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Prepositions in the context of a secured transactions outline

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Jack takes notes while he is making an outline for his Secured Transactions class. Read Jack’s notes and decide which preposition, if any, fits in the blank.


1. Creditors can take {1:MULTICHOICE:=back~by~for~from~in~of~on~over~no preposition} a security interest {1:MULTICHOICE:back~by~for~from~=in~of~on~over~no preposition} order to protect themselves {1:MULTICHOICE:back~by~for~=from~in~of~on~over~no preposition} default.

2. A PMSI {1:MULTICHOICE:back~by~for~from~=in~of~on~over~no preposition} consumer goods is a purchase money security interest {1:MULTICHOICE:back~by~for~from~=in~of~on~over~no preposition} an item purchased {1:MULTICHOICE:back~=by~for~from~in~of~on~over~no preposition} a consumer for personal (non-commercial) use.

3. The proceeds {1:MULTICHOICE:back~by~for~from~in~=of~on~over~no preposition} a loan must be used to make a particular purchase {1:MULTICHOICE:back~by~for~from~=in~of~on~over~no preposition} order {1:MULTICHOICE:back~by~=for~from~in~of~on~over~no preposition} the security interest to qualify as a PMSI.

4. A PMSI {1:MULTICHOICE:back~by~for~from~=in~of~on~over~no preposition} consumer goods primes {1:MULTICHOICE:back~by~for~from~in~of~on~over~=no preposition} a non-PMSI, and has superpriority {1:MULTICHOICE:back~by~for~from~in~of~on~=over~no preposition} other security interests.

5. The creditor can only replevy {1:MULTICHOICE:~back~by~for~from~in~of~on~over~=no preposition} the goods if the debtor defaults {1:MULTICHOICE:back~by~for~from~in~of~=on~over~no preposition} the loan.

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