Article a purchase money security interest

Assignment Help Business Law and Ethics

Reference no: EM133312901

Assignment:

Under UCC Article 2, a "purchase money security interest" (PMSI) exists and is perfected under which circumstance?

Question:

1.) The collateral subject to the PMSI is a flat-screen television, the amount of the PMSI is the price paid for the television, and the seller/holder of the PMSI has not filed.

2.) The collateral subject to the PMSI is a flat-screen television, the amount of the PMSI is the price paid for the television, and a finance company/holder of the PMSI has not filed.

3.) The collateral subject to the PMSI is an industrial boiler, the amount of the PMSI is the price paid for the boiler plus an additional $300 which the buyer owed the seller from a previous purchase, and the seller/holder of the PMSI has not filed.

4.) The collateral subject to the PMSI is an industrial boiler, the amount of the PMSI is the price paid for the boiler, and the seller/holder of the PMSI has not filed.

Reference no: EM133312901

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