Professional Billers and Coders

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Please Debate this work with anything you think is not your position according to the US Law and refer to which law.

1) Bridgeport Auto needs to file a financing statement to perfect its security interest to finance the sale of the new Toyota 4-Runner to Barton. In my opinion, the six iMacs should have a contract and a financing statement from KDM Electronics because they are not goods for personal use. The amount of money is not small. Maybe it is not mandatory in the state where Brighton Homes is located for this type of good. Still, it could protect KDM Electronics from any future loss for not a payment or another eventuality (Miller, Frederick H 2003).

2) KDM electronics had four months to amend the filing of the financing statement, but according to the case, Barton defaulted six months later, and it was late to change de debtor’s name. On the other hand, Brington Homes could be a sole proprietorship, a partnership, LLC or S-Corporation, and each one has different levels of liabilities. The retailer in this case only can sue Brington Homes, no directly to the owner. Also, Brington Homes could be only the debtor’s trade name, and it would not be sufficient for perfection [UCC 9–503(c)] (Legal Information Institute, Cornell Law School. n.d.).

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3) Because Barton bought all of these items under installment sales contracts, the surround-sound system, the kayak, and the Toyota 4-Runner would qualify as a PMSI in consumer goods. In the case of the Toyota 4-Runner, some additional steps are needed, such as filing the respective financing statement to the State, unlike the other two goods.

4) The surround-sound system sales was perfected automatically by attachment, thus KDM Electronics retains a security interest in the good until full payment has been made; therefore it can recover the unpaid good to keep or re-sale it as an inventory to compensate the credit defaulted.

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