Before perfecting its interest,if the kiln manufacturer examines the van's title but does not find any notation of a secured interest,which of the following statements is true?
A) The kiln manufacturer would have to check if any other creditors filed financing statements with the state in order to determine if any other creditors have priority,and if not,the kiln manufacturer would have priority if it made a notation on the van's title.
B) The kiln manufacturer would have to check if any other creditors filed financing statements with the state in order to determine if any other creditors have priority.
C) The bank's interest in the van would take priority over the kiln manufacturer because it filed first.
D) The kiln manufacturer can assume that no other creditors have a secured interest in the vehicle and thus it would have priority if it perfected its interest by making a notation on the van's title.
E) The kiln manufacturer would have to check if any other creditors filed financing statements with the state in order to determine if any other creditors have priority,and if not,the kiln manufacturer would have priority if it filed its financial statement.
Correct Answer:
Verified
Q64: If a bank wants to ensure it
Q65: [Repo] Meredith sells used cars and trucks.She
Q66: [Pottery Store] A&B Bank loaned money to
Q67: Trevor goes to the AutoShop and purchases
Q68: The owner of Potter's Pottery also purchased
Q70: Does the fact that the financing statement
Q71: Which of the following purchases can be
Q72: Where should the bank have filed the
Q73: Jo purchases a car from Used-Carz and
Q74: What is the likely effect on perfection
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