Unformatted text preview: perfected if he buys without knowledge of the security interest, for value and for his own personal, family, or household purposes unless prior to the purchase the secured party has filed a financing statement covering such goods." Carrie obviously qualifies as such a buyer. Martin did not file, so it loses even though it has a perfected security interest. 27. The merchant's security interest has priority. A purchase money security interest in noninventory collateral has priority over a prior perfected security interest in the same collateral if it is perfected at the time the debtor receives the collateral or within ten days thereafter. Business Law and the Regulatory Environment, 11E 49...
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This note was uploaded on 04/30/2010 for the course BUSLAW 301 taught by Professor Abu during the Spring '09 term at Abu Dhabi University.
- Spring '09