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1. To perfect a security interest, the secured party can take possession of the collateral file a negotiable instrument of title give value only sign

1. To perfect a security interest, the secured party can

take possession of the collateral

file a negotiable instrument of title

give value only

sign a warranty of security

2. Andy issues a check in the amount of $500 payable to Cathay Company to pay a debt owed. Cathay negotiates the check to Harry as a gift to Harry, who takes the check without notice of a claim or defense and in good faith. Harry is

a) A Holder in due course

b) not a holder in due course

c) A holder in due course if he is not a minor

d) not a holder in due course because he must pay Cathay

3. Land or anything growing on it is legally

a) Abandoned

b) real property

c) personal property

d) a leasehold estate

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