Which of the Following Is True Under the UCC If

question 76

Multiple Choice

Which of the following is true under the UCC 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 buyer is aware of the security interest, the security interest terminates if the sale to the new buyer is made before the original secured party files a financial statement.
• D) As long as the 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 new buyer obtains the good free of the security interest.
• E) As long as the 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:

Peripheral Nervous System

The part of the nervous system outside the brain and spinal cord, responsible for connecting the central nervous system to limbs and organs.

Central Nervous System

The part of the nervous system consisting of the brain and spinal cord, responsible for processing information and controlling responses.

Nissl Bodies

Structures within the cytoplasm of neurons that are associated with ribonucleic acid (RNA) and protein synthesis.

Rough Endoplasmic Reticulum

A network of tubular membranes within the cytoplasm of the cell studded with ribosomes involved in the synthesis of proteins.