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Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
Edition 4ISBN: 978-1133709107 Exercise 9
Which case does not represent a purchase money security interest
(a) Auto Dealer sells Consumer a car on credit.
(b) Wholesaler sells Retailer 5,000 pounds of candy on credit.
(c) Bank lends money to Retailer, using Retailer's existing inventory as collateral.
(d) Bank lends money to Auto Dealer to purchase 150 new cars, which are the collateral.
(e) Consumer applies to Credit Agency for a loan with which to buy a yacht.
(a) Auto Dealer sells Consumer a car on credit.
(b) Wholesaler sells Retailer 5,000 pounds of candy on credit.
(c) Bank lends money to Retailer, using Retailer's existing inventory as collateral.
(d) Bank lends money to Auto Dealer to purchase 150 new cars, which are the collateral.
(e) Consumer applies to Credit Agency for a loan with which to buy a yacht.
Explanation
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Verified
It is an amount receipt by a person who ...
Cengage Advantage Books: Introduction to Business Law 4th Edition by Timothy Koch, Jeffrey Beatty, Jeffrey Beatty, Susan Samuelson, Susan Samuelson
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