Quotient Financial Corporation Is a Secured Party with a Security

question 61

Multiple Choice

Quotient Financial Corporation is a secured party with a security inter-est in property owned by Retail Sales Company. Perfection of this secu-rity in-ter-est may not protect Quotient Financial against the claim of

• A)a bank.
• B)a buyer in the ordinary course of business.
• C)a subsequent lien creditor.
• D)a trustee in bankruptcy.

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Definitions:

Override

To use authority to reject or cancel a decision, order, or law.

Congress

The national legislative body of the United States, consisting of two chambers: the House of Representatives and the Senate.

Organizational Chart

A diagram that displays the structure of an organization, detailing the roles, responsibilities, and relationships between individuals within the entity.

Internal Structure

The way in which an organization or system is arranged, including the relationships between its components and the distribution of authority and responsibilities.