Anders Runs a Piano Store

question 27

Essay

Anders runs a piano store.In order to finance his business, he has an operating line of credit from the New Brunswick Bank.His obligations to the bank are secured by security interest in all of his assets, but he is permitted to sell pianos.The bank has perfected its security interest by filing a financing statement under the New Brunswick Personal Property Security Act.Anders sells a piano to Mac.Does Mac get the piano free of the security interest that Anders has given to the bank?

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Definitions:

Rapid-eye-movement Sleep

A phase of sleep characterized by rapid movements of the eyes, low muscle tone throughout the body, and the propensity of the sleeper to dream vividly.

Deep Sleep

A phase of sleep characterized by slow brain waves, known as delta waves, during which recuperation and memory consolidation occur.

Immaturity

A lack of development in emotional, physical, or intellectual aspects, resulting in behavior considered inappropriate for an individual's age.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, controlling and coordinating bodily functions.