Video Question Go to this text’s Web site at www.cengage.com/blaw/blt and select “Chapter 20.”

Click on “Video Questions” and view the video titled Secured Transactions. Then answer the following questions.

1 This chapter lists three requirements for creating a security interest. In the video, which requirement does Laura assert has not been met?

2 What, if anything, must the bank have done to perfect its interest in the editing equipment?

3 If the bank exercises its self-help remedy to repossess Onyx’s editing equipment, does Laura have any chance of getting it back? Explain.

4 Assume that the bank had a perfected security interest and repossessed the editing equipment. Also assume that the purchase price (and the loan amount) for the equipment was $100,000, of which Onyx has paid $65,000. Discuss the rights and duties of the bank with regard to the collateral in this situation.