Tom sold his business to Shawn York and his company, Yorkompany LLC. The terms were $50,000 down and $50,000 annually until the entire $400,000 sale price was paid. The business was a franchised tax office and the sale included all franchise rights, office equipment, furnishings, signage, and the building in which the business operates. In recording the financing statement (form UCC-1) under the name "Yorkcomapny LLC" Tom thought he had perfected his security interest in the business and all its assets.

What UCC or other credit issues do you see as being relevant in this situation? Has Tom perfected his security interest in all the business's assets according to what we've studied in this week's material? Based on these facts alone, what Is there anything he should do now? What are your thoughts on how well this system works?