Javier Buys a 3D TV and a DVR from West

question 44

Multiple Choice

Javier buys a 3D TV and a DVR from West Coast Sales. West Coast agrees to lend him 90 percent of the purchase price. Their agreement is known as a(n) : ______.

• A) a purchase money security interest.
• B) a future transaction.
• C) a floating lien.
• D) transferred collateral interest.

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Definitions:

Affidavit

A written statement made under oath, used as evidence in court.

Registered Agent

A person or business designated to receive legal documents and service of process on behalf of a company.

Corporation

A legal entity that is separate from its owners, with its own rights and obligations, and can conduct business, enter contracts, sue, and be sued.

Social Security Offices

Government facilities where individuals can obtain assistance with Social Security benefits and services.