If a Buyer Purchases Chattel Paper or an Instrument in the Ordinary

question 2

Multiple Choice

If a buyer purchases chattel paper or an instrument in the ordinary course of business and he or she is unaware of any security interest in the good,the buyer obtains the good ________.

• A)subject to an unperfected security interest
• B)subject to a perfected security interest by possession
• C)subject to an automatically-perfected security interest
• D)subject to an automatically-perfected security interest and a perfected security interest by possession
• E)free of any security interest

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Definitions:

Wage

The fixed regular payment, typically calculated on an hourly, daily, or piecework basis, received by an employee from an employer.

College Attendance

The act of being enrolled and participating in classes or academic activities in a college or university.

Demand for Professors

The need or desire for academic professionals who teach and conduct research in higher education institutions.

College Professors

Academic professionals who teach, lecture, and conduct research in colleges or universities.