1. ROLE REVERSAL: Write a multiple-choice question with a conflict between a secured party and a buyer in ordinary course of business.
2. Draft a security agreement in which your friend gives you a security interest in her $20,000 home entertainment system, in exchange for a loan of $12,000. Because the collateral is something that she uses daily, what special concerns do you have? How will you protect yourself? Next, fi nd a UCC-1 fi nancing form online. Print the form, then complete it. In what offi ce of your state should you fi le in order to perfect?