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Perfection of a Security InterestMarsh has a prize horsenamed Arabian Knight. Marsh is in need of workingcapital. She borrows $50,000 from Mendez, who takespossession of Arabian Knight as security for the loan.No written agreement is signed. Discuss whether, in theabsence of a written agreement, Mendez has a Mendez has a security interest in Arabian Knight. If Mendez does have a secu-rity interest, is it a perfected security interest?

.button {
background-color: #4CAF50;
border: none;
color: white;
padding: 10px 20px;
text-align: center;
text-decoration: none;
display: inline-block;
font-size: 16px;
margin: 4px 2px;
cursor: pointer;
border-radius: 10px;
.awasam-alert {
color: red;


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