Assignment $($i$)$

Soved

Before beginning this activity, revew LO $19-2$ and $19-3$ in your text. Be sure to revew how secured transactions are formed, and the different means of perfection that arise atter a debtor is in default on a secured transaction, including: perfection by filing. perfection by possession, automatic perfection, and the perfection of motor vehicles.

CONCEPT REVIEW:

Article $9$ of the Uniform Commerclal Code $($UCC$)$ governs secured transactions in personal property. A secured transaction Is a transaction in which the payment of a debt is guaranteed by personal property owned by the debtor. As of $2009.$ with some varlation, all states had enacted Article $9.$ Thus, while the law governing secured transactions is state law, the universal adoption of Article $9$ permits us to discuss laws regarding secured transactions across state lines.

Match the scenario below regarding the creation of a secured transaction. Roll your cursor over each to reveal an explanation.

$1$

Car Lot Equals

$2$

Jessica Signs

Agreement

$3$

Car Lot Gives Value

Right to Collateral

$5$

Partles Write

Secured Party

Agreement

Agreement

Match each of the options above to the rems below.

Security Agreement

Debtor's Signature

S$.$P$.$ Gives Value

Right to Collateral

Attachment