Question

Which of the following is automatically perfected? Group of answer choices Ann borrows cash from the bank using her wedding ring as collateral. Ann buys a home entertainment center from Shebee Supply on credit whereby the security agreement states that the center is the collateral Ann buys a horse from Shebee Supply for cash Ann buys a home washing machine from Shebee Supply on credit using her credit card

Answer 1

A perfected security interest is a secure interest in an asset owned solely by the borrower and must be registered with the appropriate statutory authority.

Answer :

Ann buys a home entertainment center from Shebee Supply on credit whereby the security agreement states that the center is the collateral.

In this option all the steps in terms of filling of all documents to present a case to a court of appeals is taken. Also, it is clearly mentioned in the security agreement.