A Purchase Money Security Interest

question 100

Multiple Choice

A purchase money security interest

• A) will be automatically subordinate to any general security agreeement, even if registered within the specified time period.
• B) will prevail over a general security agreement covering all of a merchant's assets, if it registered within the specified time period.
• C) is also known as floating charge.
• D) is now obsolete, in light of the Personal Property Security Act.
• E) is prohibited in most provinces.

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Definitions:

Charisma

A unique ability some individuals have to inspire enthusiasm, interest, or affection in others through personal magnetism or charm.

Referent Power

A form of influence derived from the charisma and interpersonal appeal of the leader, often leading to admiration and the desire to emulate.

John F. Kennedy

The 35th President of the United States, serving from January 1961 until his assassination in November 1963, known for his contributions to civil rights and space exploration.

Informal Authority

Influence and power within an organization that stems from personal attributes or relationships, rather than formal position.