In: Accounting
In the case of Kimbrell’s of Sanford, Inc. v. KPS, Inc.:
a. Kimbrell’s was required to file a financing statement to perfect it security interest.
b. Burns signed a security agreement granting Kimbrell’s a purchase money security interest in the VCR.
c. Kimbrell’s was not entitled to recover possession of the VCR when it filed its cause of action.
d. Kimbrell’s filed a financial statement to perfect its purchase money security interest in the VCR.