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(Secured Transactions) Stanley Johnson operates a business that sells decorative items for the office. Eight months ago, Mr. Johnson borrowed $10,000 from U.S. Bank and, pursuant to a properly completed and signed security agreement , granted U.S. Bank a security interest in all of Johnsons present and future inventory secured that indebtedness. U.S. Bank signed and properly filed the completed financing statement on the same day that the loan was made. Seven months ago, Clockwork entered into a signed agreement pursuant to which Johnson bought and received delivery of 25 clocks for resale to Johnsons customers. Under the terms of the agreement, Johnson agreed to pay the $2,500 purchase price in six months. No financing statement was filed in conjunction with this transaction. Three months ago, Johnson purchased, on credit, an industrial vacuum cleaner from VacPlus for use in Johnsons business. VacPlus and Johnson signed a security interest agreement. VacPlus properly filed that agreement. Johnson has defaulted on all obligations to U.S. Bank, Clockwork, and VacPlus.

Required:

Has there been attachment with all three-credit transaction?

Explain in detail.

Is there perfection in all three credit transactions?

Who has superior interests in the clocks and why?

Who has a superior interest in the vacuum and why?

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