To Take Goods Free of Any Security Interest,a Buyer in the Ordinary

question 58

True/False

To take goods free of any security interest,a buyer in the ordinary course of business cannot know about the interest.

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Definitions:

Accounting Formula

The formula that is considered the basis for all financial accounting, which is assets minus liabilities equals net worth.

Net Worth

The total value of an individual's or entity's assets minus liabilities, representing financial health.

Accounts Receivable

Money owed to a business by its clients or customers for goods or services that have been delivered or used but not yet paid for.

Outstanding Amounts

The total sums of money that are owed or pending payment.