Question
I have the assignment listed below. My three items are my car (have a car loan), furniture (purchased on credit), computer (purchased on credit). I
I have the assignment listed below. My three items are my car (have a car loan), furniture (purchased on credit), computer (purchased on credit). I am not sure when/if attachment and perfection occurred, and what does it mean by "expain the priority the creditors would have"?
In this module, you have learned about securities, as well as when attachment and perfection occurs. For this assignment, think of three items you personally have that involve a security. If you do not actually have any security interests, list three items that you can envision having in the future, and complete the assignment as if you currently hold them.
1. List the three items you chose.
2. For each of the three items, explain if and when attachment occurred.
3. For each of the three items, explain if and when perfection occurred.
4. Explain the priority each of the creditors would have if you defaulted on your promise to pay.
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