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Describes the collateral as a combine harvester

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Question: Montana purchases a combine harvester on credit from Mahomes, signing a security agreement that describes the collateral as a combine harvester and identifies it by a serial number. Montana later shifts from farming to warehouse operations and trades the combine harvester for a forklift. Does the forklift become collateral?

Reference no: EM133592886

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Describes the collateral as a combine harvester : Montana later shifts from farming to warehouse operations and trades the combine harvester for a forklift. Does the forklift become collateral?
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