George W. fancies himself to be a Texas rancher, despite being born in Connecticut and having an Ivy League education. One day George spotted a fancy industrial size wood chipper while at the local Tractor Supply. George approached the salesman about the wood chipper and was saddened to hear that it cost $10,000 which was slightly more than the weekly allowance George was given by his secretary, Dick. The salesman, seeing he was about to lose a sale, told George about Tractor Supply's in-house financing plans. "Just $250 down and $250 a month for 60 months!" George couldn't help himself; he agreed to purchase the wood chipper with at-home delivery.

While filling out the paperwork, the salesman asked George if the wood chipper would be for personal or business use. George responded:

Well, to be honest, for once in my life, disposing of old limbs has always been a talent of mine, it is something of a hobby for me. I plan to take this wood chipper home today and start ridding my ranch of brush. I take a vacation to my ranch almost every month, and each time I come home I will be clearing brush, all shock and awe like hehe, get it salesboy? Anyway, there are often cameras at my house so I might get recordinated. Them boys over at Fox News love to continuously show footage of me throwing dead limbs around. They say it helps my campaign because it makes people think I am just like them, all poor and stuff. Can you believe that?

The salesman told George that it sounded like the wood chipper was personal even though video of George's use might be used to promote George's reelection campaign. George signed the Security Agreement, which contained a statement saying that he was purchasing the wood chipper for "personal use." The agreement effectively described the wood chipper. No financing statement was filed. The wood chipper was delivered to George's ranch, and George has since used the wood chipper at least once every month because his ranch never seems to be rid of brush.

As George thought, each time he used the wood chipper on his ranch for the next five years Fox News recorded it and showed it on continuous loop in the bottom right screen of their 24 hour news network. Additionally, Jon Stewart used clips for his weekly "Wood Chipper Watch" segment and Stephen Colbert often referenced Bush's wood chipper on his weekly "Threat Down." Two superPacs also used video clips of George and his chipper in campaign ads; the ads helped George generate a record number of financial contributions.

Is Tractor Supply's interest in the wood chipper perfected?

1. Yes, this is a consumer good bought for an intended personal use, therefore perfection is automatic

2. No, because the wood chipper is equipment because Bush's use of the wood chipper was used by Bush's campaign to raise funds

3. No, because the wood chipper (at a price of $10,000) is too expensive for Tractor Supply to rely upon automatic perfection

4. No, because the construction equipment like a wood chipper is subject to state certificate of title laws