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When a creditor sells a consumer good to a debtor on a credit basis or a creditor extends a loan to a debtor for the

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When a creditor sells a consumer good to a debtor on a credit basis or a creditor extends a loan to a debtor for the purchase of a consumer goods, the security interest does not perfect automatically, instead, the secured party must file a financing statement in order for the security interest to perfect. True or False True False

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