On June 3, Muni Finance loaned Page Corp. $20,000 to purchase four computers for use in Page's trucking business. Page contemporaneously executed a promissory note and security agreement. On June 7, Page purchased the computers with the $20,000, obtaining possession that same day. On June 10, Mort, a judgment creditor of Page, levied on the computers.
Which of the following statements is correct?
A. Muni failed to qualify as a purchase money secured lender.
B. Muni's security interest attached on June 3.
C. Muni's security interest attached on June 7.
D. Muni's security interest did not attach.
C. Muni's security interest attached on June 7.
Business
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