Edie needs $1,500 to buy textbooks and other school supplies.Frank agrees to loan Edie $1,500,accepting as collateral Edie's car.They put their agreement in writing and sign it.Edie keeps possession of the car.Does Frank have an enforceable security interest? How can Frank let other creditors know of his interest in the car?

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The Answer of Edie needs $1,500 to buy textbooks and other school supplies.Frank agrees to loan Edie $1,500,accepting as collateral Edie's car.They put their agreement in writing and sign it.Edie keeps possession of the car.Does Frank have an enforceable security interest? How can Frank let other creditors know of his interest in the car?

Edie Needs $1,500 to Buy Textbooks and Other School Supplies