Refer to Fact Pattern 30-2A. If Rely does not perfect its security inter­est before Standard files for bankruptcy, then Rely will be an unse­cured creditor and the trustee of Standard’s estate can
A. invalidate Rely’s interest only before Rely perfects it.
B. invalidate Rely’s interest only if Rely knew of the impend­ing bankruptcy.
C. invalidate Rely’s interest under any circumstances.
D. not invalidate Rely’s interest.
Answer:C
Refer to Fact Pattern 30-2A. If Rely does not perfect its security inter­est before Standard files for bankruptcy, then Rely will be an unse­cured creditor and the trustee of Standard’s estate can
A. invalidate Rely’s interest only before Rely perfects it. B. invalidate Rely’s interest only if Rely knew of the impend­ing bankruptcy. C. invalidate Rely’s interest under any circumstances. D. not invalidate Rely’s interest.