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Question
An appliance store sells a television set to Adam for $750 on a conditional sales contract, reserving a security interest in the set until Adam has paid for it. The store does not file a financing statement but relies on attachment for perfection. Adam later borrows money from a credit union and gives it a security interest in the television set. Adam defaults on his loans and the credit union tries to claim the set. Under these circumstances:
A. the credit union has a better claim to the set than does the appliance store.
B. the appliance cannot claim the set as they relied on attachment for perfection.
C. the appliance store has a better claim to the set than does the credit union.
D. neither the appliance store nor the credit union can claim the set.
Answer
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