Which of the following statements is true of change of possession?
A) It is the most common way of perfecting a security interest.
B) It is the only way to perfect a security interest in money.
C) It is the most convenient way of perfecting a security interest in consumer goods.
D) It is not a practical method of perfecting security interests in commercial collateral.

Question

Quizplus · Accepted Answer

A security interest in money can be perfected by change of possession. Change of possession is not a common or convenient way for perfecting most security interests in consumer goods. It is more practicable for perfecting security interests in commercial collateral. In fact, it is the only way to perfect a security interest in money.

Which of the Following Statements Is True of Change of Possession