Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jeff Harris owns an appliance store. On January 1 he borrowed 50,000 dollars for improvements to the store from BBT, who took a security interest

image text in transcribed

image text in transcribed
Jeff Harris owns an appliance store. On January 1 he borrowed 50,000 dollars for improvements to the store from BBT, who took a security interest in all of the equipment and fixtures in the store. On February 1 2013, Jeff purchased on credit, 20,000 dollars worth of inventory from Appliance Maker Inc, who had Jeff sign a promissory note that gave Appliance Maker a security interest in all of the inventory sold to Jeff. On March 1, Jeff purchased a top of the line Smart T.V. from Best Buy, on credit, and gave it to his wife as an anniversary present. 1. What did BBT have to do to perfect its security interest. (10 pts) 2.What did Appliance Maker have to do to perfect its security interest. (10 pts) 3. What did Best Buy have to do to perfect its security interest. (10 pts)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Law Express Employment Law

Authors: David Cabrelli

7th Edition

1292295252, 978-1292295251

More Books

Students also viewed these Law questions

Question

Personal role: This consists of service to family and friends.

Answered: 1 week ago

Question

The role of life: It consists of your own service to yourself.

Answered: 1 week ago