Question
Jerry Attrick purchased a dining room set from a local furniture store for $1200.00.He signed at security agreement as part of the financing arrangementgiving the
Jerry Attrick purchased a dining room set from a local furniture store for $1200.00.He signed at security agreement as part of the financing arrangementgiving the store a security interest in the set.A few months later Jerry decides to sell the set as party of his garage sale. Jerry's neighbor, Dee Mented, purchased the set for her home for $300.Dee had noknowledge that Carlos had signed a security agreement giving the furniture store a security interest in the set. No financing statement was filed. Jerry still owed $300 on the the purchase money security interest.
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