Security Interest in Consumer Goods purchased from Consumers

Security Interest in Consumer Goods purchased from Consumers

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video tutorial explains the protection offered to consumers under UCC 9-320B when purchasing goods that may be subject to a security interest. It outlines the conditions under which a consumer can take goods free of a secured party's interest, such as the goods being for personal use, the absence of knowledge of a security interest, and no financing statement being filed. The tutorial also discusses the concept of automatic perfection and its implications for consumers.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What role does knowledge of a security interest play in the protection of a consumer purchasing goods?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

How does the filing of a financing statement affect the consumer's protection under 9-320B?

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