According to the Uniform Commercial Code (UCC),a Purchase Money Security

question 4

Multiple Choice

According to the Uniform Commercial Code (UCC) ,a purchase money security interest (PMSI) exists in all but which of the following situations?

• A)When a security interest is retained or taken by the seller of the collateral to secure part of the purchase price
• B)When a security interest is retained or taken by the buyer of the collateral to secure the seller's fulfillment of an express or implied warranty
• C)When a security interest is retained or taken by the seller of the collateral to secure all of the purchase price
• D)When a security interest is retained or taken by a person who gives something of value to the debtor so that the debtor can gain rights to the collateral
• E)When a security interest is retained or taken by a person who gives something of value to the debtor so that the debtor can gain use of the collateral

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