In Secured Transactions....in the priority rules for a PMSI the rule is that for inventory or livestock you take priority if perfect by the time of possession and give notice to creditors and for other inventory (equipment) you have 20 days from the time of posession to perfect.
BUT--doesn't a PMSI perfect automatically??? So what do you need 20 days for?
2 comments:
Perfects automatically for *consumer* goods.
I think.
I could be wrong.
Ah ha! I think you are right! Thanks :)
Post a Comment