On October 1, Dealer sold a refrigerator to Tonya’s Restaurant, Inc. (Tonya's). Under terms of the contract executed by both parties on that date, Dealer retained an enforceable security interest in the refrigerator to secure payment of the purchase price. Dealer delivered the refrigerator to Tonya’s on October 10. Dealer filed a proper financing statement with the appropriate filing office on October 11. Unknown to Dealer, on November 2, Tonya’s sold the refrigerator to Dominic’s Pizza for cash to be received on November 10. However, on November 7, Tonya’s filed a Chapter 11 bankruptcy petition. Then, on November 11, Tonya’s used the cash from the sale of the refrigerator to buy an oven. Dealer now wants to repossess the oven and sell it at a foreclosure sale to recoup the amount still owed to Dealer. Which statement is FALSE?
1. Dealer’s interest in the refrigerator was automatically perfected as a purchase money security interest.
2. Dealer still has a security interest in the oven as proceeds of its pre-petition collateral.
3. The oven is not "after-acquired property" in which Dealer would have a security interest by virtue of an after-acquired property clause.
4. Dealer cannot repossess the oven without court approval without violating the automatic stay.