement is filed on the proceeds.
C) A secured party automatically has an interest in proceeds.
D) A secured party has an interest in proceeds only if the proceeds are taken into the possession of the secured party.
E) A secured party has an interest in proceeds only if the secured party has a signed statement from the debtor granting an interest in proceeds.
Correct Answer:
Verified
Q29: _ is formed when a debtor uses
Q30: A[n] _ is the transfer of collateral
Q31: Which of the following is the agreement
Q32: When a debtor sells collateral,he or she
Q33: _ is defined as the series of
Q35: A secured party's interest in proceeds lasts
Q36: Which of the following is true regarding
Q37: Which of the following is true regarding
Q38: Which of the following is true under
Q39: Which of the following was the result
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