Emery Entrepreneur purchases a laptop computer for $1995 from the local Better Buy electronics store. The store has a cu
Posted: Sun Apr 17, 2022 6:27 pm
Emery Entrepreneur purchases a laptop computer for $1995 from
the local Better Buy electronics store. The store has a current
deal offering "instant credit," for new laptop purchases, with no
finance charges if the laptop is paid off within a year from the
date it was purchased. Emery purchased the laptop for use in his
mobile pet grooming business, Sudsy Puppies. Emery keeps the laptop
in the van he drives to his clients' homes while working. He uses
it to process payments and keep track of appointments. Emery spends
around 20 hours a week using the laptop to support Sudsy Puppies.
Emery's favorite hobby is playing the internet game "Fortnight."
Although Emery purchased the laptop to use with Sudsy Puppies, he
spends around 10 hours each week playing this online video game.
The year goes by fast, and Emery actually doesn't pay off the
credit balance on the laptop purchase. Better Buy's credit
department has made numerous attempts to collect payment from
Emery, but at this time Emery has not paid the debt. Does Better
Buy have a perfected security interest in the laptop computer? If
not, why not? If so, what advantage(s) does that afford Better
Buy?
the local Better Buy electronics store. The store has a current
deal offering "instant credit," for new laptop purchases, with no
finance charges if the laptop is paid off within a year from the
date it was purchased. Emery purchased the laptop for use in his
mobile pet grooming business, Sudsy Puppies. Emery keeps the laptop
in the van he drives to his clients' homes while working. He uses
it to process payments and keep track of appointments. Emery spends
around 20 hours a week using the laptop to support Sudsy Puppies.
Emery's favorite hobby is playing the internet game "Fortnight."
Although Emery purchased the laptop to use with Sudsy Puppies, he
spends around 10 hours each week playing this online video game.
The year goes by fast, and Emery actually doesn't pay off the
credit balance on the laptop purchase. Better Buy's credit
department has made numerous attempts to collect payment from
Emery, but at this time Emery has not paid the debt. Does Better
Buy have a perfected security interest in the laptop computer? If
not, why not? If so, what advantage(s) does that afford Better
Buy?