The owner of Potter's Pottery also purchased two laptop computers under the name "Potter's Pottery" from BigBox Store for use in the store.Does BigBox Store's security interest automatically perfect?
A) No,even though the laptops are used primarily for business,the laptops are consumer goods and the secured party would have to file a financing statement to perfect the security interest in them.
B) No,the laptops are purchased for business use and the secured party would have to make a notation on the title to perfect the security interest in them.
C) Yes,even though the laptops are used primarily for business,the laptops are consumer goods.
D) Yes,because the laptops are consumer goods,and,for public policy reasons,the security interest in them will always perfect automatically.
E) No,the laptops are purchased for business use and the secured party would have to file a financing statement to perfect the security interest in them.
Correct Answer:
Verified
Q63: Is the bank correct that it has
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
Q69: Before perfecting its interest,if the kiln manufacturer
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
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