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Consumer borrowed $12,000 from Credit Co. to consolidate household debts. Consumer signed a security agreement granting Credit Co. a security interest in "all of Consumer's consumer goods, whether now owned or later acquired, and all proceeds, to secure this loan and any future advances." At signing, Consumer owned a television and a dining set. Five days later, Consumer bought a laptop for household use. Thirty days after signing, Consumer bought a piano for household use. Two months later, Credit Co. advanced another $3,000 to Consumer under the same loan relationship.
Consumer defaulted on both advances. Credit Co. claims that its security interest attached to the television, dining set, laptop, piano, and that the same collateral secures the later $3,000 advance. Consumer argues that the after-acquired property clause is ineffective as to all consumer goods and that the first collateral cannot secure later advances.
Discuss which items are subject to Credit Co.'s attached security interest and whether the collateral can secure the later $3,000 future advance.