Your client, Center Bank and Trust (CBT), plans to lend $2.5 million against equipment, inventory, and accounts receivable owned by Lee Leasing and Bob Lee, the owner of the company.

a. How will you determine what names to search under? If Bob will be a source of information, what questions will you ask him? UCC 9-503, 9-102(a)(71), and 9-506.

b. If CBT lends to Bob and takes Lee Leasing's property as collateral, which does CBT file against? UCC 9-102(a)(28), 9-502(a).

c. How will you determine whether the person you are filing against is the owner of the collateral?

Answer rating: 100% (QA)

a To determine what names to search under I will refer to UCC 9503 which outlines the rules for dete... View the full answer