Grey Corp. sells computers to the public. Grey sold and delivered a computer to West on credit.
Fantastic news! We've Found the answer you've been seeking!
Question:
delivered a computer to West on credit. West executed and delivered
to Grey a promissory note for the purchase price and a
security agreement covering the computer. West purchased the
computer for personal use. Grey did not file a financing statement.
Is Grey’s security interest perfected?
Yes, because Grey retained ownership of the computer.
Yes, because it was perfected at the time of attachment.
No, because the computer was a consumer good.
No, because Grey failed to file a financing statement.
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date: