Question
You want to buy a new TV and surround sound system for your home. Best Buy offers to sell you a Samsung 54-inch TV and
You want to buy a new TV and surround sound system for your home. Best Buy offers to sell you a Samsung 54-inch TV and 2 external Bose speakers for $2,400.
If you finance it on your Best Buy store account, you can pay $200 per month for 12 months with no interest. You can accelerate payment and pay the balance anytime within the 12-month period. You buy the TV and speakers.
- What is the name of the security interest obtained by Best Buy in this transaction?
Answer: ___________________
(b) Does Best Buy have to file a Financing Statement (UCC-1) to perfect its security interest?
Yes or No?
Answer: _______
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Audit Planning Conduct And Closure Of Issues For Successful Resolution
Authors: Bincy Abraham, Imran Chaki, Naisarg Pujara
1st Edition
6200484961, 978-6200484963
