Secured Transactions Flashcards
- Which is the true classification of goods under UCC Article 9?
a. Consumer goods, instruments, and inventory.
b. Accounts, equipment, inventory, unextracted minerals.
c. Consumer goods, equipment, farm products, inventory.
d. Accounts, consumer goods, equipment, inventory.
c. Consumer goods, equipment, farm products, inventory
Commercial Paper Intangible property (Account)
산 목적에 따라서
Goods
1) Consumer goods
2) Inventory: Resale 목적
3) Equipment: 업무용
4) Farm Product
- Case Corporation manufactures electric drills and sells them to retail hardware stores. Under the Uniform Commercial Code, it is likely that
a. The drills are inventory in Case’s hands.
b. The drills are equipment in Case’s hands.
c. The raw materials on hand to be used in the manufacturing of the drills are not inventory in Case’s hands.
d. The drills are considered equipment in the hands of the hardware stores who purchased them.
a. The drills are inventory in Case’s hands.
retail = inventory
- Under the UCC Secured Transactions Article, for a security interest to attach, the
a. Debtor must agree to the creation of the security interest.
b. Creditor must properly file a financing statement.
c. Debtor must have title to the collateral.
d. Creditor must be in possession of part of the collateral
a. Debtor must agree to the creation of the security interest.
attachment
담보권의 설정
압류 (VCR)
우선권 생김
a. 동의 필요
Right만 필요 소유권은 필요 없음
must 때문에 아님
- On March 1, Green went to Easy Car Sales to buy a car. Green spoke to a salesperson and agreed to buy a car that Easy had in its showroom. On March 5, Green made a $500 down payment and signed a security agreement to secure the payment of the balance of the purchase price. On March 10, Green picked up the car. On March 15, Easy filed the security agreement. On what date did Easy’s security interest attach?
a. March 1.
b. March 5.
c. March 10.
d. March 15.
b. March 5.
선금냄-3/5 계약 V,C,R
실질적 권한 생긴날 가져온게 아니라
pick-up 3/10
담보권 설정
- Perfection of a security interest permits the secured party to protect its rights by
a. Avoiding the need to file a financing statement.
b. Preventing another creditor from obtaining a security interest in the same collateral.
c. Establishing priority over the claims of most subsequent secured creditors.
d. Denying the debtor the right to possess the collateral.
c. Establishing priority over the claims of most subsequent secured creditors.
Perfection=recording 등기
완성
- Under the UCC Secured Transactions Article, which of the following actions will best perfect a security interest in a negotiable instrument against any other party?
a. Obtaining control.
b. Taking possession of the instrument.
c. Perfecting by attachment.
d. Obtaining a duly executed financing statement.
b. Taking possession of the instrument.
1) Automatic Performance in Consumer goods
2) Possession
3) Filing
- Taso Corp. sells laptop computers to the public. Taso sold and delivered a laptop to Cara on credit. Cara gave Taso a purchase money security interest in the laptop by executing and delivering to Taso a promissory note for the purchase price and a security agreement covering the laptop. Cara purchased the laptop for personal use. Taso did not file a financing statement. Under the Secured Transactions Article of the UCC, is Taso’s security interest perfected?
a. No, because the laptop is a consumer good.
b. No, because Taso failed to file a financing statement.
c. Yes, because it was perfected at the time of attachment.
d. Yes, because Taso retained possession of the collateral.
c. Yes, because it was perfected at the time of attachment.
the laptop for personal use.
PMSI-attachment만하면 된다
did not file a financing statement.
- Under the Secured Transactions Article of the UCC, a financing statement generally must contain
a. The signature of a witness to the execution of the financing statement.
b. The dollar amount of the consideration provided by the secured party.
c. The date the underlying debt will be paid.
d. The name of the debtor.
d. The name of the debtor.
- Roth and Dixon both claim a security interest in the same collateral. Roth’s security interest attached on January 1, and it was perfected by filing on March 1. Dixon’s security interest attached on February 1, and it was perfected on April 1 by taking possession of the collateral. Which of the following statements is true?
a. Roth’s security interest has priority because Roth perfected before Dixon perfected.
b. Dixon’s security interest has priority because Dixon’s interest attached before Roth’s interest was perfected.
c. Roth’s security interest has priority because Roth’s security interest attached before Dixon’s security interest attached.
d. Dixon’s security interest has priority because Dixon is in possession of the collateral.
a. Roth’s security interest has priority because Roth perfected before Dixon perfected.
Perfection Date확인
3/1, 4/1
Roth가 우선권
- Mozart Pianos has a perfected security interest in pianos owned by the Virtuoso Piano School. Virtuoso sends one of the pianos to Rachmaninoff Repair Service, which makes extensive repairs to the instrument. Virtuoso is unable to make payment for the repairs, and the piano remains in Rachmaninoff’s possession. A state statute establishes an artisan’s lien but is silent with regard to priority as against a perfected security interest.
a. Rachmaninoff will prevail in a priority contest because the statute did not expressly provide that the security interest took priority.
b. Mozart will prevail because its interest was perfected before Rachmaninoff gained possession.
c. Mozart will prevail because its interest was first in time.
d. Rachmaninoff will prevail because it has perfected by possession, which is superior to perfection by filing.
a. Rachmaninoff will prevail in a priority contest because the statute did not expressly provide that the security interest took priority.
repairs to the instrument
is unable to make payment for the repairs
an artisan’s lien 시계 고치러 감 돈 받을 때까지 잡고 있을 수 있음 판다고 notice했는데 안 갚으면 팔 수 있다
priority as against a perfected security interest
- Which of the following statements about a debtor’s notice for foreclosure sales is false?
a. Notice is not required if the collateral is normally sold on a recognized market.
b. A debtor may waive the right to notice of the sale.
c. Notice is reasonable if it allows the debtor adequate time to protect his or her interests.
d. Notice required for a public disposition is the same as notice required for a private disposition.
d. Notice required for a public disposition is the same as notice required for a private disposition.
foreclosure sales
담보 맡긴 사람 갚을 능력 없을 때
Public, Private 둘 다 가능
a. 조건 같은 것 아님
