A) A debt transaction.
B) An approved interest.
C) A security agreement.
D) A secured interest.
E) A secured transaction.
G) All of the above
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B) False
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A) The bank would have to make a notation on the certificate of title for the van and would have to file a financing statement on the other items.
B) The interest is perfected automatically because the collateral are goods.
C) The bank would have to file a financing statement for all items.
D) The bank would have to make a notation on the certificate of title for the van,but the other items would be perfected automatically.
E) The bank could make a notation on the certificate of title for the van and on the ownership documents of the other items because they are goods used to conduct business.
G) C) and D)
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A) Dryden would have a claim against the hang glider only as an unsecured creditor.
B) Dryden would have a claim against the hang glider based on the amount of the loan.
C) Dryden would have no claim for the hang glider.
D) Dryden would be a secured creditor.
E) Both Dryden and the bank would have an equivalent claim to the hang glider.
G) C) and E)
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A) Secured creditor.
B) Secured debtor.
C) Debtor.
D) Creditor.
E) Transaction debtor.
G) B) and C)
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First,a secured party does not have to g...View Answer
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B) False
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A) The interest was perfected.
B) The interest was acknowledged.
C) The interest was secured.
D) The interest was guaranteed.
E) There was no effect because there can only be one security interest,and the bank already had that.
G) A) and E)
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A) A television purchased for an individual's home,but not a delivery van a corporation purchases to deliver product nor a certificate of deposit.
B) A television purchased for an individual's home and a delivery van a corporation purchases to deliver product,but not a certificate of deposit.
C) A delivery van a corporation purchases to deliver product,but not a television purchased for an individual's home nor a certificate of deposit.
D) A television purchased for an individual's home,a delivery van a corporation purchases to deliver product,and a certificate of deposit.
E) A television purchased for an individual's home,a delivery van a corporation purchases to deliver product,and a certificate of deposit must be perfected by filing.
G) A) and C)
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A) The court ruled in favor of the creditor on the basis that the documents evidencing the security interest did not limit the creditor's interest in any way.
B) The court ruled in favor of the bankruptcy estate on the basis that the trustee made first claim to the settlement proceeds.
C) The court ruled that the creditor was entitled to the full settlement proceeds,without consideration of the amount of the debt,on the basis that it had a secured interest.
D) The court ruled in favor of the creditor,regardless of the value of the collateral.
E) The court ruled in favor of the bankruptcy estate because the documents evidencing the security interest expressly limited the secured creditor's interest.
G) B) and C)
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A) A collateralized interest.
B) A pledged money interest.
C) A security perfection interest.
D) A purchase-money security interest.
E) A cash deferred security interest.
G) A) and B)
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A) Secured interest.
B) Secured transaction.
C) Debtor agreement.
D) Security agreement.
E) Collateral agreement.
G) B) and D)
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A) Consumer goods.
B) Documents of title.
C) Farm products.
D) Equipment.
E) Inventory.
G) D) and E)
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Rather than repossessing collateral,a se...View Answer
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A) The state in which Monte resides.
B) The state in which the bank is headquartered.
C) The state in which the branch where Monte took out his loan is located.
D) Any state that accepts the UCC.
E) The state in which the hang glider is registered.
G) A) and D)
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B) False
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B) False
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A) A security interest in collateral that has been perfected in one state will generally transfer to another state for a period of four months from the date that the property is brought into the other state.
B) A security interest in collateral that has been perfected in one state will generally expire immediately when the collateral is moved to another state.
C) A security interest in collateral that has been perfected in one state will generally transfer to another state for a period of 30 days from the date that the property is brought into the other state.
D) A security interest in collateral that has been perfected in one state will generally transfer to another state for a period of six months from the date that the property is brought into the other state.
E) A security interest in collateral that has been perfected in one state will generally transfer to another state for a period of two months from the date that the property is brought into the other state.
G) B) and E)
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Under the UCC,as long as Mindy,the buyer...View Answer
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B) False
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