Question

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

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.

PLEASE GIVE YOUR VALUABLE REVIEWS ABOUT THE ANSWER IN THE COMMENT BOX AND YOU CAN ALSO GIVE THUMBS UP IF YOU LIKE THE ANSWER. THANK YOU