Mike Purchases a Bicycle from Bikes R Us on Credit,and

question 37

Essay

Mike purchases a bicycle from Bikes R Us on credit,and signs a financing statement.Bikes R Us does not record the statement.After a job transfer,Mike decides not to take the bike with him,and he sells the bike to Mario.Mike still has payments due,but Mario has no idea that money is still owed.Mario purchased the bike to use in his bicycle touring company,which he operates for profit on a part-time basis.If Bikes R Us can locate Mario and the bike,can they repossess it?