3. After reading this chapter, will your future behavior as a businessperson change? What specific steps will you be most careful to take to protect your interests?

4. A perfected security interest is far from perfect. We examined several exceptions to normal perfection rules involving BIOCs, consumer goods, and so on. Are the exceptions reasonable? Should the UCC change to give the holder of a perfected interest absolute rights against absolutely everyone else?

5. After a federal judge refused to dismiss criminal charges against him, Michael Reed took revenge by electronically filing a UCC financing statement listing the judge as the debtor on a $3.4 million loan. Reed himself was listed as the secured party. The lien became part of the public record. Reed was prosecuted for violating a statute prohibiting harassment of public officials. Reed argued that he was innocent because the financing statement did not list collateraland would never have succeeded in perfecting a claim. Is this a good argument?