A Purchase Money Security Interest

A purchase money security interest

A) will be automatically subordinate to any general security agreeement, even if registered within the specified time period.
B) will prevail over a general security agreement covering all of a merchant's assets, if it registered within the specified time period.
C) is also known as floating charge.
D) is now obsolete, in light of the Personal Property Security Act.
E) is prohibited in most provinces.

Correct Answer:

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