Final answer:
BOCB stands for Bona Fide Purchaser Taking Free of Security Interests.
Step-by-step explanation:
The correct answer is d) Bona Fide Purchaser Taking Free of Security Interests.
In the context of security interests, BOCB stands for Bona Fide Purchaser Taking Free of Security Interests. A bona fide purchaser is someone who buys property for value and without notice of any prior security interests. This means that if someone purchases property without knowledge of any existing security interests, they may be protected from those interests under certain circumstances.
For example, let's say you buy a car from someone, and you have no knowledge that the car is subject to a security interest held by a bank. If you are a bona fide purchaser, you may be able to take ownership of the car free of that security interest if you meet the legal requirements for being considered a bona fide purchaser.