Question
Solet's say YOU buy a SONY flat screen HDTV from Best Buy on easy credit terms and sign a security agreement thereby giving Best Buy
Solet's say YOU buy a SONY flat screen HDTV from Best Buy on easy credit terms
and sign a security agreement thereby giving Best Buy an automatically perfected
security interest in these consumer goods. What you did not know, is that Best Buy
purchased this item from SONY as inventory on credit. SONY
made Best Buy execute a written security agreement AND a financing statement which
was properly filed and perfected. ...in otherwordsa Perfected Purchase Money Security
Interest in all HDTV's sold to Best Buy.
Should Best Buy default on its line of credit with SONY can SONY repossess the HDTV
from little old you????
Why or why not???
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