According to the Uniform Commercial Code,what Happens If a Buyer

question 33

Multiple Choice

According to the Uniform Commercial Code,what happens if a buyer of a consumer good subject to purchase-money security interest later sells the good?

• A)The security interest immediately terminates.
• B)The security interest passes to the new buyer.
• C)Regardless of whether the new buyer is aware of the security interest,the security interest terminates if the sale to the buyer is made before the original secured party files a financial statement.
• D)As long as the new buyer is not aware of the security interest,purchases the good for his or her personal use,and purchases the good before the secured party files a financial statement,the buyer obtains the good free of the security interest.
• E)As long as the new buyer is not aware of the security interest,purchases the good for resale,and purchases the good before the secured party files a financial statement,the buyer obtains the good free of the security interest.

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Definitions:

European Involvement

The participation or intervention of European countries in international affairs, conflicts, colonization, or agreements.

King Cotton Diplomacy

The strategy by the Confederate States during the American Civil War to encourage British and French support by leveraging cotton exports.

French Support

Assistance provided by France to various causes and nations, notably including the aid given to the American colonists during the Revolutionary War.

British Support

Refers to assistance or backing provided by the United Kingdom to various entities or causes, historically significant during events like the American Revolutionary War and World Wars.