Author Question: Bagsby owns a business selling insects for organic gardening. Bagsby is seeking a loan from First ... (Read 45 times)

cartlidgeashley · **on:** Jun 24, 2018

Bagsby owns a business selling insects for organic gardening. Bagsby is seeking a loan from First Natural Bank. The loan officer is asking that the loan be secured by Bagsby's inventory of insects, now owned or hereafter acquired. In order to do this, a new security agreement will need to be signed each time Bagsby gets new insects or sells his insects.
Indicate whether the statement is true or false

Question 2

A PMSI in consumer goods perfects automatically, without filing.
Indicate whether the statement is true or false