Question
19. Mill Corp. is in the business of selling computers and computer software to the public. Mill sold and delivered a personal computer to White
19. Mill Corp. is in the business of selling computers and computer software to the public. Mill sold and delivered a personal computer to White on credit. White executed and delivered to Mill a promissory note for the purchase price and a security agreement covering the computer. If White purchased the computer for personal use and Mill fails to file a financing statement, which, if any, of the following statements is correct? And Why?
a) The computer was a consumer good while in Mill's possession.
b) Perfection of Mill's security interest occurred at the time of attachment.
c) Mill's security interest is not enforceable against White because Mill failed to file a financing statement.
d) Mill does not have a perfected security interest because it failed to file a financing statement.
e) None of the above are correct.
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