If a Buyer Purchases Chattel Paper in the Ordinary Course

question 58

True/False

If a buyer purchases chattel paper in the ordinary course of business and is unaware of any applicable security interest, the buyer can obtain the good free of any security interest.

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Definitions:

Production Costs

The total expenses incurred in the manufacture of a product or the delivery of a service, including labor, materials, and overhead costs.

Unemployment Data

Statistical information that measures the number of people who are actively seeking work but cannot find employment, reflecting the health of an economy.

Labor-Force Participation

The percentage of the population that is of working age, willing, and able to work, and is either employed or actively seeking employment.

Unemployment Rates

The slice of the labor market that is not working but is trying to find employment.