On May 1, 1990, the president of Dixie Corp. confirmed the terms of a loan between Dixie and NICE Bank whereby Dixie would borrow $200,000 from the Bank and provide inventory as collateral. On that same day the bank properly filed a financing statement. On May 5, Dixie signed a security agreement granting bank a security interest in its inventory and received the $200,000. The bank's security interest in Dixie's inventory:

Select one:

a. Was perfected on May 1.

b. Cannot be perfected until a copy of the security agreement is filed with the Secretary of State.

c. Was perfected on May 5.

d. Attached on May 1.

e. None of the above

Which of the following is most likely to be considered a validoffer?

Select one:

a.

Doctor Williams tells his patient his wrist should heal in one month.

b.

Ralph's grocery store advertises ground beef at $5.49/lb.

c.

An uncle promises his 18 year old nephew $5,000 if the nephew refrains from smoking or for six months.

d.

George tells Joe: "I'd sure like to sell my car for $10,000."