Is the security under the agreement still enforceable

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Reference no: EM132142493

You are a consumer loan specialist employed by Arbor Bank. You recently completed a loan to Bill Barker, one of the bank's customers so that he could buy a new $60,000 Tesla vehicle. You completed the required paperwork at the time of the loan, including a written financing statement, giving the bank a security interest in the new vehicle. After several months of Bill not making payments on the car, the bank decides to repossess the car and sell it to repay the defaulting loan. Although the financing statement between Bill Barker (debtor) and Arbor Bank (creditor) was correctly perfected at the time it was completed, you now discover that Bill Barkers full name is actually William Barker. Is the security under the agreement still enforceable?

Reference no: EM132142493

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