Multiple Choice
Which of the following is true under the UCC if a buyer of a consumer good subject to purchase-money security interest later sells the good?
A) The security interest immediately terminates.
B) The security interest passes to the new buyer.
C) Regardless of whether the buyer is aware of the security interest, the security interest terminates if the sale to the new buyer is made before the original secured party files a financial statement.
D) As long as the buyer is not aware of the security interest, purchases the good for his or her personal use, and purchases the good before the secured party files a financial statement, the new buyer obtains the good free of the security interest.
E) As long as the buyer is not aware of the security interest, purchases the good for resale, and purchases the good before the secured party files a financial statement, the buyer obtains the good free of the security interest.
Correct Answer:

Verified
Correct Answer:
Verified
Q15: A security interest may not apply to
Q72: How is a determination made regarding the
Q73: A _ is a written federal court
Q75: Reference - Claims to Funds. Paul had
Q77: Under the UCC, a buyer in the
Q78: Which of the following chapters of the
Q79: Which of the following cannot be forced
Q81: Reference - Overextended Debtor. Dennis purchased a
Q82: Which of the following is true regarding
Q84: Which of the following chapters of the