(Solution) - True or False 1 A party with a perfected security -(2025 Original AI-Free Solution)

Paper Details

True or False:
1. A party with a perfected security interest takes priority over a party with an unperfected interest.
2. A buyer in ordinary course of business takes goods free of an unperfected security interest, but does not take them free of a perfected security interest.
3. When a debtor defaults, a secured party may seize the collateral and hold it, using reasonable care, but may not sell or lease it.
4. A party may take a security interest in tangible things, such as goods, but not in intangible things, such as bank accounts.
5. Without an agreement of the parties there can be no security interest.