Mary and Mark live in Illinois. Mary lends Mark $10,000.00. Mark wants some security of repayment and aks for a security agreement on Mary's car. Instead Mary gives him her diamond necklace worth $8,000.00. He agrees to to this arrangement and takes possession of the necklace. To "perfect" this security interest Mark needs to obtain a written security agreement and file it with the Illinois Secretary of State? True/False.

Mary and Mark live in Illinois. Mary lends Mark $10,000.00. Mark wants some security of repayment and aks for a security agreement on Mary's car. Instead Mary gives him her diamond necklace worth $8,000.00. He agrees to to this arrangement and takes possession of the necklace. To "perfect" this security interest Mark needs to obtain a written security agreement and file it with the Illinois Secretary of State? True/False.

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