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Jennifer Garner needs $2,500 to purchase textbooks, online materials, and other school supplies. Charlie Pride agrees to loan Jennifer $2,500, accepting as collateral Jennifers car.
Jennifer Garner needs $2,500 to purchase textbooks, online materials, and other school supplies. Charlie Pride agrees to loan Jennifer $2,500, accepting as collateral Jennifers car. They put their agreement in writing and sign it. Jennifer keeps possession of the car.
Does Charlie have an enforceable security interest? What is required? How can Charlie let other creditors know of his interest in the car? How is this properly accomplished? Explain fully
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