Exam 29: Security Interests in Personal Property

A perfected purchase money security interest in a manufacturer's stock has priority over a conflicting security interest in the same stock if the notification states that the person expects to acquire a purchase money security interest in stock of the debtor and describes the stock.Which of the following priority rules does this statement correspond to?

Mark filed a financing statement on Daniel's collateral on March 2.However,attachment of this interest did not occur until March 4.Meanwhile,Charles,who had attached a security interest on the same collateral on March 1,filed a financing statement on March 3.Which interest has priority and why?

According to the Code classifications of collateral,general intangibles include:

With regard to a prior perfected security interest in goods for which a financing statement has been filed,which of the following parties is most likely to have a superior interest in the same collateral?

Which of the following is a way of perfecting a security interest?

A stove in the hands of a manufacturer is classified as ________;if it is used in a restaurant it is ________;if it is used in a home it is classified as ________.

According to the Code classifications of collateral,instruments include:

What is the general priority rule established by the Uniform Commercial Code?

Attachment of a security interest is a necessary condition for its perfection.

A typewriter,which was subject to a prior UCC security interest,was delivered to Ed Fogel for repair.Fogel,who is engaged in the business of repairing typewriters,repaired the typewriter.However,the owner of the typewriter now refuses to pay for the services performed by Fogel.The state in which Fogel operates his business has a statute,which gives Fogel a mechanic's lien on the typewriter.Fogel's mechanic's lien: