Single-Purpose Cards Issued by a Specific Merchant or Merchant Group

question 9

Multiple Choice

Single-purpose cards issued by a specific merchant or merchant group that can only be used to make purchases from that merchant or merchant group best describes

• A) location-based cards.
• B) dedicated cards.
• C) open-loop cards.
• D) closed-loop cards.

Recognize the essential elements and legal effects of financing statements in secured transactions.

Distinguish between different classifications of collateral, including inventory, equipment, and consumer goods, based on the UCC.

Explain the methods for perfecting a security interest, including possession and public filing, and their implications.

Describe the rights of a buyer in the ordinary course of business under the UCC.