Question
Obama Barack sells apppliances at his store. On July 17 he borrowed seventy-five thousand dollars for working capital from Capital One Company, which took a
Obama Barack sells apppliances at his store. On July 17 he borrowed seventy-five thousand dollars for working capital from Capital One Company, which took a security interest in all of the equipment and fixtures in the store. On October 1 he purchased forty five thousand dollars worth of inventory from GE Appliance, which financed the sale and made Obama Barack sign a promissory note that gave GE Appliance a security interest in all of the new inventory that was financed by GE. On December 24 Obama Barack purchased an exercise treadmill from Fit Bruh Company, financed by Fit Bruh Company which required that he sign a retail installment financing agreement. He gave the treadmill to his wife Michele as a Christmas gift. 1. What does the UCC require that Capital One do to perfect its security interest. Explain the UCC rule and explain your answer.
2.What does the UCC require that GE Appliance do to perfect its security interest. (10 pts). Explain the UCC rule and explain your answer. 3. What does the UCC require that Fit Bruh Company do to perfect its security interest. Explain the UCC rule and explain your answer.
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