If Smith still has a security interest in the TG285 (for this question assume that he does), does Smith have any security interest in the small tractor that was purchased from Jones Farm Equipment? If yes, can Smith get all or part of the $25,000 through the small tractor purchased from Jones how much? How much? Need a complete analysis. (Note: If Smith has a security interest in the TG285 Tractor that would give him $75,000, but Edwards still owes another $25000 based on the original note, so the last part of this questions is asking if Edwards could get all or part of that $25000 through the small tractor purchased from Jones).

Answer rating: 100% (QA)

Security Interest Does this document meet the minimum requirements of both the security agreement an... View the full answer