Question
ast Loans, Inc. a small loan company, loaned $600 to Morton to purchase a television set for his home. The security agreement between the parties
ast Loans, Inc. a small loan company, loaned $600 to Morton to purchase a television set for his home. The security agreement between the parties provided that pending repayment of the loan the company was to have a security interest in the television set as well as in all other consumer goods thereafter acquired by Morton. Three months later, Morton bought a refrigerator for cash for his home. Morton has now defaulted on the loan to Fast Loans, and the company seeks to seize the refrigerator, which it claims is subject to its security interest.
Select one or more:
a.
The company has a security interest in the refrigerator.
b.
If Morton acquired the refrigerator 30 days after the company made the loan, the company's security interest would attach to the refrigerator.
c.
The company has a purchase money security interest in the television set.
d.
A financing statement must be filed by the company to perfect its security interest in the television set.
e.
Two of the above.
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