Assume you are the creditor in each of the following situations. Identify the kind of security agreement that is involved in each transaction and explain how you would perfect that agreement. a. You are the creditor (Evergromby Bank), and you lend
Brisco Baines $5,000 for a sound system. b. National Bank loans Donna $5,000 to purchase a computer for use in her store office. c. Garth needs cash for gambling debts. He brings in his gold ring to secure a $500 loan.
a. This is a purchase money security interest in consumer goods. It is automatically perfected, although Evergromby Bank may wish to file a financing statement to receive fuller protection.
b. This is a purchase money security interest in equipment. It takes priority over conflicting security interests if it is perfected when the debtor receives possession of the collateral or within twenty days of receiving possession. Filing in a central state office, usually the office of the Secretary of State of the state where the transaction occurred, does perfect.
c. This is a pledge of consumer goods. Since delivery has been made, no filing is necessary and the security interest is perfected by reason of the secured party's possession of the collateral.
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Which of the following statements is true of customer needs?
A) Satisfying customer needs is the first step in successful market segmentation. B) All potential customers have the same needs. C) Solving customer problems requires knowing the identity of target customers. D) A business with a strong market orientation rarely divides its served market into customer segments. E) The factors influencing the needs of both consumers and businesses are the same.
Boursaw Corporation has provided the following data concerning last month's operations. Purchases of raw materials$33,000Indirect materials included in manufacturing overhead$4,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$78,000Underapplied overhead$5,000 BeginningEndingRaw materials inventory$10,000$15,000Work in process inventory$56,000$72,000Finished goods inventory$41,000$49,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured?
A. $216,000 B. $164,000 C. $144,000 D. $160,000
Team members working through their problems and learning how to work with each other characterize this stage of team development.
What will be an ideal response?
Managers can make their own __________ law by entering into contracts and crafting certain governance structures
a. public b. primary c. cohesive d. private