IL Bar Practice Questions - Illinois Bar Examination Exam

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A debtor grants a security interest in 'all accounts receivable now owned or hereafter acquired.' This after-acquired property clause is generally enforceable under Article 9 for which type of collateral?

It is never enforceable It is generally enforceable for accounts and inventory, allowing the security interest to attach to property the debtor later acquires It is enforceable only for consumer goods It applies only to real property

Correct Answer:

It is generally enforceable for accounts and inventory, allowing the security interest to attach to property the debtor later acquires

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