Author Question: To perfect a security interest in a negotiable document, Second State Savings and Loan should A) ... (Read 46 times)

BrownTown3 · **on:** Jun 24, 2018

To perfect a security interest in a negotiable document, Second State Savings and Loan should
A) file a financing amendment.
B) take possession of the instrument.
C) do nothing. Perfection is automatic.
D) secure a court order.

Question 2

Donna defaulted on her loan owed to Second State Savings and Loan. The loan was secured with Donna's car. Donna used the car for personal and family reasons. Which statement is correct?
A) Second State may take Donna's car without a court order if this can be done without a breach of the peace.
B) Second State may take Donna's car without a court order even if it means a breach of the peace.
C) Second State may not take Donna's car because it is a consumer good.
D) Second State may not take Donna's car because perfection was automatic.