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Back to Edwards and Smiths original transaction, where Smith took whatever steps were necessary to perfect his security interest in the $100,000 tractor no later

Back to Edwards and Smiths original transaction, where Smith took whatever steps were necessary to perfect his security interest in the $100,000 tractor no later than January 16, 2020 and that Edwards was current on her payments through April 24, 2020. Instead of trading the TG285 Tractor to Jones Farm Equipment on April 24, 2020, Edwards sold the TG285 Tractor to a neighbor, Mary Todd, for $75,000 cash and deposited the cash in his bank account with a prior balance of $15,000. Then on May 1, 2020, Edwards purchased a small tractor from Jones Farm Equipment for $60,000, to use on Edwardss weekend farm in Douglas County. Edwards wrote Jones a check in the amount of $30,000, drawn on the aforementioned bank account, and agreed to pay Jones the balance due in installments of $1,000 per month for 36 months, giving Jones a security interest in the small tractor to secure Edwardss obligation to make the installment payments. Assume that Jones properly perfected her security interest in the tractor on May 1, 2020. Does Smith still have a security interest in the TG285 Tractor that Mary bought? Need a full analysis. (Worth 15 points)

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