Assume you are the creditor in each of the following situations. Identify the kind of security agreement that is involved in each transaction and explain how you would perfect that agreement.
a. You are the creditor (Everby Bank), and you lend Brisco Gaines $5,000 for a sound system.
b. First Bank loans Doris $10,000 to purchase inventory for her store.
c. First Bank loans Brad $5,000 to purchase a computer network for use in his store office.
d. Kevin needs cash for gambling debts. He brings in his high-definition TV to secure a $500 loan.

Question

Assume you are the creditor in each of the following situations. Identify the kind of security agreement that is involved in each transaction and explain how you would perfect that agreement. 
a. You are the creditor (Everby Bank), and you lend Brisco Gaines $5,000 for a sound system. 
b. First Bank loans Doris $10,000 to purchase inventory for her store. 
c. First Bank loans Brad $5,000 to purchase a computer network for use in his store office. 
d. Kevin needs cash for gambling debts. He brings in his high-definition TV to secure a $500 loan.

Quizplus · Accepted Answer

The Answer of Assume you are the creditor in each of the following situations. Identify the kind of security agreement that is involved in each transaction and explain how you would perfect that agreement. 
a. You are the creditor (Everby Bank), and you lend Brisco Gaines $5,000 for a sound system. 
b. First Bank loans Doris $10,000 to purchase inventory for her store. 
c. First Bank loans Brad $5,000 to purchase a computer network for use in his store office. 
d. Kevin needs cash for gambling debts. He brings in his high-definition TV to secure a $500 loan.

Assume You Are the Creditor in Each of the Following