Automatic perfection would occur in which situation (assuming a written security agreement)?
A) Mandi buys a refrigerator for her apartment on credit.
B) Glenn buys a computer for his office on credit.
C) Hank buys a computer for his office by borrowing the money for the purchase.
D) Cicely buys inventory for her home-based sewing business.

Question

Quizplus · Accepted Answer

Automatic perfection occurs when a security interest in consumer goods is perfected upon attachment without the need for filing a financing statement or taking possession of the collateral. Mandi's purchase of a refrigerator for her apartment on credit is an example of a consumer good transaction where automatic perfection would apply.

Automatic Perfection Would Occur in Which Situation (Assuming a Written