Although ConstructCo Has Already Entered into a General Security Agreement

question 21

Multiple Choice

Although ConstructCo has already entered into a general security agreement with BigBank that grants a security interest in all of its existing and after acquired personal property,Alpha Lending Inc has agreed to lend ConstructCo $15,000 to purchase a new forklift.What is the name of the type of security interest that would best serve Alpha Lending Inc in these circumstances?

• A) letter of credit
• B) purchase money security interest
• C) debenture
• D) indemnity agreement

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