Asked by
Dacia Edwards
on Dec 20, 2024Verified
A security interest:
A) is an interest only in personal property to secure payment or performance of an obligation.
B) is effective against third parties, but not the debtor, when it "attaches."
C) may arise in fixtures under UCC Article 9.
D) in fixtures, even if perfected, will not have priority over a mortgage in the real property to which the goods are attached.
Security Interest
A legal claim or liens on property as collateral for the payment of a debt or performance of some other obligation.
Personal Property
Movable assets or belongings, excluding real estate and buildings, owned by an individual or entity.
Third Parties
Individuals or entities that are not directly involved in a contract or negotiation but may be affected by its outcomes or have an interest in its terms.
- Understand the privileges of buyers and sellers in transactions concerning properties with security interest.
Verified Answer
RB
Learning Objectives
- Understand the privileges of buyers and sellers in transactions concerning properties with security interest.