Consumers Goodies LLC Goodies a retailer of high e

Consumers Goodies LLC Goodies a retailer of high end consumer electronics, such as flat-screen televisions, stereo systems, speakers, and global positioning system (GPS) navigation aids, needed additional working capital. It obtained a loan from Prime Bank. As security for the loan, the bank took and 
perfected a security interest in all Goodies’ present and after-acquired inventory and equipment.
Goodies obtained inventory on credit from Electronics Wholesaler (Wholesaler). Wholesaler retained a security interest in Goodies’ inventory until Goodies paid for it.
Goodies purchased a computer from Computers-R-US (CRU), a computer retailer, for use in the store- office. CRU took and perfected a security interest in the computer before it was delivered. Barry Buckage, a customer, purchased a stereo system on credit from Goodies. The stereo was among the inventory that Goodies had purchased from Wholesaler. However, Goodies had not yet paid Wholesaler for it. Goodies retained security interest in the stereo it sold to Barry, but it did not file a financing statement.

1. - - - Can Prime Bank obtain a security interest in the inventory and the computer? 
Why or why not?
2. - - - If Barry defaults on his payments to Goodies, could Goodies recover the stereo from Barry?
Why or why not?

3. - - - Further, if Barry sold the stereo to a neighbor for much less than the price he agreed to pay Goodies, could Goodies recover the stereo from Barry- neighbor?
Why or why not?
4. - - - If Goodies subsequently defaulted on its obligations to Prime Bank, Wholesaler, and CRU:
•	Who would have the priority security interest in the appliances that remain 
in Goodies’ inventory—Prime Bank or Wholesale? Why?
•	Who would have the priority security interest in the computer—Prime Bank or 
CRU? Why?
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The main topics for this paper is:

1. types of loan transactions, unsecured and secured
2. security interest and Article 9 of ucc
3. Methods for Perfecting of the Security Interest
4. The three rules to perfect
Some general background:

The UCC has established a clear set of rules defining rights of parties to the collateral. Using these rules, you can determine which party has priority if the debtor defaults.
Let's examine these rules.

General rule-first to perfect: The basic rule is that the first to file (perfect) has priority over those that have filed (or perfected) later. However, there are exceptions to this rule.
PMSI in non-inventory collateral (UCC §§9-325): A perfected PMSI in collateral other than inventory has priority over a conflicting interest in the same inventory if the PMSI is perfected at the time the debtor receives the collateral or within 10 days of receipt. There is no need to notify other creditors, since the PMSI is not inventory.
Bona fide purchaser for value: A good faith buyer who purchases for value takes the goods free from a security interest against the seller- goods, even though the security interest may be perfected and even
though the buyer may know of that security interest (UCC §§9-320).
Once a creditor's right to the collateral is established, he or she can take action against the debtor in the event of a default. Next, let's look at a creditor's options when a debtor defaults.
Creditor Rights Upon A Debtor's Default (UCC §§9-601 through 9-628)
Usually the debtor and the creditor state in their agreement what events constitute a default by the debtor. The UCC does not define what constitutes a default, but it does define what the remedies may be. If the 
debtor defaults, the creditor has the following options:
•	Sue the debtor on the note or promise to pay.
•	Repossess the collateral and keep it to satisfy the debt.
•	Repossessthe collateral, sell it, and sue the debtor for any deficiency or return any surplus to the debtor.
However, if the goods are consumer goods and the debtor has paid more than 60 percent of the purchase price, the creditor cannot retain the collateral in satisfaction of the debt but must sell it. Any excess received 
over the debt, accrued interest, and costs of selling the collateral must be refunded to the debtor.
Required:
2-3 paragraphs wiht detailed explanations