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| Kwik Bank loaned Crocker $30,000 to finance the purchase of appliances shipped to it from Cue Company. Crocker used the money from the loan to fully pay for the appliances. Kwik had Crocker sign a security agreement that listed as collateral the entire present and future inventory of Crocker. Kwik meant to file a financing statement but failed to do so. Duncan Company, aware of Kwik’s security interest, extended credit to Crocker to purchase office supplies, which Crocker planned to sell at his store. Crocker failed to pay either Kwik or Duncan. Which of the following is correct? A. Kwik’s security interest is not enforceable against Crocker. B. Kwik’s security interest is enforceable against Crocker and does have priority over Duncan. C. Kwik’s security interest has priority over Duncan as well as any other potential third parties. D. Kwik’s security interest is enforceable against Crocker but does not have priority over Duncan. |