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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