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To perfect a security interest in personal property, a financing statement may be filed,
eith er before or after the security interest attaches.
A voluntary choice from among perfectly legitimate alternatives may in some instances
constitute economic duress.
A car buyer in the ordinary course of business will take free and clear of a security
interest created by any person who owned the automobile prior to the dealer.
Since the purpose of remedies under the Code is compensation, punitive damages are
generally available.
A corporation is a legal entity separate from its owners who have limited liability for
the corporation's obligations.
The traditional common law rule regarding the sale of property is caveat emptor which
means, "let the buyer beware."
