Question: 2. What do we mean by perfection? What is a financing agreement? Read, brief and discuss Kimbrells of Sanford, Inc. v. KPS, Inc. a. Why

2. What do we mean by perfection? What is a financing agreement?

Read, brief and discuss Kimbrells of Sanford, Inc. v. KPS, Inc.

a. Why did Kimbrells have a perfected security interest in the VCR?

b. What added benefit would Kimbrell have received by filing a financing statement?

c. Answer the question posed at the end of the case:

(1) Critical Thinking Question: When, if ever, should the law make a security interest automatically perfected? Explain.

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