A Purchase Money Security Interest in Noninventory Collateral Prevails Over

question 2

Multiple Choice

A purchase money security interest in noninventory collateral prevails over a prior perfected security interest if:

• A)the purchase money security interest is perfected at the time the debtor takes possession or within 20 days afterward.
• B)the purchase money secured party gives notification in writing to the prior secured creditor before the debtor receives the inventory.
• C)the holder of the competing security interest received notification within five years before the debtor receives the inventory.
• D)the notification states that the person expects to acquire a purchase money security interest in inventory of the debtor and describes the inventory.

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Definitions:

Asymmetric Fold

A geological fold where the two sides are uneven or asymmetrical, typical in areas of complex tectonics.

Subduction Zone

A region of the Earth's crust where two tectonic plates meet and one is forced below the other into the mantle, leading to volcanic activity and earthquakes.

Tilted Blocks

Geologic structures formed by the tilting of rock layers, often due to tectonic forces, creating an angle with the horizontal.

Anticlines

Upwardly convex folds in rock layers that typically have the oldest layers at their core.