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Jennifer Garner needs $2,500 to purchase textbooks, online materials, and other school supplies. Charlie Pride agrees...

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General Management

Jennifer Garner needs $2,500 to purchase textbooks, onlinematerials, and other school supplies. Charlie Pride agrees to loanJennifer $2,500, accepting as collateral Jennifer’s car. They puttheir agreement in writing and sign it. Jennifer keeps possessionof the car. Does Charlie have an enforceable security interest?What is required? How can Charlie let other creditors know of hisinterest in the car? How is this properly accomplished? Explainfully

Answer & Explanation Solved by verified expert
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answer Creditor must meet three requirements to have enforceable security interest 1There must be a written or authenticated security agreement that clearly describes the collateral subject to the security interest and is signed or authenticated by the debtor 2The    See Answer
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