Questions 16 and 17, please The termis the designation for property acquired by the debtor after a security agreement covering the property is made.O post-acquired propertyO post-dated propertyO after-acquired propertyO profitsO subsequently acquired propertyQUESTION 16The party that perfects its interest in collateral has first claim, when two parties have an interest in the same collateral.O TrueO FalseQUESTION 17The buyer can obtain the good involved free of any security interest, if a buyer purchases chattel paper in the ordinary course of business and without notice ofany prior security interest.O TrueO FalseQUESTION 18On January 1, Yuka purchases a pickup truck in Arizona and the car dealership properly perfects its security interest in the truck. On February 1, Yuka moves toColorado and takes out a loan with Rocky Bank to start an internet business, using the truck as collateral. Rocky Bank properly perfects its security interest in thetruck. Yuka never opens her business, stops making payments on the truck, and leaves town on December 31. Which creditor's security interest has priority?The dealership because it properly perfected its security interest before Rocky Bank.Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Contract is a legally binding agreement which can be entered between two parties in an arms length…

Answered: Questions 16 and 17, please

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