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Question 18 (10 points) Abby decided she wanted to grant a security interest in goods she personally possessed to Jeff D. Smith. Jeff had not

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Question 18 (10 points) Abby decided she wanted to grant a security interest in goods she personally possessed to Jeff D. Smith. Jeff had not had any prior dealings with Abby and did not have any expectations that he would deal with Abby in the future. Nevertheless, Jeff was willing to have Abby grant him a security interest in the goods. Abby and Jeff wrote up a short agreement that said, "I grant Jeff D, Smith a security interest in my goods." The agreement also specifically described the goods (with great specificity). Abby signed the document and gave it to Jeff. Abby, in fact, personally owned the goods at the time she signed the agreement. Abby did not do any of this because she expected anything from Jeff. Instead, Abby was going through a difficult time with her business partner. Abby was afraid that her partner would obtain a money judgment against Abby from a court. Abby wanted to make it difficult for her business partner to collect any such court judgment. Abby concluded that having Jeff hold a security interest in the property would potentially make it difficult for her business partner to seize the goods to collect on any court judgment. Have Abby and Jeff created security interest that has attached? Yes No

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