Under the Secured Transactions Article of the UCC, which of the following purchasers will own consumer goods free of a perfected security interest in the goods?
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1 .Under the Secured Transactions Article of the UCC, which of the following items can usually be excluded from a filed original financing statement?
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4 .Which of the following transactions would illustrate a secured party perfecting its security interest by taking possession of the collateral?
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A Yes, because it was perfected at the time of attachment. B No, because the laptop is a consumer good. C Yes, because Taso retained possession of the collateral. D No, because Taso failed to file a financing statement.
8 .Which of the following acts is most likely to cause a court to pierce the corporate veil?
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9 .Second Best Buy, In, is a retailer of small appliances. Second Best Buy gives Chase Financial Corporation a security interest in the inventory owned by Second Best Buy, InC. Chase files a financing statement to perfect its interest. Who has higher priority in the collateral than Chase?
A The stockholders of Second Best Buy. B A subsequent lien creditor. C A buyer in the ordinary course of Second Best Buy's business. D A subsequent trustee in bankruptcy.
10 .Under the UCC Secured Transactions Article, which of the following actions will best perfect a security interest in a negotiable instrument against any other party?
A Perfecting by attachment. B Obtaining a duly executed financing statement. C Taking possession of the instrument. D Filing a security agreement.
