Temporary Automatic Perfection in Proceeds of Sale of Goods

Temporary Automatic Perfection in Proceeds of Sale of Goods

Assessment

Interactive Video

Business, Social Studies

University

Hard

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The video tutorial explains the concept of security interests in goods and the proceeds from their sale. It covers how a secured party can maintain a perfected security interest in proceeds, whether they are cash or goods, and the importance of filing a financing statement. The tutorial also discusses the challenges of identifying proceeds when they are intermingled with other funds or properties and provides methods to ensure continued perfection of security interests.

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5 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What happens to the security interest when a debtor sells collateral?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

Explain how a secured party can maintain perfection in proceeds received from the sale of goods.

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3.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the implications of intermingling funds for a secured party's interest?

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4.

OPEN ENDED QUESTION

3 mins • 1 pt

Describe the process for extending a perfected security interest beyond the 20-day window.

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5.

OPEN ENDED QUESTION

3 mins • 1 pt

What are the three primary methods for continuing perfection of a security interest in proceeds?

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