A) Collateral agreement.
B) Secured interest.
C) Debtor agreement.
D) Secured transaction.
E) Security agreement.
G) A) and C)
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B) False
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A) purchase money security interest
B) collateral
C) default
D) attachment
E) perfection
G) C) and E)
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A) A secured party automatically has an interest in proceeds.
B) A secured party has an interest in proceeds only if the proceeds are taken into the possession of the secured party.
C) A secured party has an interest in proceeds only if a financing statement is filed on the proceeds.
D) A secured party has an interest in proceeds only if the secured party has a signed statement from the debtor granting an interest in proceeds.
E) The secured party may not acquire a security interest in proceeds.
G) A) and D)
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A) Goods, indispensable paper, intangibles, and proceeds may all constitute collateral.
B) Goods, indispensable paper, and intangibles may constitute collateral, but proceeds may not.
C) Goods may constitute collateral, but indispensable paper, intangibles, and proceeds may not.
D) Goods and proceeds may constitute collateral, but indispensable paper and intangibles may not.
E) Goods and intangibles may constitute collateral, but indispensable paper and proceeds may not.
G) A) and B)
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A) Meredith breached the peace because she did not provide Caleb prior notification that she was going to repossess the vehicle.
B) Meredith breached the peace because she took the vehicle from a public lot.
C) Meredith breached the peace unless she can establish that Caleb gave her prior permission to repossess the vehicle in a public lot.
D) Meredith did not breach the peace because she acted in a reasonable manner in taking the collateral.
E) Meredith did not breach the peace because Caleb sustained no documented physical injury.
G) B) and C)
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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.
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, and if not, the kiln manufacturer would have priority if it filed its financial statement.
C) 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.
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 bank's interest in the van would take priority over the kiln manufacturer because it filed first.
G) A) and B)
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A) Dryden would have a claim against the hang glider only as an unsecured creditor.
B) Dryden would have no claim for the hang glider.
C) Dryden would be a secured creditor.
D) Both Dryden and the bank would have an equivalent claim to the hang glider.
E) Dryden would have a claim against the hang glider based on the amount of the loan.
G) B) and E)
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B) False
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A) security interest in collateral
B) a right to payment of money
C) a right to secure collateral
D) an authorization
E) a notarization
G) C) and D)
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