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When Rosetta bought a new car from Champollion Motors, she traded in her 5-year old car, made a $200 down payment by giving the dealer
When Rosetta bought a new car from Champollion Motors, she traded in her 5-year old car, made a $200 down payment by giving the dealer her check and signed a promissory note for the balance payable to the dealership. The Bank had a security interest in Champollion's inventory.
- Is the attachment of the creditor's security interest in the proceeds automatic or must they be claimed in the original security agreement?
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