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A purchase-money security interest in consumer goods is perfected automatically at the time of a credit...

A purchase-money security interest in consumer goods is perfected automatically at the time of a credit sale true or false

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Answer #1

Answer = True

Reason = Generally , A purchase money security interest arises when a seller extend the credit on all or part of the goods at purchase Price which is purchased by the buyer but there is an exception to this , that a purchase money security interest in consumer goods is perfected automatically at the time of credit sale for example in the case of automobiles.

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