When a consumer gives a creditor a security interest in forthcoming health insurance proceeds, the creditor must file a statement with the insurance company in order to have a perfected security interest
Indicate whether the statement is true or false
False
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Assume that Sherrie's Cherries contracts with Dessert World to sell and ship 600 pounds of cherries in three equal installments of 200 pounds each. If the first installment arrives with 5 pounds of spoilage, then Dessert World may
a. reject the installment shipment because of the perfect tender rule. b. not reject the installment if those in the food industry expect a small percentage of spoilage with fresh fruits or vegetables. c. reject the entire contract. d. declare a breach and "cover."
Money is automatically drawn from the buyer's account and deposited into the supplier's account in an electronic funds transfer (EFT)
Indicate whether the statement is true or false.