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Rally Co. has purchased some inventory from Kantar Corporation to sell to customers who will use the inventory primarily for consumer use. Which of the following is not correct? If Kantar sells the...

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Rally Co. has purchased some inventory from Kantar Corporation to sell to customers who will use the inventory primarily for consumer use. Which of the following is not correct?

  1. If Kantar sells the inventory to Rally on credit and takes out a security interest using the inventory as collateral, this a purchase money security interest.
  2. If Kantar sells the inventory to Rally on credit and takes out a security interest using the inventory as collateral, this is a purchase money security interest in consumer goods.
  3. If Kantar sells the inventory to Rally but Rally pays for it by getting a loan from a bank who takes out a security interest using the inventory as collateral, this is a purchase money security interest.
  4. If a customer purchases some inventory on credit from Rally for home use and signs a written security agreement presented by Rally that lists the inventory as collateral for the credit, this is a purchase money security interest in consumer goods.
Answered Same DayDec 31, 2021

Solution

Robert answered on Dec 31 2021
81 Votes
Rally Co. has purchased some inventory from Kantar Corporation to sell to customers who will
use the inventory primarily for consumer use. Which of the following is not co
ect?
1. If Kantar sells the inventory to Rally on credit and takes out a security interest using the
inventory as collateral, this a purchase money security interest.
2. If Kantar sells the inventory to Rally on...
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