Quality Appliance Company allows Reba to take a set of kitchen appli?ances that she bought from Quality even though she has not paid the full price. Quality's legally sufficient financing statement in the goods need not include

Question

Quizplus · Accepted Answer

A financing statement needs to include a description of the collateral, Quality's name as the secured party, and Reba's name as the debtor. However, it does not need to include a statement of the reason for allowing Reba to take the goods.

Quality Appliance Company Allows Reba to Take a Set of Kitchen