The Owner of Potter's Pottery Also Purchased Two Laptop Computers

question 74

Multiple Choice

The owner of Potter's Pottery also purchased two laptop computers under the name "Potter's Pottery" from BigBox Store for use in the store. Does BigBox Store's security interest automatically perfect?

• A) Yes, even though the laptops are used primarily for business, the laptops are consumer goods.
• B) Yes, because the laptops are consumer goods, and, for public policy reasons, the security interest in them will always perfect automatically.
• C) No, the laptops are purchased for business use and the secured party would have to file a financing statement to perfect the security interest in them.
• D) No, the laptops are purchased for business use and the secured party would have to make a notation on the title to perfect the security interest in them.
• E) No, even though the laptops are used primarily for business, the laptops are consumer goods and the secured party would have to file a financing statement to perfect the security interest in them.

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Definitions:

George H.W. Bush

The 41st President of the United States, serving from 1989 to 1993, known for his leadership during the end of the Cold War and the Gulf War.

Berlin Wall

A fortified barrier that divided Berlin from 1961 to 1989, built by the German Democratic Republic (East Germany) to prevent East Germans from fleeing to West Berlin and West Germany.

East Germany

Officially the German Democratic Republic (GDR), a state that existed from 1949 to 1990 in the eastern part of Germany, established after World War II and during the Cold War.

CIA

The Central Intelligence Agency, a civilian foreign intelligence service of the federal government of the United States, tasked with gathering, processing, and analyzing national security information.