Multiple Choice
What is the purpose of a financing statement?
A) to meet UCC accounting requirements under Article 9
B) to create a security interest
C) to amend a security agreement
D) to alert third persons that a creditor has a security interest in the collateral described
Correct Answer:
Verified
Correct Answer:
Verified
Q29: Under Revised UCC Article 9, a debtor
Q30: Secured transactions are governed by Article 2
Q31: Claim in a changing or shifting stock
Q32: A security agreement must be backed by
Q33: King Electronics, a retailer of video equipment,
Q35: A security interest is like a lien
Q36: A(n) _security interest is effective against third
Q37: Self-help repossession of collateral upon a buyer's
Q38: If two creditors have a security interest
Q39: An interest in personal property or fixtures