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Question 1

In order to "perfect" its security interest, a PMSI holder must:

Question 2

JoeCo provides brooms to Janitorial Retailer, Inc. ShineTime, Inc. provides Janitorial Retailer, Inc. with the soap it uses to clean its own floors but does not sell to customers. Both JoeCo and ShineTime are secured lenders to Janitorial Retailer, and both have "after acquired" clauses in their contracts. In a dispute, __________ will have a preferred interest in the assets of Janitorial Retailer because:

Question 3

Tim is planning to make a loan to Shauna. Because of the size of the loan, Tim is requiring that Shauna offer up her prized collection of Pez Heads as collateral. In order to most quickly perfect his security interest, Tim would be advised to:

Question 4

Ultimately, the primary goal of "secured transaction" law is to: