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You just recently completed a loan to Bill Beaumont, a customer, so he could buy a $60,000 new car. 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 car. After several months of Bill not paying on the car, the bank decides to repossess the car and sell it to repay the defualting loan. Although the financing statement between Bill Beaumont and the bank was correctly perfected at the time it was completed. You now discover that Bill’s full name is actually William Beaumont. Is the security under the agreement still enforceable?

Operation Management, Management Studies

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