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The ability for a child to connect language to a previously unknown event or person is known as

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Under UCC Article 9, classification of collateral is to be determined:Group of answer choices:a) what the secured party puts down in the financing statement.b) based on the debtor's intended use of the collateral.c) based on the debtor's intended use of the collateral at the time when the security interest is created.d) as of the time of the creation of the security interest.

CarMax sells a car to Bob for $25,000. Bob puts down $5,000 as a down payment. Bob agrees to pay the rest in installments of $1,000 by signing a promissory note (a formal promise to pay). Bob fails to make his payments as promised. On these facts, what can CarMax choose to do?Group of answer choices:a. CarMax can sue Bob for damages for breach of contract and get a judgment against Bob.b. CarMax can repossess the car because Bob promised to pay.c. CarMax can repossess the car because CarMax has a security interest in the car.d. CarMax can repossess the car or sue for damages due to breach of contract.

Pemulis Auto delivered a car to Lloyd under a Lease Agreement, which provided that Lloyd would own the car after making the required pay-ments. Because such a transaction is in substance a secured sale on credit, Article 9 applies to the transaction. Does that mean that Pemulis Auto would have no effective security interest, because the parties signed a Lease Agreement, not a security agreement?a) Pemulis Auto will not have an effective security interest, for lack of a signed security agreement. b) Pemulis Auto has an effective security agreement, because the Lease Agreement will qualify as a security agreement. c) Pemulis Auto will not have a security interest, because it did not provide value d) Pemulis Auto will not have a security interest, becauses Lloyd has no interest in the collateral.

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